Press Releases

Washington, D.C. – Following President Joe Biden’s first presidential address to Congress, National Association of Manufacturers President and CEO Jay Timmons released this statement:

“Thanks to the leadership of vaccine manufacturers and the Biden administration’s successful vaccine distribution efforts, Americans are getting back to the activities and the people they love. Though the capacity limits in the House chamber tonight remind us that we still have a long way to go, our future is looking brighter.

“We look forward to working with President Biden to achieve historic infrastructure investment, including the many priorities offered in our ‘Building to Win’ plan, which, in addition to identifying areas of investment, also provides multiple funding solutions.

“Manufacturers have also provided roadmaps on critical issues ranging from immigration to climate change. We’re ready to work with President Biden and members of any party to deliver bipartisan progress on these issues and more, all while ensuring we’re strengthening the manufacturing workforce, not jeopardizing manufacturing growth in the United States.

“To that point, raising taxes on manufacturers—including many small businesses that pay at the individual rate—would stop our recovery in its tracks; we would lose 1 million jobs in just the first two years alone. Small manufacturers would be especially hard hit at this critical juncture, restricting their ability to raise wages and benefits, hire more workers and invest in their communities. Similarly, changes to the longstanding tax rules on the transfer of family businesses to the next generation of manufacturers would cost American jobs.

“Returning to archaic tax policies and one of the highest business tax rates in the developed world is not the way to build our future, nor are federal policies to force workers to join a union. Anti-worker policies like the PRO Act would inject uncertainty by driving a wedge in established employee–employer relationships and curtail future manufacturing investments that support our communities and families.

“As we continue to get armed against COVID-19, manufacturers are focused on building the next, post-pandemic world—one that affords even greater opportunity for all Americans.”

Background:

The NAM continues to put forward commonsense proposals to educate and inform policymakers on ways to strengthen manufacturing in America while achieving our shared objectives.

• Tax Policy Protecting Manufacturing Jobs
• “Building to Win” Infrastructure Plan
• “The Promise Ahead,” Taking Action on Climate
• “A Way Forward” on Immigration
• “Strengthening the Manufacturing Supply Chain”

-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 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. – Following President Joe Biden’s announcement on the 2030 greenhouse gas pollution reduction target, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“Climate change is an issue our generation must tackle. Like past generational challenges—world wars, the space race, the COVID-19 response and vaccine development—manufacturers will lead the way and ensure our country emerges stronger. After all, it is manufacturers who will make the needed products and technologies—clean energy, carbon capture, batteries, microgrids, efficiency, advanced vehicles and more.

“The President’s goal is bold, to be sure. But when have Americans ever been timid in the face of difficulty? We look forward to learning more specific details of the administration’s plan, and manufacturers are ready to work with policymakers on both sides of the aisle to achieve success for our nation and world. As we explain in ‘The Promise Ahead,’ manufacturers’ plan for taking action on climate, we believe that a unified federal policy combined with an equitable and enforceable international agreement is key.

“Meeting President Biden’s ambitious pledge will require manufacturing might and innovation, which means we will also need policies that keep manufacturing strong and competitive—historic infrastructure investment; a tax code that continues to promote investment, job creation and research and development; a diverse and reliable energy supply; incentives for workforce development; and more opportunities to export our innovative products and technologies to other countries. And as manufacturers rise to meet this challenge, the rest of the economy will prosper because for every $1.00 spent in manufacturing, another $2.79 is added to the economy—the highest multiplier effect of any economic sector.

“Manufacturing holds the key to solving this global challenge. Confronting climate change will not be easy. But with the right policies, it is neither the first nor the last challenge that manufacturing ingenuity will solve.”

Background: Today, President Biden announced a new target for the United States to achieve a 50–52% reduction from 2005 levels in economy-wide net greenhouse gas pollution by 2030, building on progress to date and by positioning American workers and industry to tackle the climate crisis.

Earlier this year, the NAM released “The Promise Ahead,” its policy roadmap on addressing climate change.

-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 12.3 million men and women, contributes $2.33 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 U.S. Senate passed the COVID-19 Hate Crimes Act with strong bipartisan support.

“This overwhelmingly bipartisan bill sends a clear and strong message that horrific violence against the AAPI community or any other race- or identity-based violence is incompatible with American values. Manufacturers will not stand by while hateful factions promote racism and intolerance in our communities, and this bill will help us more fully understand the problem so that all of us can take action.

