Posts for March 18, 2010

SPEAK OUT NOW AGAINST COSTLY HEALTH CARE PROPOSALS BEFORE IT IS TOO LATE

March 18, 2010 - UMA
Comprehensive health care reform is reaching its final stage. This may be the last chance to exert your influence to prevent a fundamentally flawed proposal from becoming law. We need to send Congress a strong message. Speak out and tell Congress to vote NO on the current bills and start over on health care reform. To contact your member of Congress, please click here.

HEALTH CARE REFORM VOTE EXPECTED THIS WEEKEND

March 18, 2010 – NAM Capital Briefing

A vote is expected in the House on Sunday on a package designed to make the Senate-passed health care reform bill more to the liking of House Democrats. In coordination with that effort, the Senate-passed bill is being “deemed” passed in the House, without a specific vote. The bill is advancing using complex parliamentary procedures that are being questioned by Republicans and Democrats alike. The outcome of the vote is unclear, and many swing votes are still undecided.

SEN. DODD’S LATEST FINANCIAL SERVICES PROPOSAL RAISES SERIOUS CONCERNS FOR MANUFACTURERS

March 18, 2010 – NAM Capital Briefing

The Restoring American Financial Stability Act of 2010 unveiled March 15 by Senate Banking Committee Chair Chris Dodd (D-CT) raises questions and concerns for U.S. manufacturers. For one, the new proposal does not make it clear that only businesses “predominantly engaged” in financial activities are covered by the overall reform. Even though the thrust of the reform measure is to restore responsibility and accountability in the nation's financial system, broadly-worded definitions in the bill arguably could pull some non-financial companies into the new regulatory regime. Covered companies are defined as those with “substantial” financial activities, and the Federal Reserve Board gets to decide who falls into the definition.

Manufacturers that engage in routine financial activities as a small part of their main business, such as a global manufacturer that manages a foreign exchange trading operation or an equipment manufacturer that provides financing for customers, are concerned that they could be pulled into the systemic risk regulatory regime, drawing needed capital from their businesses and imposing new administrative burdens. While the definition of a “major swap participant” now excludes OTC derivatives used to hedge business risk, it is not clear that business end-users who do not pose risks to the financial system are excluded from the definition.

Manufacturers are also concerned by requirements that they post margin on bilateral, customized derivatives contracts. End-users like manufactures do not pose a threat to financial stability and should be able to continue to access OTC derivatives without tying up valuable working capital.

We expect changes to the derivatives and other provisions during the Committee's markup session, which could happen as early as next week. In particular, Sens. Judd Gregg (R-NH) and Jack Reed (D-RI) are working on a revised derivatives section.

NAM URGES EPA TO SLOW DOWN REGULATORY PROCESS

March 18, 2010 – NAM Capital Briefing
The Environmental Protection Agency (EPA) is preparing to release final rules to impose first-time greenhouse gas (GHG) regulations on cars and trucks through the so-called “tailpipe rule” and industrial sources through the “tailoring rule”. Federal regulators have stated in the past that they will release these rules by March 31, 2010. However, a growing chorus of industry stakeholders and state and federal officials are urging EPA to slow down its process to regulate industrial facilities. You can weigh in with EPA and advocate this message by signing the NAM’s petition at www.nam.org/epa.

HOUSE HOLDS HEARING ON OSHA OVERHAUL LEGISLATION

March 18, 2010 – NAM Capital Briefing

On March 16, the House Education and Labor Committee's Subcommittee on Worker Protections held a hearing on the Protecting America's Workers Act. This legislation seeks to change the way the Occupational Health and Safety Administration (OSHA) enforces workplace safety regulations by expanding criminal penalties under the Occupational Safety and Health Act and increasing OSHA penalties. To view the statement the NAM's Coalition for Workplace Safety submitted, please click here.

CONSUMER PRICES FLAT IN FEBRUARY

March 18, 2010 – Today in Manufacturing.net
Labor Department said consumer prices were flat last month, as the weak economy limits the ability of companies to charge more for goods and services... continue

NAM PRESIDENT TESTIFIES BEFORE HOUSE SUBCOMMITTEE ON HOMESTAR PROGRAM

March 18, 2010 – NAM Capital Briefing

In a written statement following his March 18 testimony before the House Energy and Commerce Subcommittee on Energy and Environment, NAM President John Engler said: “The HomeStar program will help spur much-needed consumer demand for energy-efficient products and building materials by providing significant and instant rebates for home energy-efficiency retrofits. This activity will immediately create jobs in manufacturing, distribution and sales of energy-efficient products. Manufacturers remain committed to producing more energy-efficient consumer products such as insulation, windows, doors, skylights and heating and cooling systems. We will continue to work closely with the Administration and Congress on this important issue.”

REPORT: MID-ATLANTIC MANUFACTURING EXPANDS

March 18, 2010 – Late Wire from Manufacturing.net
Fed Reserve Bank of Philadelphia said manufacturing activity in Mid-Atlantic area expanded in March for seventh month in a row, a sign economic recovery is continuing ... continue