News & Insights
Tax Q&A with Rep. Nathaniel Moran (R-TX)
NAM: Rep. Moran, H.R. 1 created a new deduction for qualified overtime compensation, available through 2028. Manufacturing is one of the sectors where overtime is most prevalent—production demands, shift scheduling and seasonal surges mean manufacturing workers regularly put in hours well beyond 40 per week. What does this deduction mean specifically for manufacturing workers, and …
NAM Urges Chemicals Policy Modernization
The NAM supports the administration’s moves to streamline regulations for manufacturers while continuing to protect public and environmental health, and three recent actions by the Environmental Protection Agency seek to do just that. What’s going on: In recent months, the EPA has launched the reconsideration of three 2024 regulations: the Commercial Sterilization National Emissions Standards …
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Permits Rebound as Multifamily Construction Strengthens
Building permits increased 5.8% in April but ticked down 0.2% over the year. Permits for single-family homes in April declined 2.6% and 5.5% over the year. On the other hand, permits for buildings with five or more units surged 22.7% from March and 11.5% over the year. In April, housing starts decreased 2.8% from March …
Flash PMI Sets a New Cycle High as Supply Disruptions Drive Costs Higher
The S&P Global Flash U.S. Manufacturing PMI rose for the 10th consecutive month from 54.5 to 55.3 in May, a 48-month high. Factory production improved at its fastest rate since April 2022, while new orders growth slowed but marked its second-fastest pace of growth over the past four years. Meanwhile, export orders continue to decline …
Philly Manufacturing Activity Contracts, but Outlook Improves
In May, Philadelphia’s regional manufacturing activity contracted slightly after four consecutive months of growth, with the index for general business activity falling from 26.7 to -0.4. This month, 22.9% of firms noted decreases in activity, while 22.5% reported increases. New orders declined, moving from 33.0 to -1.7, while shipments grew at a slower pace, dropping …
