Press Releases

Washington, D.C. – Today, the leadership of the National Association of Manufacturers released the following statements on the need for action surrounding proposed bipartisan infrastructure legislation:

“Manufacturers have called for this type of bold bipartisan infrastructure investment for many years, across multiple congresses and administrations, so Congress should waste no time in sending the plan to President Biden’s desk,” urged NAM President and CEO Jay Timmons. “We have watched America’s infrastructure deteriorate for too long as other nations invested in their own, aiming to outcompete the United States. Too often, it has cost us livelihoods and lives. This plan will bolster America’s competitiveness, strengthen the manufacturing industry and give American workers the foundation to build a new, post-pandemic world. This framework, which leaders in both parties and President Biden have embraced, confirms what manufacturers have said—that corporate tax increases are not the way to fund infrastructure. And with this legislation and its investments not just in roads and bridges but also waterways, the electric grid, advanced telecommunications and so much more, we can make history—and we can build that future and build to win.”

Trane Technologies Chairman and CEO and NAM Board Chair Mike Lamach added, “All Americans will reap the benefits of this bold, bipartisan plan. For manufacturers, it means we’ll be able to better deliver for our customers. We’ll be better prepared to compete in the world. Our communities will be safer, our employees will be healthier, and our companies will be stronger. We stand behind this plan and want to see it move forward quickly in support of positive change for generations to come.”

“There’s no doubt that such strong investment in our nation’s infrastructure will move us forward in a profound way. As with any compromise agreement, there are concerns on both sides,” said Dow Chairman and CEO and NAM Board Vice Chair Jim Fitterling. “Manufacturers and those who use everyday products are certainly concerned about the funding proposals related to new Superfund taxes, and we will work with lawmakers to address those—because we believe the infrastructure package should avoid targeting specific sectors, particularly when new taxes might inadvertently harm consumers and a critical sector of the manufacturing economy.”

BTE Technologies President and NAM Small and Medium Manufacturers Group Chair Chuck Wetherington noted, “America’s small and medium-sized manufacturers know far too well the costs of navigating around clogged roadways and crumbling bridges. We know the costs of shipping delays and the stress and strain on our employees as they commute. We know what it’s like to worry about power failures and what it takes to install and operate the latest digital technologies on our shop floors. So, for small manufacturers, this bill offers a boost of confidence and optimism. It will allow us to focus more of our energy on what we do best: creating jobs and creating opportunity.”

“Whether you’re running a family business or focused on the business of your family, you don’t need anyone to tell you that America’s infrastructure needs help. After all, it’s estimated that outdated infrastructure costs families $3,300 in disposable income every year. Small manufacturers are dedicated to the success of our hometowns—and we can’t wait to see what we’ll be able to accomplish once this plan becomes law. Let’s make this plan a reality,” emphasized Ketchie President and Owner and NAM SMM Vice Chair Courtney Silver.

-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 $2.35 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.

Washington, D.C. – Today, following the release of the Senate’s bipartisan infrastructure plan, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“This is how we build to win. This shows that governing with big ideas is still possible in America. Bold infrastructure investment will secure a better future for our nation and industry and help more Americans reach their full potential. And building it on a foundation of bipartisanship and consensus will help restore faith in our institutions—and prove that America can still bridge party divides to do great things.

“We look forward to reviewing this proposal with our members as more details are shared so we can provide meaningful feedback to policymakers. And manufacturers commend this group of lawmakers for their commitment to forging this potentially historic agreement.”

-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 $2.35 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.

Washington, D.C. – The National Association of Manufacturers released its Manufacturers’ Outlook Survey for the second quarter of 2021. “Attracting and retaining a quality workforce” and “rising raw material costs” remain manufacturers’ biggest concerns for the second straight quarter. Despite those concerns, manufacturers predicted some of the highest expected growth rates in the survey’s history and the most positive outlook since the third quarter of 2018.

“Manufacturers see an incredible future on the horizon and are predicting growth numbers unheard of in the more than two-decade history of this survey,” said NAM President and CEO Jay Timmons. “But yet, a dark cloud still hangs over the industry. Manufacturers face long-term workforce challenges, with a record-high 851,000 open manufacturing jobs right now and more than 4 million to be filled over the next decade. While a very serious concern, manufacturers are doing everything we can to meet this challenge. The NAM and The Manufacturing Institute’s Creators Wanted campaign, including a first-of-its-kind mobile manufacturing experience, will cover thousands of miles in the second half of this year tackling the top two issues facing this critical workforce challenge: a skills gap and misperceptions about modern manufacturing.

