NAM President and CEO Jay Timmons urged President Biden and congressional leaders to complete and pass the Bipartisan Innovation Act, also known as the China competition bill.
Threat to manufacturers: Timmons cited recent FBI reports that found China to be ramping up its efforts to steal American intellectual property and technology, while also working to undermine American competitiveness by influencing policy decisions and negotiating trade deals with other countries in the region.
The urgency: “There is absolutely no reason to delay or derail legislation that has earned bipartisan support and would support American manufacturing workers for decades to come,” wrote Timmons. “The longer we wait, the further behind we fall.”
Tax stability: Timmons advocated against Congress passing a reconciliation bill to raise taxes. He argued that many of the top challenges facing manufacturers, including high raw material costs, the potential for labor disruptions on the West Coast and ongoing supply chain issues, would be exacerbated by a tax increase.
Passing the Bipartisan Innovation Act: While a tax bill would hamper American competitiveness, Timmons wrote that the Bipartisan Innovation Act “has the power to do exactly the right thing at the right time.”
NAM in the news: POLITICO’s Morning Trade (subscription), Playbook AM and Influence newsletters, along with The Hill, highlighted the NAM’s advocacy on behalf of China competition legislation and against tax increases.