The National Association of Manufacturers today released a major economic analysis documenting the impact on the economy and jobs creation of several policy changes. The report was conducted by the Milken Institute, a nonpartisan and independent think tank in Santa Monica, that used respected and rigorous economic models to assess the impact of proposals.

The report is “Jobs for America,” and the Milken Institute has put up a website with the full study, explanatory slides, and other material: http://www.milkeninstitute.org/jobsforamerica/

“Jobs for America” concludes that proposed corporate tax cuts, export control reforms and key infrastructure investments could create more than 11 million jobs in the U.S. by 2019.

Specifically:

• Reducing the U.S. corporate income tax to match the average of other industrial countries (OECD nations) would boost total employment by 2.1 million jobs.
• A permanent R&D tax credit, increased by 25 percent, could generate 510,000 jobs within a decade.
• Modernizing U.S. export controls would expand exports in high-value areas, increasing total employment by 340,000.
• Investing $425.6 billion across 10 infrastructure categories (including highway and transit, energy efficiency, wastewater treatment, Smart Grid, nuclear, etc.) would generate 10.7 million jobs over three years.

“Jobs for America” provides the substantive economic analysis that should guide policymakers with a clear course of action if, as many assert, jobs is the No. 1 facing the country.

See also NAM release, “New Study Gives Roadmap for U.S. Job Creation and Long-Term Growth”

In his appearance on CNBC’s “Squawk Box” on Wednesday, NAM President John Engler cited the disappointing results of the stimulus bill in arguing for elevating the importance of a long-term highway bill reauthorization that permits investments that support economic growth. From his interview with Becky Quick:

Engler: In the stimulus package, for example, which the NAM took a big leap of faith and we supported that early, but the impact, say, on infrastructure has been pretty negligible. Because the fall-off for local and state revenues for roads and bridges was so precipitous that the federal money really kind of got us back to about level. There was really no net significant gain there.

He did make it clear that the stimulus had merit: What if that spending had not been replaced? But let’s not settle for that inadequate amount.

Engler: I was talking to one of the Senators last week, and he said, you know, some of our prominent road builders in this state are at risk. We need to get that going, so you shouldn’t be delaying …

Quick: At risk because there’s not enough work, or there’s not capital?

Engler: Not enough work. There’s no contracts, there’s no jobs. And we need to have…we shouldn’t be putting off the transportation package for a couple of years. That’s something we ought to be saying: Here’s a seven-year bill. Here’s how much we’re going to ramp that up.

Comments reaffirmed by a Bloomberg story, “Caterpillar, Deere, Missouri Await Road Money as Projects Stall“:

Sept. 24 (Bloomberg) — Missouri wants to widen Interstate 70 between St. Louis and Kansas City to get traffic, and jobs, moving again. Construction-equipment makers Caterpillar Inc. and Deere & Co. stand ready to help.

All are being stymied by a legislative deadlock that has stalled projects in Missouri and throughout the U.S. With revenue from fuel taxes declining, lawmakers are arguing over how to renew a six-year, $286.5 billion spending law that expires in six days.

The House yesterday passed a three-month extension of the highway bill, 335-85. The three-month extension is a much better approach than the 18-month extension some in the Senate and the Administration are advocating. The longer-term extension simply delays decisionmaking for the sake of electoral politics, shortchanging the country and basic investment in the process.

The National Association of Manufacturers supported the stimulus package passed by Congress and signed into law by President Obama, believing it would spur renewed economic growth while addressing needed infrastructure programs.

Many manufacturers we talk to have been disappointed. Dollars for infrastructure seem slower to flow into the economy than expected, and much of the federal spending has gone to help states prop up their budgets and fund social programs. You can argue the merits, but stimulus it’s not.

So Christina Hoff Sommers appears to be onto something when she writes about the skewing of the bill toward non-manufacturing, non-construction, non-infrastructure jobs. Hoff Sommers is a resident scholar at the American Enterprise Institute most known for her book, The War Against Boys. The politics of feminism falls outside our commentary bailiwick, but it’s hard to disagree with the conditions she describes in a new Weekly Standard article, “No Country for Burly Men“:

Men are bearing the brunt of the current economic crisis because they predominate in manufacturing and construction, the hardest-hit sectors, which have lost more than 3 million jobs since December 2007. Women, by contrast, are a majority in recession-resistant fields such as education and health care, which gained 588,000 jobs during the same period. Rescuing hundreds of thousands of unemployed crane operators, welders, production line managers, and machine setters was never going to be easy. But the concerted opposition of several powerful women’s groups has made it all but impossible

Again, we don’t want to venture into the gender wars, but something has gone awry with the stimulus component of the stimulus bill. In today’s Washington Post, there’s a poll story, “Confidence in Stimulus Plan Ebbs, Poll Finds“:

Barely half of Americans are now confident that President Obama’s $787 billion stimulus measure will boost the economy, and the rapid rise in optimism about the state of the nation that followed the 2008 election has abated, according to a new Washington Post-ABC News poll.

Struck by the dominant play of transportation issues in today’s Washington Post:

Page A1, “Inauguration to Close Bridges and Highways”

The U.S. Secret Service and regional transportation officials unveiled a plan yesterday to ban personal vehicles from all Potomac River bridge crossings from Virginia into the District and from interstates 395 and 66 inside the Capital Beltway on Inauguration Day.

The plan would also cordon off a large section of downtown Washington from 4 a.m. to 7 p.m. to help manage the unprecedented crowds expected

Much gnashing of wailing on WMAL talk radio this morning over the apparent overreaction. We remain convinced that the authorities are emphasizing the inconveniences in order to hold down the crowd size. The folks who have paid thousands of dollars for hotel rooms, etc., will be fine, but the hoi polloi will be discouraged.

Page B1, “U.S. Transportation Chief Backs Dulles Rail Project“:

U.S. Transportation Secretary Mary Peters gave the final federal seal of approval to plans to extend Metrorail to Dulles International Airport last night, ensuring that the $5.2 billion project can move forward without restrictions

After a series of regulatory setbacks in 2008, rail to Dulles was revived last month when the Federal Transit Administration discarded long-standing skepticism about the project’s cost and management and sent it on to Peters for final action. Yesterday’s news marks what state, local and congressional boosters said is the government’s irreversible approval of the project.

Page B1, “Rail Gains Momentum As Purple Line Pick”:

Despite its substantially higher cost, light rail has emerged as the clear front-runner among Maryland officials as they prepare to choose a transit system that would link Montgomery and Prince George’s counties.

After more than 20 years of debate, a 16-mile rail line is the widely popular alternative to a rapid bus system, even though light rail could cost three times as much to build and 50 percent more to maintain and operate, according to state estimates.

 
Twenty years of debate? Is that what they mean by shovel ready?

We had the occasion of traveling on Portland’s light-rail system, the MAX, the Monday before Christmas from Portland International Airport to Hillsboro, a distance of  35 miles or so. The trains traveled through the snow and ice when nothing else was moving in town, so that’s a mark in favor of rail over buses. But how important is that weather advantage in the D.C. area? (Washington Post info box, “The Purple Line Debate: Light Rail vs. Bus Rapid Transit“)

The most notable thing about MAX, transportation issues aside? The aggressive lecturing on behavior carried out in bilingual parity. Political correctness meets Emily Post, en Espanol. Weird.

President-elect Barack Obama wants to make improving America’s infrastructure – our roads, transportation systems, rails and waterways – one of his top priorities.

One group that wants to make that a reality is the The New America Foundation. Foundation Senior Fellow Michael Lind will appear on this week’s “America’s Business with Mike Hambrick” radio program to talk about why America is lagging when it comes to infrastructure.

“We’ve inherited a great 20th century infrastructure,” Lind says. “But it’s the 21st century and our competitors, including developed countries like those in Europe and Japan but also rising countries like China, invest far more than we do.”

Congress recently passed the Emergency Economic Stabilization Act of 2008 to help pull our economy out of recession. That law includes several tax provisions that could help manufacturers through this rough economic period.

National Association of Manufacturers Vice President of Tax and Domestic Economic Policy Dorothy Coleman will explain these tax provisions to listeners. Meanwhile, Ace Clearwater Enterprises Vice President Gary Johnson and Bill Morin, Director of Government Affairs for Applied Materials, will talk about how the tax provisions specifically benefited their companies.

There was recently a major development in developing more nuclear power in America. Jarret Adams, spokesman for Areva Corp., will join Mike to discuss his company’s partnership with Northrop Grumman on a new nuclear reactor supply plant in Virginia.

Going green is a trendy thing to do. But did you know being more environmentally responsible and energy efficient can also help manufacturers save some green cash, too? Coachmen Industries Inc. Vice President Tom Gehl will talk about how going green with a line of recreational vehicles has helped the company become more environmentally responsible and reduce expenses.

In our regular segments, Renee Giachino of American Justice Partnership gives us the latest on tort reform and commentator Hank Cox recalls “The Way It Was.” And the National Association of Manufacturers President Gov. John Engler will close the program with “The Last Word.”

For more about “America’s Business with Mike Hambrick” and to listen to the program online, please click here. And for video highlights and more, check out www.americasbusiness.org.

The U.S. House in June overwhelmingly passed legislation to expand protections for people with disabilities. Many businesses employ disabled people and manufacturers were key supporters of renewal of the Americans with Disabilities Act.

House Majority Leader Steny Hoyer (D-MD), the bill’s chief sponsor, will appear on “America’s Business with Mike Hambrick” radio program to talk about how businesses and the disabilities community came together to craft the bill. Hoyer hopes the Senate will take up the bill soon.

“I think we have a bill that’s workable for both sides,” Hoyer says. “A bill that will be effective. And a bill which will carry out the intent of ensuring people with disabilities aren’t discriminated against in our country.”

“America’s Business” will continue exploring the issue of disabled workers with another guest, Assistant Labor Secretary Neil Romano. Romano runs the Office of Disability Employment Policy, which encourages companies to hire disabled people.

Despite worries about the economy a new survey indicates more American and Canadian manufacturers want to expand business at home. Deloitte and Touche Vice Chairman Craig Giffi will join Mike to talk about the survey from the National Association of Manufacturers and the Canadian Manufacturers and Exporters.

There is a misconception that robots will replace human workers. However, FANUC Robotics President Rick Schneider will explain how his company is using robots to help manufacturers boost efficiency, grow their business, and hire more flesh and bone workers.

Americans roads, bridges and other infrastructure are ailing. We’ll talk to Patricia Dalton from the Government Accountability Office about that group’s recent Congressional testimony on the nation’s infrastructure needs. Dalton is managing director of the GAO’s Physical Infrastructure Team.

In our regular segments, Renee Giachino of American Justice Partnership gives us the latest on tort reform and commentator Hank Cox recalls “The Way It Was.” And the National Association of Manufacturers President Gov. John Engler will close the program with “The Last Word.”

For more about “America’s Business with Mike Hambrick” and to listen to the program online, please click here. And for video highlights and more, check out www.americasbusiness.org.

America’s transportation infrastructure – its roads, bridges, and rails – are in crisis, former Missouri Sen. Jim Talent says. The government should make fixing the nation’s ailing infrastructure a national priority, says Talent, a guest on this week’s “America’s Business with Mike Hambrick” radio program.

Talent is an honorary chairman of the National Association of Manufacturers’ Alliance to Improve America’s Infrastructure.

“I think it’s one of the three or four things the government must do in partnership with the American people if America is going to continue to be prosperous and great in the next generation,” Talent says.

The declining U.S. housing market put a damper on the economy. But are things about to turn around? National Association of Realtors Chief Economist Lawrence Yun will give us the scoop.

Exports have proven to be a bright spot in the economy. General Mills Chief Operating Officer Ian Friendly will tell us how his company, which makes popular foods such as Cheerios cereal, is taking advantage of free trade agreements.

Our nation would save countless lives and billions of dollars if we converted our healthcare records system from antiquated paper files to electronic ones. Jennifer Queen, the parent of a chronically ill child, will join us to tell us why health information technology legislation that would modernize the health care sector is so critical to her family and other Americans.

And “America’s Business” will make a special visit to the factory floor of Image National with company President Doug Bender. The Idaho company makes some of the electric signs that light up shopping centers across America.

In our regular segments, Renee Giachino of American Justice Partnership gives us the latest on tort reform and commentator Hank Cox recalls “The Way It Was.” And the National Association of Manufacturers President Gov. John Engler will close the program with “The Last Word.”

For more about “America’s Business with Mike Hambrick” and to listen to the program online please click here. And for video highlights and more, check out www.americasbusiness.org.

The blog entry for “America’s Business with Mike Hambrick” radio program usually appears on Fridays. However, it was delayed until today due to a power outage at the NAM’s headquarters on June 13.

Here’s the rundown on this week’s program:

Oil prices are hitting new records almost daily, hurting consumers and businesses alike. But the United States still has plenty of untapped oil, says former Speaker of the House Newt Gingrich, a guest on this week’s “America’s Business with Mike Hambrick.”

The former Georgia Republican congressman is chairman of American Solutions for Winning the Future. The nonpartisan group has an online petition asking Americans whether they want more domestic oil drilling to help bring down prices. Not surprisingly, many want more drilling.

“In less than three weeks it has gotten 475,000 signatures,” Gingrich says. “We’re adding 30,000 to 50,000 signatures a day now. So it’s building momentum.”

America’s roads, bridges, waterways and rails are aging and need fixing and improvements. But is our government up to the challenge? Rep. Lincoln Davis (D-TN) will join Mike to discuss the issue.

One answer to our nation’s energy crisis could be blowing in the wind. Assistant Energy Secretary Andy Karsner will talk about a recent report that says wind could generate 20 percent of our nation’s energy needs by 2030.

There are more minority engineers in America but more work needs to be done. National Action Council for Minorities in Engineering Inc. Vice President Irving Pressley McPhail will talk about a recent report on diversity in engineering and why the issue is so important to manufacturing.

And “America’s Business” will chat with Munro & Associates Inc. President Sandy Munro. Munro’s company is helping manufacturers become leaner and meaner by helping them boost efficiency and cut costs.

In our regular segments, Renee Giachino of American Justice Partnership gives us the latest on tort reform and commentator Hank Cox recalls “The Way It Was.” And the National Association of Manufacturers President Gov. John Engler will close the program with “The Last Word.”

For more about “America’s Business with Mike Hambrick” and to listen to the program online check out www.americasbusiness.org.