The National Association of Manufacturers (Nam) and Loews, the insurance-to-hotels group, will launch a drive on Monday to slash corporate taxes on asset sales, in a sign of US companies’ desire to cushion the blow of a slowing economy by easing their fiscal burden.

The campaign, which will pledge to present a new law to Congress within weeks, aims to take advantage of economic uncertainty and a closely fought presidential primaries race to win concessions in Washington.