Manufacturers: Legislation Is a Bold, Important Step Toward Ramping Up the Domestic Manufacturing of Essential Inputs
Timmons: Every manufacturer will benefit. But there is more to be done.
Washington, D.C. – Following the House’s passage of the CHIPS-Plus Act, National Association of Manufacturers President and CEO Jay Timmons released the following statement:
“This legislation is a bold, important step toward ramping up the domestic manufacturing of essential inputs used by virtually every part of our industry. Every vote for the CHIPS-Plus Act was a vote for a more competitive manufacturing industry in America. This bipartisan legislation shows that Congress is taking the problems of supply chain disruptions and inflation seriously. Every manufacturer will benefit. But there is more to be done.
“Once President Biden signs it into law, manufacturers will work with lawmakers to build on the momentum and continue our advocacy for important measures that did not make it into the final CHIPS-Plus legislation, including trade measures, anti-counterfeiting protections and other workforce development priorities.
“But if lawmakers are truly serious about competing with China, they will now oppose the tax increases and attacks on pharmaceutical innovation in the latest reconciliation bill proposal, which will certainly lead to continued inflationary pressures. Congress should stay focused on bipartisan solutions, not legislation that weakens our economy and makes us less competitive with other countries.”
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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 12.8 million men and women, contributes $2.77 trillion to the U.S. economy annually 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
New Study: Ports Stoppage Would Be Devastating Hit to Manufacturers’ Competitiveness
Cost Economy Half a Billion Dollars a Day, Destroy 41,000 U.S. Jobs
Washington, D.C. – As negotiations between the Pacific Maritime Association and International Longshore and Warehouse Union near a critical deadline, manufacturers are sounding the alarm about potential economic consequences of a port stoppage if disruption were to occur over two weeks at the ports of Los Angeles and Long Beach, the nation’s largest port complex. According to a study by Inforum Economics, a 15-day disruption would cost the U.S. economy nearly half a billion dollars a day—for a total of $7.5 billion—and destroy 41,000 jobs, including more than 6,100 in manufacturing.
As the industry continues to grapple with historic supply chain challenges, inflationary pressures and rising transportation and energy costs, manufacturers are calling on the parties to reach an agreement immediately to avoid this continued uncertainty.
“The ports of Los Angeles and Long Beach support a major share of cargo relied upon by American businesses and consumers, supporting supply chains across the entire country. With supply chains already stretched thin, inflation at its highest level in four decades and concerns of a recession rising, any disruption would mean a devastating hit to our economy and to manufacturers’ competitiveness,” said National Association of Manufacturers President and CEO Jay Timmons. “The disruption would be felt immediately. Manufacturing jobs will be lost if parts and supplies don’t arrive. New equipment, machinery and products can’t be built when ships are backed up and there is no one available to unload and process cargo. Our overseas customers won’t wait for us to fix these disruptions, either—they’ll simply find other suppliers, weakening U.S. manufacturing competitiveness in the process.
“This is why the Pacific Maritime Association and the International Longshore and Warehouse Union must not allow a disruption at these ports. Manufacturers, our millions of employees and the countless others whose lives and livelihoods depend on the products we make are counting on the PMA and the ILWU to reach a resolution and keep the ports running.”
Background: At the time of publication, the PMA and ILWU are engaged in labor negotiations. The NAM commissioned an analysis using the Inforum LIFT economic model to quantify the impacts of a 15-day closure at the Los Angeles and Long Beach ports. Specifically, it estimates how such a closure would impact U.S. employment, output and income. These ports have experienced historic disruptions and bottlenecks since late 2020, and nearly 84% of manufacturers now list freight and transportation costs as a key driver of inflation.
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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 12.7 million men and women, contributes $2.71 trillion to the U.S. economy annually 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.
Manufacturers Launch Ad Campaign to Protect Manufacturing Competitiveness
Tax Increases Do Nothing to Reduce Energy Costs, Address Supply Chain and Inflation Challenges
Washington, D.C. – Amid historic supply chain challenges and inflationary pressures, along with increasing energy costs, the National Association of Manufacturers is launching a six-figure ad campaign calling on Congress to protect manufacturing jobs by opposing new taxes on the industry, including those meant to punish the very energy manufacturers that are being asked to produce more. The print, radio and digital ads will run in Washington, D.C., and in key states across the country.
