Quote:The National Association of Manufacturers said Monday its latest quarterly CEO survey reflects historically high optimism on expectations for the passage of tax reform in Washington.

The trade group said CEO optimism — hitting a high mark in 20 years of the survey — should send a message to legislators that failure to enact the bill would be a blow to American business.

"These incredible numbers demonstrate the absolute urgency of getting tax reform signed into law because manufacturers are saying loudly and clearly that more jobs, better pay and manufacturing growth are on the horizon," said Jay Timmons, president and CEO of NAM. "This also serves as a warning to lawmakers: Fail to get this done, and American manufacturing workers will suffer the consequences of inaction."

Quote:Nearly 63 percent said comprehensive business tax reform would encourage their company to increase capital spending, and more than half said they would expand their businesses (57.9 percent).

"The single most important thing that we need to see out of tax reform is permanent, more competitive tax rates," said Austin Ramirez, president and CEO of HUSCO International, a Wisconsin-based hydraulic and electro-hydraulic component manufacturer. "I compete against competitors in Asia and Europe who are operating in a different paradigm with lower tax rates, and the high rates in the U.S. make us less competitive."

Almost 54 percent of CEOs in the survey said they would hire more workers, and nearly half (48.8 percent) said they would increase employee wages and benefits.

Quote:NAM CEO Timmons anticipates tax reform would increase the amount of available manufacturing jobs from today's 350,000 to 2 million jobs by 2025.

"If we get it right, we'll grow this economy. The president calls it 'rocket fuel,' I agree with that. Couple that with regulatory reform reducing the burdens on manufacturers who are simply trying to do the right thing and make ends meet and hire new people," Timmons said on CNBC's "Power Lunch." "I think there's no end in sight to how we can grow this economy."