Washington, D.C. — Following President Joe Biden’s decision to release 50 million barrels from the Strategic Petroleum Reserves, National Association of Manufacturers President and CEO Jay Timmons released the following statement:
“Today’s action is, unfortunately, just a band-aid. Tapping the Strategic Petroleum Reserve won’t solve the underlying problems. While we are pleased that President Biden is focusing on the rising cost of fuel, this is not a sustainable solution.
“A true energy strategy would strengthen our energy independence, enhance manufacturers’ competitiveness and alleviate many of the other supply chain challenges facing our nation. Instead of asking OPEC and Russia to fill the void, we should let American energy workers take the lead, setting an example with America’s high standards for protecting workers and the environment. Manufacturers call on the Biden administration to work toward real, longer-term solutions for the good of our families, industry and economy.”
Washington, D.C. – Following the vote on the Build Back Better Act in the U.S. House of Representatives, National Association of Manufacturers President and CEO Jay Timmons released this statement:
“This bill, regardless of its intentions, is paid for by taxes that will hit manufacturers harder than other industries. We oppose this legislation that would stifle our ability to expand our operations, hire more workers and raise wages and benefits. This comes at a time when Americans are counting on manufacturers to lead our recovery and respond to supply chain challenges. The ‘book tax’ in particular harms manufacturers more than others because it increases the cost of machinery and equipment purchases, which are central to manufacturers’ operations and our ability to create and support American jobs. The tax reforms of 2017 gave manufacturers the tools to invest in our people and our communities, making 2018 the best year for manufacturing job creation in more than two decades. We should build on that progress—not return to archaic tax policies or target manufacturers with new taxes.
“We also strongly oppose the new provisions on drug pricing that will slow down pharmaceutical manufacturers’ capability to further accelerate the type of innovation that helped us fight back against COVID-19. Congress should not be putting future cures at risk. Manufacturers call on senators to oppose this bill.”
Background on manufacturing growth following the enactment of 2017 tax reform:
- In 2018, manufacturers added 263,000 new jobs. That was the best year for job creation in manufacturing in 21 years.
- In 2018, manufacturing wages increased 3.0% and continued going up—by 2.8% in 2019 and 3.0% in 2020. Those were the fastest rates of annual growth since 2003.
- Manufacturing capital spending grew 4.5% and 5.7% in 2018 and 2019, respectively.
- Overall, manufacturing production grew 2.7% in 2018, with December 2018 being the best month for manufacturing output since May 2008.
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 12.5 million men and women, contributes $2.52 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 58% 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.
Washington, D.C. – Following President Biden’s sending of the Kigali Amendment to the Montreal Protocol for ratification by the Senate, the National Association of Manufacturers Vice President of Energy and Resources Policy Rachel Jones released the below statement:
“Manufacturers thank President Biden for submitting the Kigali Amendment to the Senate and urge bipartisan support for ratification. We can tackle climate change while strengthening our global competitiveness as we transition to next-generation technologies.
“By joining the more than 125 countries that have already ratified the Amendment, we have set ourselves on a path to create up to 150,000 jobs in the United States and aid in the reduction of billions of tons of CO2 in the atmosphere. We urge policymakers to support Kigali ratification and prove that smart policy can be a win for the economy and the environment.”
Washington, D.C. – Following the announcement by the Securities and Exchange Commission that it intends to rescind commonsense investor protections designed to provide oversight of so-called proxy advisory firms—little-known, unregulated entities that exert enormous influence over publicly traded manufacturers—National Association of Manufacturers Senior Vice President of Policy and Government Relations Aric Newhouse released the following statement:
“The NAM is extremely concerned that the SEC has proposed substantial revisions to last year’s reasonable, light-touch proxy advisory firm rule—especially absent any new information about its impact on the market. Businesses and investors need reliable rules of the road, and the NAM is disappointed that the SEC plans to reverse course on a decade’s worth of bipartisan, consensus-driven policymaking just a year after the rule’s reforms were finalized. The SEC’s about-face is deeply troubling, but manufacturers continue to support appropriate oversight of proxy firms given their conflicts of interest, errors and outsized influence. The NAM looks forward to engaging with the SEC to defend the rule’s commonsense investor protections in the coming months.”
Washington, D.C. – Following President Biden’s signing of the Infrastructure Investment and Jobs Act, National Association of Manufacturers President and CEO Jay Timmons and Trane Technologies Executive Chair and NAM Board Chair Mike Lamach released the below statements:
“Now that this historic bill has become law, we can build a future worthy of the next generation,” said Timmons. “For manufacturers, this is a victory years in the making. In 2016, the NAM released our ‘Building to Win’ plan, which called for exactly this type of bold infrastructure investment. It has guided our advocacy with administrations and legislators of both parties, and the leadership of President Biden and senators from both parties produced a bill that achieved many of our ‘Building to Win’ goals without raising tax rates on manufacturers. And this bipartisan approach can be a model for future legislation—one that puts policy above politics, personality or process.”
“As chair of the National Association of Manufacturers, I’m honored to be at today’s signing and pleased to have been part of this historic, bipartisan process to build a safer, stronger infrastructure,” said Lamach. “The Infrastructure Investment and Jobs Act is a critical investment in our nation’s economic recovery and in the future of manufacturing. Funding for critical transportation, broadband, water and energy systems will strengthen supply chains, protect the environment and enable opportunity for people across our country.”
