Press Releases

Press Releases

Timmons Opening Statement to U.S. Senate Committee on Finance Hearing on Made in America: Effect of the U.S. Tax Code on Domestic Manufacturing

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons delivered the following opening statement at a U.S. Senate Committee on Finance hearing entitled Made in America: Effect of the U.S. Tax Code on Domestic Manufacturing.

Click here to watch the hearing.

Remarks as prepared for delivery:

Good morning. Thank you, Mr. Chairman.

I’m joining you virtually because of the pandemic that this country has endured for more than a year now. But this pandemic is far more than a story of economic hardship and painful loss. It’s also a story of communities and companies rising to the challenge.

America’s manufacturing workers mobilized in ways reminiscent of their resolve during World War II, when manufacturers became the arsenal of democracy. The companies joining me today are part of this effort. Ford remade shop floors to make ventilators and face shields. Intel accelerated access to technology to combat the pandemic. From iconic global brands to family-owned shops, manufacturers answered the call.

Today, one year after health restrictions began, the light at the end of the tunnel is growing brighter by the second—thanks to the innovation of pharmaceutical manufacturers. Their heroic work, combined with the previous administration’s Operation Warp Speed and this Congress and this administration’s focus on and investment in vaccine distribution, is now saving about 2 million American lives every single day.

Manufacturing workers’ achievements are all the more impressive when you consider the disruptions they had to overcome. This pandemic exposed and exacerbated serious supply chain issues that we now must address as we work to build the next post-pandemic world.

In spring 2020, the National Association of Manufacturers released our plan for strengthening manufacturing supply chains. I’ve discussed it directly with some of you.

Our goal is your goal: Ensuring that the next dollar invested in manufacturing is invested in America.

The plan is comprehensive, from taxes to workforce. The central premise is that incentives—not punitive measures—will allow us to achieve our shared goal.

Let me call out three key recommendations.

Number one: We must recognize the importance of predictability and stability in the tax code. Tax reform made manufacturers more competitive, driving historic job creation, wage growth and productivity in its immediate aftermath. Let’s not undo that progress.

Number two: Manufacturers in America can only remain at the cutting edge if our tax code supports innovation. Unfortunately, it will do just the opposite starting next year.

A looming change to the tax treatment of research costs will make it more expensive to perform R&D—potentially costing America its innovation edge.

Number three: Let’s recognize a simple truth—policies that are successful in growing manufacturing will require significant capital expenditures by the small and medium-sized firms that are the backbone of our domestic supply chain.

But two other looming changes to the tax code will make those expenditures difficult. More stringent limitations on interest deductions and the phase out of immediate expensing will take effect in the years ahead. If not reversed, these changes will make it hard to grow manufacturing.

Ultimately, ensuring that next manufacturing dollar is invested right here in America requires looking at the entire business climate.

And that means that this Congress will have to address other pressing questions.

Will tax rates for businesses of all sizes remain competitive—or better yet, become more competitive—so that we can keep attracting investment?

Will the regulatory system provide certainty and clarity?

Will health care become more affordable—without compromising free market principles?

Will this nation finally make the bold investments in infrastructure that are long overdue?

Will energy be abundant, affordable and reliable?

Will export opportunities increase while we enforce our existing trade agreements to protect American workers?

And will we achieve comprehensive immigration reform to ensure that those hidden in the shadows or brought here as children can become permanent, productive members of society?

If the answer to those questions is “yes,” if we tackle these fundamental issues, then I’m certain that this Next World that we are building in the aftermath of the pandemic will be built by American workers in American factories, restoring American leadership in the world.

Thank you, and I look forward to your questions.

-NAM-

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 $2.32 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.

Contact us with questions or requests

[email protected]

Press Releases

Manufacturers: PRO Act Is Anti-Worker

New Survey Shows Danger to Operations and Relationships

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the below statement in advance of the House of Representatives’ vote on the Protecting the Right to Organize Act. In the latest Manufacturers’ Outlook Survey, a startling 97% of respondents familiar with the PRO Act said it would negatively impact operations and damage relationships with manufacturing workers.

