Manufacturers on Biden EO: Some Actions Are Solutions in Search of a Problem That Doesn’t Exist
Timmons: Manufacturers are keeping our promises to invest, hire and grow wages; Let’s not stall the progress
Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement after President Joe Biden signed an executive order today on promoting competition in the American economy.
“Manufacturers are helping lead the recovery, building the next, post-pandemic world. And as the industry rebounds, manufacturing workers are seeing their lives improve. According to the Q2 Manufacturers’ Outlook Survey, manufacturers expect record levels of full-time employment growth. And following the enactment of tax reform, manufacturers kept their promises to raise wages and benefits: wages rose 3% in 2018, 2.8% in 2019 and 3% in 2020—the fastest rates of annual growth since 2003. What’s more, manufacturers have 814,000 jobs to fill right now—opportunities for more Americans to have well-paying, meaningful careers.
“Our sector is strong and growing, and our people are benefiting. Unfortunately, there are those who want to erode our competitive advantage with archaic tax policies. And some of the actions announced today are solutions in search of a problem; they threaten to undo our progress by undermining free markets and are premised on the false notion that our workers are not positioned for success. We have challenges, to be sure, which is why we are advocating infrastructure investment, competitive tax rates, immigration reform, ensuring availability of lifesaving cures, expanded export opportunities and more. And it’s why we launched our Creators Wanted campaign—to inspire more Americans to pursue modern manufacturing careers in the industry that literally builds our nation’s future.
“As always, manufacturers are focused on policies that genuinely uphold the values that make our country exceptional and our industry strong: free enterprise, competitiveness, individual liberty and equal opportunity.”
The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.3 million men and women, contributes $2.35 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org