Republicans call their tax bill the Tax Cut and Jobs Act. But critics say maybe it should have been named the Tax Cut and Robots Act.
That’s because it doesn’t create new tax incentives that specifically encourage companies to hire workers and create jobs, some employers and economists say. But it does expand incentives for companies to buy robots and machines that replace workers.
Republicans say that lowering taxes will boost the economy and spur job creation. But critics say that the tax legislation would create an imbalance favoring machines over workers.
“I think they really need to re-look at the name [of the bill] and add the missing component of the worker,” says Carl Pasciuto, president of Custom Group, a high tech manufacturing company in Woburn, Mass.
His factory floor is full of machines that look kind of like enclosed ski gondolas. Inside them, oil is being sprayed on blocks of metal …