To see key provisions championed by the NAM in the Infrastructure Investment and Jobs Act, click here.
Washington, D.C. – Following the U.S. House of Representatives’ passage of the Infrastructure Investment and Jobs Act, National Association of Manufacturers President and CEO Jay Timmons released this statement:
“This moment and the transformational change it will bring about has been decades in the making. Manufacturers commend Congress for coming together to pass this historic, bipartisan legislation. The Infrastructure Investment and Jobs Act makes America stronger, with a promise to renew and revitalize our nation’s physical infrastructure, improving productivity and quality of life for everybody—and without raising taxes or jeopardizing economic growth and manufacturing jobs.
“Failure to invest has been a drain on America’s economy, costing families and businesses significant time and money. This type of investment will enable us to continue to grow our economy and get started on building the world-class infrastructure that will enable us to lead through this century and into the next.”
To see the NAM-championed provisions in the Infrastructure Investment and Jobs Act, click here.
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 12.4 million men and women, contributes $2.5 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 58% 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.
Washington, D.C. – The Association of Home Appliance Manufacturers announced the retirement of President and CEO Joe McGuire. Joe is a former National Association of Manufacturers board member and former chair of the Council of Manufacturing Associations. Following the announcement, NAM President and CEO Jay Timmons released this statement:
“For more than two decades, Joe ably steered AHAM, setting a high standard for other manufacturing association executives. I have been fortunate to call him a colleague and close friend, from whom I have learned so much about leading by example. As a leader of the NAM’s Council of Manufacturing Associations, a past CMA chair and former NAM board member, Joe demonstrated a collaborative spirit and a dedication to the success of the entire industry. As he grew AHAM’s sphere of influence, he established himself and his association as influential players not only on the national stage but also on the world stage. He is a passionate defender of democracy and the values that make our country exceptional and keep manufacturing strong: free enterprise, competitiveness, individual liberty and equal opportunity.
“Through his service as the voice of home appliance manufacturers, Joe has touched the lives of all Americans—though most will never know it. His advocacy has helped ensure that manufacturers could continue to deliver the machines that make modern life possible and on which our families depend—all while driving innovation to make those appliances even more efficient and enhance their capabilities.
“We will miss Joe’s leadership in the association community, and we look forward to celebrating with him and his wife Mary over the coming months. He has certainly earned his retirement, even if the rest of us wish we could continue serving alongside him for years to come.”
Washington, D.C. – Following the introduction of a rule by the Occupational Safety and Health Administration that employers with 100 or more employees will need to be vaccinated against COVID-19 by Jan. 4, 2022, or get tested for the virus weekly under government rules issued Thursday, National Association of Manufacturers President and CEO Jay Timmons released the following statement:
“Manufacturers continue to be committed to promoting vaccination and keeping our teams, customers and communities safe and healthy. Federal vaccine requirements should be flexible enough to ensure we can achieve those goals, and we appreciate OSHA taking many of our inputs into consideration. We are still reviewing the rule, but we will continue to share manufacturers’ perspectives and experiences with the administration to make sure our members aren’t faced with undue cost burdens and other potential disruptions. And as we have been doing throughout the pandemic through our ‘This Is Our Shot’ project, the NAM and The Manufacturing Institute will continue providing manufacturers with the tools needed to communicate effectively about the importance of COVID-19 vaccines—vaccines made for all of us by people like us, manufacturers in America.”
Washington, D.C. – Following the introduction of a proposed rule on methane regulation, the National Association of Manufacturers Vice President of Energy & Resources Policy Rachel Jones released the following statement.
“Getting the U.S. methane strategy right is critical as we tackle climate change, and manufacturers stand ready to work with the Biden administration and lawmakers on both sides of the aisle to address this pivotal issue in a way that doesn’t harm manufacturing in America.
“Manufacturers are working with the EPA to share their expertise, and many companies are leading the way in rolling out technologies that make it possible to lower both emissions and costs. We look forward to learning specific details of the administration’s full methane strategy as our sector continues to work to make our planet healthy for future generations.”
Washington, D.C. – Following the inclusion in the budget reconciliation legislation of a tax on so-called “book income,” the National Association of Manufacturers Vice President of Tax and Domestic Economic Policy Chris Netram released this statement:
“Manufacturers continue to stand in firm opposition against targeting our industry with new taxes to pay for the reconciliation bill. The ‘book tax’ will hit manufacturers harder than other sectors because expanding our operations requires much larger investments in capital equipment than other industries. This new tax doesn’t account for incentives for machinery and equipment purchases and will stifle investment in our communities and factories. If Congress adopts this policy, the result will be fewer opportunities in towns and cities across the country.
“Regardless of intent, these taxes will harm our industry’s ability to drive our economic recovery. The tax reforms of 2017 allowed us to achieve the best year for manufacturing job creation in more than two decades, and wages, benefits and investment surged. Rather than rolling that back or targeting manufacturers with new taxes, we should keep our tax code competitive and build an opportunity economy together.”
The NAM informed Senate Finance Committee and House Ways and Means Committee leaders of the negative impacts this policy would have for manufacturing. Read the full letter here.