“When you consider the harm that it will do to the employer–employee relationship, it’s clear the PRO Act is anti-worker,” said NAM President and CEO Jay Timmons. “As the latest Manufacturers’ Outlook Survey highlights, manufacturers have deep concerns about the PRO Act’s intrusions on worker privacy and restrictions on workplace communication—among many other issues. It will make it harder for manufacturers to thrive and more difficult to foster positive, inclusive workplace cultures.

“Manufacturers recognize and support workers’ federally-protected right to collectively bargain. But the PRO Act will upend the modern workplace, and it could set back our industry, our workers and their families at a time when optimism is finally on the rise.”

Background: More than 130 organizations representing manufacturers nationwide joined an NAM letter opposing the PRO Act.

-NAM-

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 12.2 million men and women, contributes $2.32 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.

Press Releases

Manufacturers’ Optimism Continues to Rise

Highest Reading in Two Years

Washington, D.C. – The National Association of Manufacturers released its first Manufacturers’ Outlook Survey of 2021 and the first since the Biden administration took office. The survey showed manufacturers’ optimism increasing to nearly 88%—the highest reading in two years, and up from 74% in the Q4 2020 survey. This steady improvement represents an increase of 54 percentage points since the results of the first survey that measured manufacturers’ sentiment after the pandemic was declared (34% in Q2 2020).

“As vaccines roll out at a faster pace and we see signs of an improving economy, manufacturers’ optimism is rising fast,” said NAM President and CEO Jay Timmons. “Our industry is creating new jobs and investing in new projects, buoyed by signs that we may finally be getting COVID-19 under control. Of course, our industry knows we are not out of the woods yet. That’s why we continue to lead by example, wearing face coverings and promoting vaccination. The smart health protocols are more important than ever. This is our shot—not just to end the pandemic but to build a new and stronger economy that creates opportunity for all.”

Key survey findings include the following:

  • In the first quarter, nearly 88% of manufacturers said they were either somewhat or very positive about the outlook for their company.
  • Increased costs of raw materials (76%) and the inability to attract and retain talent (66%) were the top-two biggest challenges facing manufacturers in 2021.
  • Other top worries included rising health care and insurance costs (50.9%), transportation and logistics costs (50.2%), supply chain challenges with inventory management (48.7%) and an unfavorable business climate, including taxes and regulations (44.0%).

Read the full Q1 2021 Manufacturers’ Outlook Survey results here.

-NAM-

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 $2.32 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.

Press Releases

Manufacturers: America Is Still Living in Crisis, Action Is Needed

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement on the American Rescue Plan.

“Manufacturers have witnessed the health and economic devastation that the COVID-19 pandemic has brought to too many families across our country. The American people have endured immense pain and uncertainty for a year now, and we have more difficult months ahead. Too many people continue to need help with the basics—housing, food and financial stability. So as Congress continues to consider relief and support for these families, we urge lawmakers to take a bipartisan approach that ensures resources are targeted in the most effective way to have the most powerful impact. The vaccines developed by innovative pharmaceutical manufacturers will help bring an end to this pandemic, so we urge all lawmakers to support vital resources to deploy more vaccines as quickly as possible and arm Americans against COVID-19.

“America is still living through a crisis, and crisis demands action. Manufacturers believe the best course is one that is focused on providing the relief Americans need and one that achieves broad support.”

-NAM-

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 $2.32 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.

Press Releases

NAM Joins Biden Administration in Call to Arms Against COVID

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released this statement following further action from the White House on the COVID-19 pandemic.

“No American is safe from COVID-19 until all Americans are safe, so manufacturers are proud to join the Biden administration in this call to arms. The NAM and manufacturers in the United States are absolutely committed to being the solution to end this pandemic, save lives and safeguard workers. We’re not just making safe and effective vaccines and treatments and other necessary provisions to get us through this crisis, but we’re also putting the full force of the ‘arsenal of democracy’ to work in promoting science-based actions to get us to the light at the end of this dark tunnel of hardship and heartbreak for millions of Americans. We’re resolute in our determination to finish this fight, and we look forward to continuing to work with the Biden administration, members of Congress, public health officials and state and local governments and agencies to defeat COVID-19.”