“To keep this momentum going, elected leaders in Washington should advance policies that will enhance our competitiveness and strengthen our industry, starting with delivering bipartisan infrastructure investment. Failing to do so will rob generations to come of the opportunity to achieve their highest potential. Conversely, moving forward with proposed tax increases, as our studies have shown, would mean 1 million jobs lost in just the first two years. Anti-worker laws like the forced unionization PRO Act would upend our workplaces. Whether today’s manufacturing optimism is a passing moment or a new normal has a lot to do with the choices our elected leaders make.”

Survey highlights:

• 90.1% manufacturer optimism, highest since Q3 2018
• 3.7% expected growth in full-time employment, a record high
• 6.1% expected growth in sales over the next 12 months, a record high
• 5.9% expected growth in production over the next 12 months, a record high

Read the full Q2 2021 Manufacturers’ Outlook Survey results here.

Background on Creators Wanted:

The NAM, together with the MI, launched the Creators Wanted campaign, an unprecedented national effort to build the modern manufacturing workforce of tomorrow. By 2025, Creators Wanted aims to reduce the skills gap in the United States by 600,000, as well as increase the number of students enrolling in technical and vocational schools or reskilling programs by 25% and increase the positive perception of the industry among parents to 50% from 27%.

Creators Wanted is part of a digital campaign together with a first-of-its-kind mobile traveling manufacturing experience, and it is part of sustained initiatives at the MI targeting youth, veterans, women and other underrepresented communities.

-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 $2.35 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.

Washington – Today, Jay Timmons, President and CEO of the National Association of Manufacturers, Joshua Bolten, President & CEO of Business Roundtable, and Suzanne Clark, President and CEO of the U.S. Chamber of Commerce, issued the following statement:

“There is a clear path forward for bipartisan agreement on meaningful infrastructure legislation. We urge Congress and the Administration to seize this opportunity – one that has eluded policymakers for years – to enact significant investment and durable reforms that would strengthen the economic recovery and create the conditions for high-paying jobs over the long-term.

“Our organizations are united in the belief that a major investment in physical infrastructure can, and should, be financed in a manner that will help grow our economy and enable U.S. businesses to compete globally as we emerge from the pandemic. Specifically, instead of tax increases that would harm American businesses and workers, Congress can fund these critical infrastructure investments with a combination of public-private partnerships, user fees, and reallocated unused federal appropriations, among others. We also believe that public debt and bonding authority is an appropriate and logical funding source for capital projects with a multi-decade useful life span.

“A bipartisan deal is within reach, and at a time when our competitiveness around the globe is at stake. Congress and the Administration should continue bipartisan negotiations and pursue a regular order process. Now is the time to do the right thing for the country – not fall further behind.”

-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 $2.35 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.

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement after the Biden administration’s completion of their 100-day review assessing vulnerabilities in, and strengthening the resilience of, critical supply chains.

“Our industry is grateful for the administration’s continued focus on investments in manufacturing in America. Ramping up production in the United States is one of the key ways we alleviate the supply chain challenges that have been affecting our industry and all American families.

“Succeeding in a global economy also requires the ability to manufacture where customers are; after all, 95% of customers live outside of the United States. The NAM has been leading on supply chain issues, providing initial recommendations for policymakers back in spring 2020. We look forward to working with the administration and learning more about these specific proposals while also continuing our work to ensure we maintain a business climate in the United States that attracts investment and promotes growth and job creation.”

Background:

In May 2020, the NAM released a detailed agenda of policy recommendations to strengthen the manufacturing supply chain in America.

In February 2021, President Biden signed E.O. 14017 directing his administration to conduct a 100-day review of, and address vulnerabilities in, America’s critical supply chains.

-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 $2.35 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.

Washington, D.C. – A U.S. District Court judge has placed Institutional Shareholder Services’ lawsuit against the Securities and Exchange Commission in abeyance pending the outcome of the SEC’s recently announced review of its proxy firm rule. ISS is seeking to overturn a National Association of Manufacturers–supported rule that protects investors by enhancing transparency and accountability for so-called “proxy advisory firms.”

