In April, the Securities and Exchange Commission (SEC) put out a concept release on modernizing certain disclosure requirements in Regulation S-K, basically the guiding document for the disclosures that public companies must file in their periodic reports. The National Association of Manufacturers (NAM) took the opportunity to comment on the release, raising strong concerns with existing disclosures and also recommending against additional disclosures that add to the compliance burden without providing any additional benefits to investors. Read More
The National Association of Manufacturers (NAM) has long believed that a public company’s board of directors is best positioned to responsibly oversee the effective operation and management of a company to maximize performance of the organization and provide long-term value to shareholders. Shareholders also have the means to communicate effectively with management through the current proxy process, annual meetings and other communications to ensure the smooth functioning of the business. However, there is another party that is becoming increasingly involved in the proxy process and companies’ overall corporate governance: proxy advisory firms. Read More
Move over Ira Glass—the NAM’s Tax Team has launched its new Shopfloor Podcast series dedicated to all things tax reform. Extremely high corporate tax rates and out-of-date international rules paired with a challenging global economic climate and charged political year are fueling a tax-heavy conversation the NAM continues to be a part of.
In the initial episode (just in time for Tax Day), NAM Vice President of Tax and Domestic Economic Policy Dorothy Coleman, Senior Director of Tax Policy Carolyn Lee and Chief Economist Chad Moutray set the stage on the current state of play on tax reform, drilling down on why exactly tax reform is so important to manufacturers.
Future episodes will offer guest voices and fresh angles on what needs to be done to reform our tax code and how manufacturers can continue to lead the charge for comprehensive substantive tax reform.
Learn more about the NAM’s tax reform priorities here.
Earlier this year, the NAM was quick to push back against the European Union’s (EU) plan to make public tax and profit reports for global companies operating in EU countries. Not only has the EU ignored our concerns, but it has proposed going one step further and extending the public reports proposal to so-called “tax havens,” which are to be determined by the EU.
Manufacturers believe that a fair and transparent tax climate helps boost living standards and economic growth everywhere. In contrast, requests for much more information than needed to assess a company’s tax liability, coupled with the public disclosure of this tax and financial information, will threaten economic growth and competitiveness on a global basis. Read More
It is abundantly clear to manufacturers in the United States that our current tax code has to go—it’s complicated and arcane, holds back economic growth and makes us less competitive. While we’re working hard to get lawmakers to update and improve our nation’s tax system, Treasury Secretary Jack Lew, with a stroke of a pen, managed to make a bad system significantly worse. Read More
On Tuesday, the NAM partnered with member company PPG, a world leader in coatings, and K&L Gates law firm to discuss the outlook for tax reform and recent developments in the international tax arena surrounding the implementation of the Organisation for Economic Co-operation and Development’s Base Erosion and Profit Shifting (BEPS) project. Attending the forum at the K&L Gates Conference Center in Pittsburgh were members of the area business community and representatives from the Pennsylvania senatorial delegation. Read More
In a statement submitted to the House Ways and Means Committee for today’s hearing on the Global Tax Environment in 2016 and Implications for International Tax Reform, the NAM highlighted concerns about some of the recent tax policy developments in Europe that will have a negative impact on U.S. manufacturers. Read More
At its core, the final budget blueprint released today by the Obama administration represents just another “tax and spend” plan that would increase federal spending while imposing a wide range of tax increases on businesses, making it harder for manufacturers to create jobs and compete in the global economy and do nothing to stimulate much-needed economic growth. Read More
For years, manufacturers sponsoring traditional defined benefit (DB) pension plans have faced higher taxes in the form of premiums paid to the Pension Benefit Guaranty Corporation (PBGC), the agency insuring these plan. While Congress sets these premiums, the Administration has, for several years now, requested to increase these premiums as part of its annual budget proposal. That is, until the fiscal year 2017 budget proposal was released, which states that “the Administration believes additional increases in single-employer premiums are unwise at this time and would unnecessarily create further disincentives to maintaining” DB plans. Read More