NAM lauds Congress for boosting manufacturing
National Association of Manufacturers president John Engler offered praise and gratitude to the 109th Congress for enacting legislation vital to manufacturing before adjourning for the year.
The NAM welcomed a seamless extension and strengthening of the research and development tax credit, which is a proven, innovation-spurring incentive used primarily by manufacturers. The association also was pleased by provisions on health savings accounts that allow more employers to offer HSAs, and more employees to enroll in them.
“By sending the president legislation that increases our economic security and strengthens our competitiveness in the global marketplace, Congress has helped level the playing field for manufacturers,” Engler said.
In particular, Engler commended action allowing access to domestic energy supplies in the outer continental shelf.
“Exploring the OCS is an important step toward a more abundant, flexible and affordable energy supply that is critical to the U.S. economy,” he said.
Turning to trade, Engler also praised inclusion of a number of key trade initiatives, including the Miscellaneous Tariff Bill, the Generalize System of Preferences, the Andean Trade Preferences Act and Permanent Normal Trade Relations for Vietnam.
“These are all critical trade programs for U.S. manufacturers and our trade partners in the development world,” he said.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey