NAM Official urges stimulus legislation by House leaders.
Press Release Summary:
In a letter to House leaders, NAM President and CEO John Engler stressed the need for action in addressing economic challenges. NAM supports extending carry back period for net operating losses, incentives for investment in energy efficiency and renewable energy, investment in health information technology, and additional funding for highways, aviation, and waterways to encourage manufacturing. Engler also supports a 20% income tax deduction for small businesses.
Original Press Release:
NAM President Engler's Letter to House Leaders on Stimulus Bill
Letter Supports Targeted Tax Incentives, Increased Investment
WASHINGTON, D.C. January 28, 2009 - National Association of Manufacturers (NAM) President and Chief Executive Officer John Engler sent a letter to House leaders yesterday urging them "to move quickly on a legislative package to help get America working again."
Engler told majority and minority leaders that manufacturers "recognize that immediate action is needed to address the unprecedented challenges faced by all sectors of the economy," adding that "a balanced tax and investment package designed to have an immediate impact on job providers, and the people who depend on them, will go a long way to spur economic revitalization."
The NAM delineated several specific tax incentives and spending priorities that will encourage manufacturing, including extending the carry back period for net operating losses, broad investment incentives, incentives for investment in energy efficiency and renewable energy, investment in health information technology, and additional funding for highways, aviation, and waterways. In addition, Engler said that a proposed 20 percent income tax deduction for small businesses "would also strengthen the American Recovery and Reinvestment Act by freeing up more money for job creation and investment."
The text of Engler's letter is at: http://nam.org/stimulusletter.
The National Association of Manufacturers is the nation's largest industrial trade association, representing small and large manufacturers in every industrial sector and in all 50 states. Headquartered in Washington, D.C., the NAM has 11 additional offices across the country. Visit the NAM's award-winning web site at www.nam.org for more information about manufacturing and the economy.
CONTACT:
HANK COX
(202) 637-3090
