Circumnetting Manufacturing and the Economy

By August 7, 2010Economy, Taxation, Trade

John Engler, president of the National Association of Manufacturers, explains how important passage of the Miscellaneous Tariff Bill was to manufacturers in the United States and urges President Obama to sign the bill quickly. From The Pittsburgh Post-Gazette, “Manufacturing needs law suspending tariffs“: “Studies show that if enacted, these provisions would increase production by $4.6 billion and support almost 90,000 jobs. Without these tariff reductions, the cost of manufacturers’ products will inevitably increase, forcing them to pass higher costs on to consumers and making their products less competitive.”

Donald Lambro of Human Events, interviews business leaders including Engler about what policies are necessary to revive the U.S. economy. The main piece is “Obama’s Economic Faux Pas Finally Recognized,” and Lambro’s blog post, “Business Leaders Explain How to Create Jobs” reviews the policies recommended by Engler, Frederick W. Smith, chairman and chief executive of Fedex Corp., the National Association of Wholesalers and Distributors, U.S. Chamber Of Commerce, National Federation of Independent Business, Lawrence Kudlow, Wall Street economist and CNBC business analyst, and Arthur B. Laffer, chairman of Laffer Associates.

Larry Kudlow, National Review Online
, “The Washington War on Investment“: “Geithner tries to make a deficit-reduction argument, saying that extending tax cuts for the wealthy will cost $700 billion over the next ten years. But the real debate in advance of the Erskine Bowles deficit commission, which will restructure budget and tax reform, is about a one-year extension of the Bush tax cuts. That’s priced at $30 billion by the White House, about the same as the new bill to aid state and local governments. Which policy would help growth more?”

Thomas F. Siems, senior economist at the Federal Reserve Bank of Dallas, Wall Street Journal, “Government and the Uncertainty Trap“: “Consumers, investors and business leaders are nervous and uncertain regarding the economic outlook, the legislation newly passed and proposed, and how federal, state and local governments will manage public finances. This uncertainty is inhibiting spending and investment and leading to slower economic growth. In short, there is a crisis of confidence in America.”

Leave a Reply