NAM VP Makes Statement on Senate derivatives bill.
Press Release Summary:
Dorothy Coleman, NAM Vice President for Tax and Domestic Economic Policy, issued a statement following Senate Agriculture Committee's markup of financial services reform legislation. Citing that "many manufacturers rely on over-the-counter derivatives to manage the risks of day-to-day business operations," Coleman noted that "We are encouraged that the bill...recognizes the importance of these risk management tools."
Original Press Release:
NAM Statement on Senate Derivatives Bill
Manufacturers Highlight Need for Commercial End-User Exemption
WASHINGTON, D.C. - The National Association of Manufacturers (NAM) Vice President for Tax and Domestic Economic Policy Dorothy Coleman issued the following statement today following the Senate Agriculture Committee's markup of financial services reform legislation:
"Many manufacturers rely on over-the-counter derivatives to manage the risks of day-to-day business operations. We are encouraged that the bill approved this morning by the Senate Agriculture Committee recognizes the importance of these risk management tools to end-users like manufacturers. Efforts to exempt end-users from any clearing or margining requirements that could divert needed capital from business operations and job creation will be critical as this financial services reform continues to be debated. The NAM and its member companies look forward to continuing to work with members of Congress from both parties to advance pro-growth, pro-manufacturing legislation that provides needed transparency and stability in our country's financial system without imposing new costs on manufacturers."
-NAM-
The National Association of Manufacturers is the nation's largest industrial trade association, representing manufacturers in every industrial sector and in all 50 states. Manufacturing has a presence in every single congressional district providing good, high-paying jobs. For more information about the Manufacturers, visit www.nam.org.
