Mixed News on the Jobs Front Highlights the Need for Stable Pro-Growth Tax Policy ASAP

By | Economy, Shopfloor Main, Shopfloor Policy, Taxation | No Comments

Screen Shot 2015-11-12 at 2.10.35 PMAs the saying goes, there’s good news and bad news. Last week’s overall jobs numbers were generally viewed as good news for the overall economy and the labor market. However, as the NAM’s Chief Economist, Chad Moutray, describes it, “One of the larger exceptions to that is manufacturing, which continues to struggle. The sector lost 1,000 employees in November, with zero growth on net since January. Manufacturers remain mired by global headwinds and lower commodity prices. These challenges have dampened demand and production for manufacturers, and as a result, hiring has slowed to a standstill.” Read More

NAM Raises Concerns Over BEPS Requirements to Senate Finance Committee

By | Shopfloor Policy, Taxation | No Comments

Today, the Senate Finance Committee met to discuss the Organization for Economic Co-operation and Development’s (OECD) project on Base Erosion and Profit Shifting (BEPS), a set of proposals on international tax policy approved earlier this fall that will place U.S. companies at a competitive disadvantage globally. Testifying with me today was Robert Stack, Deputy Assistant Secretary for International Tax Affairs at the Treasury Department, and Michael Danilack, Principal at PricewaterhouseCoopers. Read More

Manufacturers Call for Tax Extenders Action on Tax Relief Tuesday

By | Shopfloor Main, Shopfloor Policy, Taxation | No Comments

BRT_TaxExtenders_PrintAdAll year long, the NAM and members of the Broad Tax Extenders Coalition have been urging Congress to act immediately to extend a package of expired tax provisions known as “tax extenders,” forcing this issue to the top of their priority list before the end of the year. Unfortunately, there has not yet been agreement on how to extend the provisions, which is why the NAM is taking the fight to social media and is seeking your help to push for a permanent or multi-year extension of the temporary tax provisions today, Tax Relief Tuesday. Read More

NAM and Coalition of Over 120 Organizations Call for End to PBGC Premium Hikes

By | Shopfloor Main, Shopfloor Policy, Taxation | No Comments

Today, the NAM joined over 120 companies and associations in sending a letter to every member of Congress opposing any further increases in premiums paid to the Pension Benefit Guaranty Corporation (PBGC) by sponsors of single-employer defined benefit plans. As described in the letter, “additional premium increases will only add unneeded uncertainty for employers, stifle job creation, and encourage sponsors to exit the defined benefit pension system.” Read More

State Retirement Programs Creating More Questions Than Answers

By | Shopfloor Policy, Taxation | No Comments

While 83 percent of manufacturing employees and a majority of all private-sector employees have access to a retirement plan through work, some states are pushing legislation to increase access to retirement plans through new state-run programs. The lawmakers supporting these plans want to increase retirement security, but in reality, some of these new programs create more questions for manufacturers than answers. Read More

NAM Highlights Concerns with BEPS, Critical Need for International Tax Reform

By | General, Shopfloor Policy, Taxation | No Comments

NAM Vice President of Tax and Domestic Economic Policy Dorothy Coleman today joined U.S. Sen. Rob Portman (R-OH) and a panel of experts, including representatives from the Organisation for Economic Co-operation and Development (OECD), to discuss key international tax issues, including the Base Erosion and Profit Shifting (BEPS) project recommendations recently released by the OECD. Read More