Background: As an association that represents more than 12 million workers and is made up of a network of more than 130,000 companies, the NAM has met this commitment with deeds. Our Creators Respond campaign has been non-stop on social media, public airwaves and in manufacturing operations since March 2020 promoting face masks and other safety measures to stop the spread of COVID-19. Our ‘This Is Our Shot’ project is taking direct aim at the problem of vaccine hesitancy among manufacturing communities, which have a higher rate of vaccine hesitancy than the general population, with research and resources for employers to protect their workers and communities, public health messages and materials for individuals and families to bolster confidence in COVID-19 vaccines. We also have a Yellow and Red Ribbon initiative to get every vaccinated manufacturer and American to help their family, coworkers and community believe that we can emerge from this pandemic if we care for each other.

-NAM-

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 $2.32 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.

Press Releases

Manufacturers Share Biden Administration’s Goal of Strengthening Manufacturing Supply Chain

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement after President Joe Biden signed an executive order on supply chains.

“Manufacturers have led the nation’s response to COVID-19 by ramping up production of critical supplies, developing treatments and vaccines and continuing to produce the essentials for daily life. But the pandemic has also exposed serious challenges facing supply chains and the serious consequences when they are disrupted. We are encouraged to see that the Biden administration is taking action to address these challenges. Last year, the NAM released policy proposals for ‘Strengthening the Manufacturing Supply Chain,’ and our plan can continue to serve as a roadmap as we move forward while ensuring that we do not close off access to critical components or resources that our lifesaving and life-changing products require.

“The administration’s goal of increasing manufacturing investment in the United States is one we share. And their focus on key sectors, like the pharmaceutical manufacturers whose incredible innovation is saving lives and arming us against COVID-19, will help us emerge stronger from this crisis. We look forward to working with the Biden administration to bolster supply chains and create new job opportunities in America.”

-NAM-

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 $2.32 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.

Press Releases

Timmons Celebrates Clark as U.S. Chamber’s Next CEO, Honors Donohue’s Legacy

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released this statement following the announcement of Suzanne Clark to succeed Tom Donohue as CEO of the U.S. Chamber of Commerce.

“Congratulations to my friend Suzanne Clark on her appointment to lead the U.S. Chamber of Commerce. Extraordinarily well respected by her peers, fiercely dedicated to the success of American enterprise and constantly guided by a clear moral compass, she’s long been a strong advocate in the association community. And now, as she steps up as the Chamber’s new CEO, the business association community will be turning to her for inspiration and guidance as we all chart the way forward during this consequential moment in our nation’s history.

“More than ever, our country is counting on the business community to lead—to be part of the solution in healing the divisions in America, in defeating COVID-19 and in rebuilding our economy. We are being called upon to be champions for the values that make the United States exceptional—free enterprise, competitiveness, individual liberty and equal opportunity. And perhaps like no time before, we have a critical role to play in safeguarding our precious American democracy. Knowing Suzanne’s firm belief in this mission, I look forward to working alongside her in the years ahead.

“The NAM and the Chamber have long enjoyed a special relationship, sharing many state and national industry association partners and working together to advance policies that create opportunities for America’s manufacturing workers. Under Suzanne’s leadership, I have no doubt that our partnership will continue to thrive and grow even stronger.

“I also congratulate Tom Donohue on a storied career. He is a true friend and has been a valued mentor. I’ve learned so much from him through the years. Tom is an institution, and he leaves a formidable legacy of growth and success as a champion of American business. I wish him great happiness in his retirement and look forward to the time when we can all gather together and raise a glass to his phenomenal contributions.”

-NAM-

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 12.2 million men and women, contributes $2.32 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.

Press Releases

In Fight Against COVID-19, Partnership on DPA Is Critical

Timmons: “Manufacturers stand ready to continue doing our part.”