“Manufacturers have kept our promises—especially after the 2017 tax reforms—to create jobs, raise wages and benefits and invest in our communities. To keep up this winning record, we need Congress to enact policies consistent with our manufacturing competitiveness agenda. That’s how we’ll strengthen supply chains, expand access to affordable, reliable energy and tamp down inflation. Our industry is ready to keep solving problems and create well-paying jobs—but returning to outdated tax policies will impede our progress,” said NAM President and CEO Jay Timmons.
Background on manufacturing growth following the enactment of tax reform in 2017:
- In 2018, manufacturers added 260,000 new jobs. That was the best year for job creation in manufacturing in 21 years.
- In 2018, manufacturing wages increased 3.1% and continued going up—by 2.9% 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 3.2% in 2018, the best since 2010.
The NAM has published research on the impact of rolling back tax reform (study available here and click here for a summary of the study’s findings) and increasing the U.S. Global Intangible Low-Taxed Income (GILTI) tax burden (study available here).
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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 12.7 million men and women, contributes $2.71 trillion to the U.S. economy annually 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.
Successful Indo-Pacific Framework Critical for Manufacturers
Washington, D.C. – Following the Biden administration’s announcement on the launch of the Indo-Pacific Economic Framework for Prosperity, National Association of Manufacturers Vice President of International Economic Affairs Ken Monahan released the following statement:
“NAM President and CEO Jay Timmons pressed the administration on critical components to the IPEF earlier this year, and manufacturers are encouraged that the framework will address key manufacturing priorities we have outlined in areas such as digital economy, resilient supply chains and transparency and good governance. These priorities are essential for manufacturing businesses and workers for a region that represents more than two-fifths of total U.S. manufacturing trade and is a market for U.S. exports that support nearly 2 million American jobs.
“As discussions continue, we’re looking for U.S. leaders to support manufacturing jobs by taking an approach that opens markets, strengthens U.S. innovation and technology leadership, raises global standards and establishes best-in-class trade rules.”
Background: NAM President and CEO Jay Timmons stressed in a February letter to senior administration officials that high-standards trade with the Indo-Pacific is critical to manufacturers’ success and global competitiveness. Additionally, the NAM submitted comments on the IPEF in April to the Office of the U.S. Trade Representative.
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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 12.7 million men and women, contributes $2.71 trillion to the U.S. economy annually 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.
Manufacturers: A Time of Challenge and Uncertainty
Timmons: “More committed than ever to focus on policy—not politics, personality or process”
Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons today released the following statement in response to President Biden’s State of the Union address:
“President Biden rightly focused on many policies that will keep manufacturing strong in America amid a global crisis. We strongly agree that the bipartisan infrastructure law was an accomplishment of historic proportion, and we continue to support its swift implementation.
“We are ready to work with anyone to advance policies that will strengthen the industry, but we strongly oppose proposals that would weaken our industry and threaten our recovery, including undoing the progress of tax reform and imposing policies that would disrupt our workplaces. Manufacturers are working hard to fill more than 800,000 open jobs and connect more Americans with rewarding careers, and some of the actions outlined tonight would make it harder for us to solve this top challenge.
“We couldn’t agree more, however, that supply chain issues must remain a focus for lawmakers, and we’re going to continue working with both parties to deliver final competitiveness and supply chain legislation and build on the steps the administration is taking. In this time of challenge and uncertainty, we’re more committed than ever to focus on policy—not politics, personality or process.
“As the United States and our allies continue to lend support for Ukraine’s fight for its democracy, President Biden used his State of the Union address tonight to rally Americans and the world in support of the cause and rightly emphasized the importance of American leadership and defending our shared values when so much is at stake. Manufacturers join this call for unity.”
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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 $2.57 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.
Business Leaders Urge Resolution of U.S.-Canada Border Blockade
The National Association of Manufacturers, U.S. Chamber of Commerce and Business Roundtable today issued the following statement on the disruptions to trade at U.S.-Canada border crossings:
“The disruptions we are seeing at the U.S.-Canada border — at the Detroit-Windsor Ambassador Bridge and at other crossings — are adding to the significant supply chain strains on manufacturers and other businesses in the United States.
“The business community is rolling up its sleeves to find workarounds and keep facilities up and running, but we are already seeing some production cuts, shift reductions, and temporary plant closures. The North American economy relies on our ability to work closely together, including our manufacturing sectors. We need to apply the same spirit of cooperation to tackle this problem.
