Press Release Summary:
NAM President and CEO Jay Timmons, in his statement following President Obama's State of the Union address, called the existing cost gap - the fact it is 20% more expensive to manufacture in U.S. as compared to largest trading partners - "self-inflicted by Washington." Demanding action as opposed to rhetoric, Timmons cited NAM roadmap and said that this current administration must actively address overregulation and overreach as well as tax reform.
Original Press Release:
Manufacturers: State of the Union Needs Action Behind It
A True Manufacturing Renaissance Goes Beyond Words
Washington, D.C. - National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement today following President Obama's State of the Union address:
"Tonight the President focused on the need to create jobs, shore up our energy security through increased domestic production and revive manufacturing in America. Yet his decision last week to reject the Keystone XL killed the promise of nearly 20,000 manufacturing and construction jobs along with the 118,000 indirect jobs that would ripple across our economy. The Keystone XL pipeline could have accomplished the goals espoused in tonight's speech and its rejection undermines the President's commitment to them.
We agree with the President on one point. Manufacturers are poised for a renaissance. However, it is 20 percent more expensive to manufacture in the U.S. compared to our largest trading partners. This cost gap is a barrier that must be eliminated. The existence of this gap is not the work of our competitors but rather is self-inflicted by Washington. We have the opportunity to fix it and to reaffirm the global leadership of manufacturing in the U.S.
The Obama Administration must take action to put an end to the rampant overregulation and overreach by the National Labor Relations Board and the Environmental Protection Agency. We need action on comprehensive tax reform that will lower the corporate tax rate so that we can compete for investment across the globe. Tax reform must also lower the rates of the 65 percent of manufacturers that file as individuals for the good of the economy and jobs. An aggressive trade policy that opens new markets is essential so America does not stand idle while other nations move into those markets. As consumers of one-third of our nation's energy supply, manufacturers embrace a true 'all-of-the-above' energy policy - not one subject to the political winds.
Those policies are part of the NAM's roadmap, A Manufacturing Renaissance: Four Goals for Economic Growth, which will take us to that ultimate goal - where America will be the best nation to manufacture, innovate and serve as the hub of the global marketplace. It is time for action rather than rhetoric so that we may achieve these goals to lower the cost of doing business in the U.S. and make us more competitive."
The National Association of Manufacturers is the largest manufacturing association in the United States, 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 or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.