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement on the Biden administration’s use of the Defense Production Act:

“Manufacturers have consistently advised the federal government that the Defense Production Act is most productive if deployed in a way that fosters partnership and provides incentives—rather than imposing demands or punitive measures.

“With this announcement, the Biden administration is demonstrating that they have listened to manufacturers and are seeking a true partnership in defeating COVID-19.

“These measures will strengthen our ability to continue providing the treatments and vaccines that we need to save lives, the equipment we need to protect frontline workers and the food and supplies that families need for their everyday lives. Manufacturers stand ready to continue doing our part.

“We will also continue to set the standard for safe behaviors—wearing masks, social distancing, washing hands and, when able, getting vaccinated.”

Background: In December 2020, the NAM sent a letter to members of the Biden COVID-19 Advisory Board, providing manufacturers’ insights on constructive uses of the DPA.

-NAM-

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 $2.32 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.

Press Releases

Manufacturers Honor Former NAM Board Chair Farr on His Retirement

Timmons: David Farr is the quintessential example of how one person can make a profound and positive difference in the world

Washington, D.C. – Following the announcement of Emerson Chairman and CEO and former National Association of Manufacturers Board Chair David Farr’s retirement, NAM President and CEO Jay Timmons released this statement:

“David Farr is the quintessential example of how one person can make a profound and positive difference in the world. I had a front row seat in watching Dave at work, fighting to make not just his own company but every manufacturer in America more competitive and more successful as he served as Chair of the National Association of Manufacturers.

“His passion for manufacturing is no surprise to anyone who knows him. He will quickly tell you that his career was inspired as a kid by visits to the shop floor with his father. After many decades in the business, he gets almost giddy when he talks about the changes in our industry and how much we have contributed to our exceptional country and to the progress of the world.

“During his time as Chair, he played an instrumental and historic role at the White House and in the halls of Congress in securing once-in-a-generation tax reform and highly impactful regulatory certainty, both of which provided a tremendous boost to the industry and new opportunities for America’s manufacturing workers. Because of his relentless drive and dedication, manufacturers invested more in America, hired more American workers and raised wages and benefits.

“A respected executive and champion for his community, Dave has set a high standard for leadership. Many of his NAM Board colleagues benefited from his example. I personally gained much knowledge and perspective while having the opportunity to serve alongside this amazing icon of American manufacturing.

“Knowing his boundless energy, he will undoubtedly continue to be an influential industry voice and a much sought-after expert for years to come. I’m grateful for his years of wise counsel and friendship—not to mention his boisterous sense of humor, including our much-underappreciated banter at our NAM board meetings. Rick and I, along with the entire NAM team, wish Dave and Lelia much happiness as they begin to write their next inspiring chapter.”

-NAM-

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 12.2 million men and women, contributes $2.32 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.

Press Releases

Climate Change: Global Challenge That Requires a Global Solution

Timmons: “As we build our bridge to the future, we must not sacrifice our security today.”

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement on President Joe Biden’s climate executive orders:

“Climate change is a global challenge that requires a global solution and a global partnership, and manufacturers are committed to solving the problem. We believe in an all-of-government approach to the challenge and an all-in approach to energy production. Manufacturers work hard every day developing and producing products that bring down emissions while exploring alternative energy options. But as we build our bridge to the future, we must not sacrifice our security today. North American energy independence is vital to our economic strength and for supporting families and American jobs. We cannot put that at risk by acting without a true global partnership on energy and environmental policy.

“Manufacturers have been calling on Congress to enact a single unified climate policy that meets science-based targets, ensures a level playing field without carbon leakage and preserves consumer choice and manufacturing competitiveness. Government leaders must ensure that manufacturers in the United States—the very people who are developing the technologies and processes that will help us meet the challenge—can continue innovating ways to reduce emissions, protect the environment, provide domestic energy and create jobs.”

The NAM outlined our goals and solutions in our climate policy blueprint, “The Promise Ahead.”

-NAM-

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 $2.32 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.

View More