“We respectfully urge the Canadian government to act swiftly to address the disruption to the flow of trade and its impact on manufacturers and other businesses on both sides of the border. We appreciate that the Biden Administration is engaged with the Canadian government, and we strongly encourage officials to continue efforts to resolve these blockages at the border.”
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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.
Manufacturers: Now That This Historic Bill Has Become Law, We Can Build a Future Worthy of the Next Generation
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.
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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 $2.5 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.
Manufacturers: This Moment and the Transformational Change It Will Bring About Has Been Decades in the Making
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.
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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.
Manufacturers Counting on Congress to Vote for Historic Infrastructure Investment
Washington, D.C. – In advance of tomorrow’s scheduled vote in the U.S. House of Representatives on the Infrastructure Investment and Jobs Act, National Association of Manufacturers President and CEO Jay Timmons released this statement:
“Congress faces a critical vote tomorrow on historic, bipartisan infrastructure investment. Our lawmakers have an opportunity to demonstrate they can continue to work together to accomplish bold initiatives that make America stronger. One thing is certain: it is impossible to claim to be ‘for the worker’ and for the middle class while actively derailing generational investments to the infrastructure these people use every day. The more than 12 million men and women of manufacturing are counting on lawmakers to send this vital legislation to President Biden’s desk now.”
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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 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.
ICYMI: NAM’s Jay Timmons Discusses Creators Wanted, COVID-19 Vaccines and Reconciliation on CNBC
Timmons on Labor Shortages, Creators Wanted Campaign
“Let’s be upfront about it. We have a very severe worker shortage in our country right now. It’s why the NAM has been so focused on our Creators Wanted campaign, to attract that next generation of manufacturing workers, and we are in competition now all across every sector for workers.
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“So, if you think about supply chain shortages, why is that happening? Part of it certainly is the pandemic and the ability for trade to move freely, but you also have issues of not enough people at factories producing the component parts that go into finished products. What does that lead to? That leads to higher prices. So, it’s a supply and demand issue. Jim Cramer earlier today talked about a focus on getting this worker shortage under control. He mentioned, for instance, one possibility of helping to deal with this is immigration reform and that he thinks that there is a potential bipartisan solution to that. I believe there is as well. We have been pushing that through our program called A Way Forward at the NAM for a number of years. We think that’s one thing that will help get the economy back and deal with some of these issues.”
Timmons on Separating Infrastructure Investment from the Budget Resolution
“I think it was an extraordinary achievement by the Senate, a bipartisan achievement by Republicans and Democrats to get that bill across the line. We said at the NAM from the start that we would see probably about $1.2 trillion without punishing and archaic tax increases that would take us back to a time when we weren’t able to invest and hire and grow wages like we have for the last three years…We think that this bipartisan solution needs to get across the finish line. This is a very big priority not only for the president, but also for the American people. We know that can get done.
“…the reconciliation package that may be being developed…we have some serious concerns. We will certainly oppose any of the archaic tax increases that have been discussed. We are hearing somewhere between $1.8 and $3.5 trillion on job creators in America. That would take us to where we were before the 2017 tax reforms, where, afterwards, as I said, we were able to have record investment, record job creation, record wage growth. Why would we ever want to undo that? We are watching that very closely. We will oppose the bill with any of those factors in there. We will oppose the pharmaceutical issues that are in those bills that will stop us from being able to deal with the next pandemic. And we are going to oppose the labor provisions that would drive a wedge between management and our workers. There are a lot of things in that bill we don’t like. But infrastructure, BIF as it’s called in Washington speak, needs to get across the line right away. It’s an accomplishment we can all be proud of.”
Timmons on the NAM’s Vaccine Mandates
“I am so proud of the NAM team…We had a…94% vaccine acceptance rate before we imposed the mandate, and since then…we have achieved 100%. And I am thrilled because our team cares about not only themselves and their families, but also the people that we interact with every day—our 14,000 member manufacturers across the country. It’s the responsible thing to do, and I am happy that team NAM came through.
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“What I hear from every single CEO that we represent is that their number-one concern is their employees, the health of their employees, the health of their employees’ families and their communities…It’s become political at times, but it doesn’t need to be. The last administration through Operation Warp Speed helped develop a vaccine in just record time with all the safety protocols in place. This administration is executing the vaccinations across the country. It’s a bipartisan effort, a nonpartisan effort, I would say, to make sure that our communities are safe, that our country is safe and the world can return to normal. It’s the only way it’s going to happen—we know that.”
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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 $2.44 trillion to the U.S. economy annually, 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.