“Manufacturers stand against all forms of hate and believe in a society and a workforce that has a place for all people, regardless of race, ethnicity, age, gender, religion, sexual orientation, gender identity, disability, national origin, economic status or other background. No American should be targeted based on who they are, and everyone should be encouraged to be their authentic selves every day.

“We owe it to ourselves to stay constructively uncomfortable and to have tough conversations about the role racism and discrimination plays in our society. As we work to build the future, manufacturers are committed to building an inclusive America whose strength comes from our diversity.”

-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.

Washington, D.C. – Following the unveiling of Senate Republicans’ infrastructure framework, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“Manufacturers applaud Senate Republicans’ proposal for infrastructure investment, just as we welcomed the release of President Biden’s bold infrastructure plan. This type of give-and-take is how we reach bipartisan consensus, and this is a chance to continue the conversation and restore trust between the parties after months of partisanship.

“Manufacturers’ future depends on historic investment that will empower America to lead the world in modern infrastructure. Building the next, post-pandemic world requires investing in roads, bridges, pipes, waterways, 5G, the electric grid and so much more. As manufacturers have laid out in our ‘Building to Win’ plan, we not only have a vision of where to invest but also how to pay for it without harming manufacturers’ competitiveness. So, we look forward to working with both parties to finally get this done.”

-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 12.3 million men and women, contributes $2.33 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. – Following President Joe Biden’s call to employers across America to do everything they can to help their employees—and their communities—get vaccinated, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“Vaccines are how we get armed against COVID-19, protect our loved ones, grow our economy and get back to the moments we miss. The hard work and innovation of America’s pharmaceutical manufacturers, coupled with the Biden administration’s laser focus on vaccine distribution and the dedication of local vaccination teams across the country, have enabled the administration to double its lofty goal set for the first 100 days.”

President Biden announced that he expects the nation to have administered 200 million shots within his first 100 days. He called on every employer in America to offer full pay to their employees for any time off needed to get vaccinated and announced a paid leave tax credit that will offset the cost for businesses with fewer than 500 employees.

Timmons added, “Manufacturers remain absolutely committed to helping our teams get safely vaccinated. Through our ‘This Is Our Shot’ project, we’re making resources available to answer questions and share the facts about how these vaccines are safe and effective and have reached more than 2.25 million people to date. Additionally, many manufacturers have supported vaccination by giving employees time off to get vaccinated. With a new tax credit, it will be even easier for manufacturers and all employers to offer this option. This is our shot to finally end this pandemic, so we’re going to keep working with the administration, state and local leaders and our member companies to get everyone vaccinated as soon as possible.”

Background on “This Is Our Shot”:

Launched earlier this year, the project, live at NAM.org/ThisIsOurShot, includes six main components: (1) science-based messaging research; (2) emergency industry convening and education, such as webinars; (3) an online vaccine information hub; (4) a PSA campaign; (5) the Yellow and Red Ribbon Initiative (for vaccinated individuals to show their peers they’re a part of the fight); and (6) a rapid response media and digital campaign. Resources available on the webpage are updated regularly, providing the latest information and tools for vaccine outreach and access.

-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 12.3 million men and women, contributes $2.33 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. – Following the release of the National Association of Manufacturers’ study on the impact of proposed tax increases under consideration in Congress, the association is launching a six-figure ad campaign calling on Congress to protect manufacturing jobs. The print, radio and digital ads will run in Washington, D.C., and in key states.

“Corporate tax hikes and other tax reform rollbacks under consideration could lead to 1 million fewer jobs in the first two years alone and would drag down economic growth,” said NAM President and CEO Jay Timmons. “After the 2017 tax reform delivered more globally competitive tax rates, manufacturers kept our promises to create jobs, raise wages and benefits and invest in our communities. Now is not the time to take a step back; it’s time to build the next, post-pandemic world, which can only be done with a competitive tax code.”

Background:

Key findings from the NAM research paper, “Dynamic Estimates of the Macroeconomic Effects of Tax Rate Increases and Other Tax Policy Changes,” on the impact of proposed tax increases include the following:

• America would lose 1 million jobs in the first two years after implementation and cause a loss of 600,000 jobs on average each year over the next decade.
• By 2023, GDP would be down by $117 billion, by $190 billion in 2026 and by $119 billion in 2031.
• Ordinary capital, or investments in equipment and structures, would be $80 billion less in 2023 and $83 billion and $66 billion less in 2026 and 2031, respectively.

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.

Read the full study here and click here for a summary of the study’s details and findings.

-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 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.

Washington, D.C. – The National Association of Manufacturers released a new study detailing the short- and long-term damage to the American economy under tax proposals to increase the corporate tax rate and repeal policies that made manufacturing in America more competitive around the world.

“Manufacturers want to help President Biden achieve his goal of creating jobs in America and strengthening the supply chain so that our country does not face critical shortages, especially during times of national crises.

“As we slowly emerge from the economic catastrophe caused by COVID-19, American businesses are at a pivotal point in our nation’s history. Manufacturers can, and should, lead the economic recovery in the wake of the pandemic. But this study tells us quantitatively what manufacturers from coast to coast will tell you qualitatively: increasing the tax burden on companies in America means fewer American jobs. One million jobs would be lost in the first two years, to be exact,” said NAM President and CEO Jay Timmons.

“After decades of advocating for a tax system that provided competitive rates and modern international tax provisions, manufacturers in America kept our promises following the enactment of the 2017 tax reforms: we raised wages and benefits, we hired more American workers, and we invested in our communities. If we undo those reforms, all of that will be put at significant risk. Manufacturing workers will lose out on jobs, growth and raises. We should be building on that progress, not rolling it back. But the conclusion of this study is inescapable—follow through with tax hikes that give other countries a clear advantage and we’ll see far fewer jobs created in America.”

The study calculated the effects of increasing the corporate tax rate to 28%, increasing the top marginal tax rate, repealing the 20% pass-through deduction, eliminating certain expensing provisions and more. The negative consequences would include the following:

• One million jobs lost in the first two years;

• By 2023, GDP would be down by $117 billion, by $190 billion in 2026 and by $119 billion in 2031;

• Ordinary capital, or investments in equipment and structures, would be $80 billion less in 2023 and $83 billion and $66 billion less in 2026 and 2031, respectively;

• And more.

“There are some who are well-meaning and have suggested that the U.S. corporate tax rate should increase, but not by as much as the 28% proposed. Unfortunately, what that means is that America will still lose jobs and investment, just not quite as much. America just can’t afford that, especially now,” Timmons said.

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

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 focus on 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 $2.32 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

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

“The President’s proposal for historic levels of infrastructure investment reflects many of the investment priorities in the NAM’s ‘Building to Win’ plan, and we look forward to reviewing the details. President Biden’s clear focus on strengthening manufacturing and the workforce of the future shows that he is truly committed to building the next post-pandemic world—one that is stronger and more resilient than in pre-pandemic times.

“Manufacturers have played a leading role in the fight against COVID-19, and we will continue to play a leading role in our economic recovery. When manufacturing is strong, America is strong.

“One thing is clear for our industry, though. Raising taxes on manufacturers would fundamentally undermine our ability to lead this recovery. Our industry fought for decades to achieve a tax system that includes competitive rates and modern international tax provisions. As a result of the 2017 reforms, manufacturers kept our promises: we raised wages and benefits, we hired American workers, and we invested in our communities. Raising taxes on manufacturers here at home would jeopardize all of that and make it more difficult for them to compete in the global economy—putting investment, jobs and livelihoods at risk. We believe strongly in bold infrastructure investment, and we know it can be achieved through a combination of revenue sources like those we identified in the NAM’s ‘Building to Win,’ which includes user fees and bond financing for capital projects. We also know that making the men and women who make things in America pay for the infrastructure projects that will benefit all Americans just doesn’t make sense and would harm their future. Let’s keep moving forward and not turn back the clock to the archaic tax policies that gave other countries an advantage over America.

“To be sure, President Biden’s proposal on infrastructure investment is strong, necessary and welcome. Achieving our shared goals will be the result of debate, discussion and collaboration with the administration and both parties in Congress. We can achieve the President’s investment objectives while holding firm against financing proposals that would severely harm the ability of manufacturers to invest and hire workers here in the U.S. We look forward to engaging with all stakeholders to achieve an outcome that benefits all economic sectors and all Americans.”

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.

-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.

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.

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.