During the current debate on legislation to repeal Obamacare, the Senate may have the opportunity to vote on a provision—introduced by Senator Franken (D-MN)—that would eliminate the ability of companies to deduct advertising and promotional expenses related to prescription drugs. This is a misguided idea and we urge Senators to reject this proposal. Long recognized as a legitimate and necessary business expense, advertising plays a critical role in the competitiveness of manufacturers and the success of their products. Advertising also plays a central role in driving market growth and innovation, which benefits both the manufacturer and the consumer. In doing so, advertising also helps drive prices down by spurring competition. In contrast, disallowing a deduction for direct-to-consumer advertising of prescription drugs increases the costs to pharmaceutical companies by denying a legitimate business expense and also unfairly targets a specific industry for discriminatory tax treatment.
Senators Fischer (R-NE), Gardner (R-CO), Booker (D-NJ) and Schatz (D-HI) introduced the NAM-supported Developing Innovation and Growing the Internet of Things (DIGIT) Act today. This legislation creates a strategic partnership between manufacturers and the public sector focused on fostering the growth of the IoT. The NAM looks forward to working with both the House and Senate to move this bipartisan bill. Read More
In the final hours before Congress went home for the holidays, it passed a bill that places a priority on innovation and the important role basic research plays in today’s manufacturing economy. The House and Senate both unanimously passed S. 3084, the American Innovation and Competitiveness Act.
Autonomous vehicles. Smart phones. Lifesaving medicines. All are made possible by the innovation of manufacturers. Technology is transforming the manufacturing industry, and the manufacturing industry is transforming our world.
Manufacturers in the United States perform more than three-quarters of all private-sector research and development (R&D) in the nation, driving more innovation than any other sector, changing our society and helping Americans live better lives. But our continued progress is not guaranteed. We need our leaders to embrace policies that encourage innovation—not stand in its way—because a country that can’t invent can’t lead.
- Enable a regulatory and legislative climate that creates the conditions for discovering the next great life-changing inventions.
- Secure those inventions by protecting the intellectual property rights of manufacturers.
- Partner with the industry in the area of cybersecurity but not through the creation of a new and unnecessary regulatory regime.
- Encourage the growth of connected technology when they consider updating our telecommunications laws.
The technologies embraced by manufacturers in the 21st century are improving business models, transforming customer relationships and re-inventing the world. Policymakers in Washington now must decide whether they will accelerate, or stand in the way, of a new economy that innovates and works better for everyone.
This blog is part of the NAM’s “12 Days of Transition” series, an effort to provide the presidential transition team and other Washington policymakers with a roadmap to bolster manufacturing in the United States. Read the other blogs in the series here.
Manufacturing and jobs were central issues in the presidential election, but what many Americans don’t realize is that manufacturers are looking for skilled workers right now. What’s more, we are expected to have many more job openings over the next decade. As many as 2 million jobs could go unfilled if we don’t start equipping people with the high-tech skills that manufacturing demands.
America is failing our youth if we do not equip them with the skills required for innovative manufacturing. Manufacturing careers pay about $15,000 more than the rest of the private sector, and manufacturing can provide job security and upward mobility like no other industry.
This is good news for working families at a time when some have lost faith in the American dream and are questioning our very system of free enterprise. But we should not give up; we should not lose hope. Strategic investment in education and training will carry us toward our goal.
It’s going to take all of us to forge the path forward, and many manufacturing companies are rising to the challenge. Check out this video, the third episode of FutureWork, featuring Dennis Parker, the founder of Toyota’s Advanced Manufacturing Technician Program, as he visits shop floors and explains the importance of, and opportunities available in, manufacturing careers.
For manufacturers and all innovators in the United States, the protection of intellectual property (IP), including trade secrets, helps drive not only success but also a continuous cycle of innovation. As such, the United States has historically upheld a very strong record of protecting IP through both federal and state laws. After all, if the government can’t ensure sufficient protections, all incentive is lost in spending billions of dollars on research and development (R&D) only to have the resulting product stolen or devalued. Read More
Manufacturers are disruptors. We disrupt products and processes. We disrupt markets. We disrupt our own enterprises based on the needs of our customers. We disrupt because that’s what it takes to compete. We disrupt because it drives growth in our businesses and our ability to create jobs.
Disruption is not a new concept for manufacturers or any other industry that strives to outperform its competition. Disruption is a concept we embrace. We don’t do it to have onlookers say you’re crazy. We do it because our industry knows that if we are not driving the disruption, it will drive us out of business.
Technology is the latest disruptor inside the manufacturing sector. This is no secret. Technology has been driving change in our industry for decades. However, the National Association of Manufacturers (NAM) wanted to better understand just how much technology was disrupting our members. We wanted to know what it means for their business and, if it changes, how they think about you, their customers. So, we asked them and wanted to share with you what we found.
The results from our recent survey of NAM members says that manufacturers are investing in disruptive technologies for many reasons. It is improving shop floor efficiency, speeding up time to market, creating new revenue streams and driving future business.
We also found out a few barriers to investing in disruptive technologies—two of which include a mismatch of skills and the overreach of government regulation.
Additive manufacturing, artificial intelligence, the cloud, big data, drones, robotics and the Internet of Things are just some of the disruptive technologies being leveraged by the manufacturing sector. The NAM is focused on educating lawmakers in Washington so they understand how it’s so easy to create an environment that fosters the growth of disruptive technologies in manufacturing rather than creating an “anything goes” policy environment.
A highly flawed report that employs the mantle of global health to take aim at innovation and manufacturing was released today by a U.N. panel, representing a real missed opportunity to focus the world on collaborative and effective solutions that could make a substantial difference for real people facing access barriers. Read More
Yesterday, Colombia took another disturbing step that again calls into question its commitment to innovation, manufacturing and the type of investment climate that is vital to grow its economy. Despite its own price controls and existing robust competition in its market, Colombia indicated it would be issuing a Declaration of Public Interest (DPI) to lower again the price of Glivec, an innovative pharmaceutical product. There was no need for this action given that the product is already available at a significantly reduced price, and there are already non-infringing generic versions available in the Colombian market. Read More
Digital technology is changing the landscape of how the world makes things. More and more often, terms like “advanced manufacturing” and “smart” work are being used to describe the latest era in our sector. But what does “advanced manufacturing” mean? What affect is it having on the supply chain? On jobs? On our laws? Greg Scheu, executive committee member of ABB Group and president of ABB Americas Region, joined lawmakers, administration officials and technology experts in Washington, D.C., this week to discuss those questions.
The goal of advanced manufacturing, according to Scheu, is using technology to provide a competitive advantage—helping grow their business, service their customers and compete globally. Connected products and processes—or the Internet of Things—are helping manufacturers become more efficient in their processes and develop a broader, more customizable array of products to offer. Read More