The court’s order comes on the heels of Chairman Gary Gensler’s directive to SEC staff to review the proxy firm rule and the Division of Corporation Finance’s announcement that it will not recommend enforcement action to protect businesses and investors from the firms’ errors and conflicts of interest while said review is ongoing.

“We are disheartened by the SEC’s decision to abandon its defense of these vital reforms just days before a federal judge was to hear oral arguments outlining—as detailed by both the NAM and the SEC over the past several months—why this lawful, reasonable and minimally burdensome rule must be upheld,” said NAM Senior Vice President and General Counsel Linda Kelly. “Although the case is currently stayed, the Manufacturers’ Center for Legal Action will continue to represent manufacturers’ interests—including by calling out any efforts to bypass the required notice-and-comment process to keep this lawfully issued rule on ice indefinitely.”

The NAM will continue to engage directly with the SEC during its ongoing review, as it did throughout the years-long rulemaking process that led to the final rule.

“The NAM championed the SEC’s efforts to bring appropriate oversight and transparency to proxy advisory firms, and manufacturers strongly oppose any efforts to rescind the rule’s critical reforms, which protect the interests of manufacturing workers,” said NAM Senior Vice President of Policy and Government Relations Aric Newhouse. “This rule was developed following years of debate and multiple rounds of public comment, and there is no justification for repealing it less than a year after finalization, without any chance for its vital investor protections to take effect and be fairly evaluated. If the SEC does decide to move forward, any changes must be proposed via notice-and-comment rulemaking with robust opportunities for the public to weigh in on the SEC’s new approach.”

Background:

In October 2020, the NAM filed a motion to intervene in ISS v. SEC, followed by a motion for summary judgement outlining why the SEC’s lawful, reasonable and minimally invasive rule must be upheld. The NAM has long advocated for increased oversight of proxy advisory firms—little-known, unregulated entities that exert enormous influence over publicly traded manufacturers. These firms have significant conflicts of interest and issue error-filled, one-size-fits-all proxy voting recommendations that can impact the direction of a business and the value of investors’ shares. In July 2020, the SEC issued final regulations limiting proxy firms’ outsized influence, a move NAM President and CEO Jay Timmons called a “long-sought, major win for the industry and millions of manufacturing workers.”

-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 $2.35 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 nam.org.

Washington, D.C. – Today, following the release of President Joe Biden’s budget for FY 2022, National Association of Manufacturers President and CEO Jay Timmons released this statement:

“A budget is an important statement of a president’s priorities, and manufacturers are pleased to see President Biden prioritizing bold investments in infrastructure. The president’s clear commitment to ‘investing in ourselves’ is encouraging—and infrastructure is the right place to start. Manufacturers will continue working with both parties to secure a strong infrastructure deal.

“We know the president wants America to succeed and lead, and we agree. There are differences of opinion, however, on how to accomplish that laudatory goal. That is why we remain steadfast in our view that the competitive tax structure for businesses in America that was enacted in 2017 must not be disturbed. After the 2017 tax reform law, America saw the best year for manufacturing job creation in more than two decades, and the NAM’s recent tax study showed that tax increases under consideration would eliminate 1 million jobs in just the first two years. We can’t truly move forward as a country if we take a giant step backward with archaic tax laws.

“Manufacturers are confident that by working together in a bipartisan manner, we can find common ground that lifts everyone up and leaves no one behind. We look forward to continuing to work with the administration and members of the House and Senate from both political parties to accomplish exactly that.”

-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 $2.35 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.

Washington, D.C. – The National Association of Manufacturers has launched a national television and digital advertising campaign urging lawmakers to stand up for manufacturers that make lifesaving medicines, including the COVID-19 vaccines that are now getting us back to work safely, by opposing H.R. 3 and its foreign-styled price setting on critical pharmaceuticals.

The campaign calls on members of Congress from both parties to oppose policies that would slow our private-sector research engine in its tracks and diminish America’s ability to rapidly develop lifesaving cures by leaving us less prepared to respond to future crises and more reliant on other nations.

“We learned the hard way during the pandemic that we cannot rely on others to protect our nation’s health. Congress must stand up for its innovators and manufacturers whose medicines and treatments keep us healthy. They should oppose H.R. 3 and its top-down government-led controls that would undermine our ability to respond to our health care needs and develop lifesaving cures. When COVID-19 attacked, manufacturers delivered the vaccines that are now putting Americans back to work safely, reopening our economy and letting us get back to the moments we miss. Now is not the time to weaken our ability to respond to the next crisis or abandon American values of free enterprise. We are calling on members of Congress to stand with manufacturers and oppose H.R. 3,” said NAM President and CEO Jay Timmons.

This new television and digital advertising campaign is running in media markets across the nation and follows NAM efforts to oppose drug price controls that have included numerous television, radio and print advertisements featured in nationwide outlets. To view the ad, click 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 $2.35 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.

Washington, D.C. – National Association of Manufacturers President and CEO Jay Timmons released the following statement on the passing of former U.S. Sen. John Warner:

“John Warner was an American legend. We mourn the loss of this great statesman, but we should also learn from the example of his life. He was the ultimate public servant, one who fearlessly put country over politics and who knew that reaching compromise and consensus in service of the nation was a virtue, not a vice. And for that he was admired by his staff, revered by his colleagues, appreciated by his constituents and respected by leaders all around the world.

“Sen. Warner was a friend of manufacturers. And as a veteran of World War II and the Korean War, as well as a former Secretary of the Navy and Chairman of the Senate Armed Services Committee, he understood well our industry’s role as the arsenal of democracy. Our industry is grateful for his lifetime of leadership.

“I was fortunate to see Sen. Warner in action firsthand. When I was on staff in the Senate, his office was down the hall. I vividly remember walking into a shattered Pentagon with him after 9/11. And I also recall all the small kindnesses he offered through the years. He never failed to ask how you were doing. He cared, and he stayed in touch, and that is why he forged so many unbreakable bonds of friendship through the years—with people from all walks of life.

“We need more leaders like Sen. Warner in American life. We need more statesmen who can bring us together. May his memory be an inspiration.

“We are keeping Jeanne, his children, his entire family and many loved ones in our prayers.”

-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 $2.35 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.

Washington, D.C. – As Congress and the Biden administration continue to make progress on negotiations to invest in our nation’s failing infrastructure, the National Association of Manufacturers released a new study detailing the short- and long-term damage to the American economy if the corporate tax rate were raised to 25%, the top marginal tax rate were increased, the 20% pass-through deduction were repealed, certain expensing provisions were eliminated and more.

In April, the NAM released a study on the harmful impacts of rolling back key provisions of the Tax Cuts and Jobs Act, including raising the corporate tax rate to 28%.

“Manufacturers are encouraged by the bipartisan negotiations continuing this week. Infrastructure investment and retaining competitive tax policies are a win–win for America. But there are some still advocating for increasing taxes on manufacturers—just not quite as much as the 28% proposed originally by President Biden. They might mean well, but that doesn’t change the fact that America will still lose jobs and investment in our communities at a time when manufacturers are working to build the post-pandemic world,” said NAM President and CEO Jay Timmons.

The negative consequences would include the following:

• One million jobs would be lost in the first two years.
• The average reduction in employment would be equivalent to a loss of 500,000 jobs per year over the next decade.
• By 2023, GDP would be down by $107 billion, by $169 billion in 2026 and by $89 billion in 2031.
• Ordinary capital, or investments in equipment and structures, would be $70 billion less in 2023 and $70 billion and $51 billion less in 2026 and 2031, respectively.
• And more.

Click here for a summary of the study’s details and findings. Read the full study, “Dynamic Estimates of the Macroeconomic Effects of Tax Rate Increases and Other Tax Policy Changes,” conducted by Rice University economists John W. Diamond and George R. Zodrow,” here.

National Association of Manufacturers President and CEO Jay Timmons will host a media conference call today at 1:15 p.m. EDT following this year’s NAM State of Manufacturing Address.

You can watch the 2021 NAM State of Manufacturing Address beginning Friday at noon EDT here. RSVP to [email protected] for conference call details.

Background on manufacturing growth following the enactment of tax reform in 2017:

• 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% and continued going up—by 2.8% in 2019 and by 3% in 2020. Those were the fastest rates of annual growth since 2003.
• Manufacturing capital spending grew by 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.

Manufacturers strongly support President Biden’s call for bold infrastructure investment, which can be achieved through a combination of revenue sources like those identified in the NAM’s “Building to Win.”

-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 $2.35 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