Manufacturers Support Preserve Benefits and Jobs Act

Washington, DC, 05/26/10 -  The National Association of Manufacturers (NAM) Director of Tax Policy Dena Battle released the following statement regarding H.R. 3936, the Preserve Benefits and Jobs Act: 

“Today manufacturers still heavily rely on defined benefit pension plans to help attract and retain workers.  Most pension plans, on average, lost 30 percent of their value during the market downturn at the end of 2008 and the beginning of 2009.  The relief included in H.R. 3936, the Preserve Benefits and Jobs Act, introduced by Reps. Pomeroy and Tiberi, is critical to helping American manufacturers recover from the economic downturn.  This legislation will give manufacturers additional time for the market to recover and free up essential cash for companies to expand production and create much needed jobs in the manufacturing sector.”