Manufacturing is a hot topic in around the country – as evidenced by some of the Super Bowl ads that aired last night – and Washington is no exception. Republicans on the House Energy and Commerce Subcommittee on Commerce, Manufacturing, and Trade held a jobs and innovation forum entitled, “Making it Easier to Make it in America,” bringing together representatives of American companies, including Intel, with members of Congress to discuss opportunities for strengthening the manufacturing sector.
Jay Timmons, the NAM’s President, was an invited guest and he took the opportunity to share the current state of manufacturing – detailing the challenges facing manufacturers as well as their successes.
Jay weighed in on each of the forum’s wide array of topics, including taxes, trade, and the critical need for Washington to develop a coherent “all-of-the-above” energy policy, saying that, “Energy costs are, outside of labor, the number one cost of running a manufacturing business.”
Bill Holt, General Manager of Intel’s Technology and Manufacturing Group, raised the issue of the extremely high U.S. corporate tax rate – a rate that, as of April 1st, will be the highest of any industrialized country.
“Our tax rate is 29% – higher than all of our foreign competitors. That really puts us at a disadvantage.”
Today’s discussion was a good opportunity to talk with policy makers about what is needed to truly have a Manufacturing Renaissance. As Jay noted, manufacturers need each aspect of the NAM roadmap put into action – the sooner the better.