February 9, 2012

US JOBS GAP BETWEEN YOUNG AND OLD IS WIDEST EVER Today in Manufacturing

An analysis by the Pew Research Center shows that America's youth are less likely to be employed than at any time since World War II ...   continue

CHINA'S WTO VIOLATIONS THREATEN U.S. JOBS RECOVERY Today in Manufacturing

Reports conclude that China's trade violations have contributed to the loss of more than 400,000 jobs in U.S. auto supply chain...   continue

MANUFACTURING, METALS DEALS DROVE 2011 M&A ACTIVITY
Today in Manufacturing

The industrial manufacturing sector saw the largest increase in activity with deals worth more than $50M totaling 161 deals in 2011...  continue

THIS WEEK IN WASHINGTON: IT’S TIME FOR CONGRESS TO GET TO WORK

NAM Capital Briefing

Both the House and the Senate are in session this week and next week before they take a break for the Presidents' Day recess. This presents an opportunity for the two bodies to come together and move forward on legislation that our country is depending on. There is much to be done, and manufacturers must urge Congress to take action. There are four places policymakers can start: First, as lawmakers discuss how to address the payroll tax cut extension, they also have a valuable opportunity to ensure the legislation includes language to address the Environmental Protection Agency’s (EPA) harmful Boiler MACT regulations. To send a letter directly to your member of Congress and urge the inclusion of this important regulatory relief in the payroll tax extension, click here. Second, a number of temporary tax provisions important to manufacturers expired at the end of 2011, including the R&D tax credit, the controlled foreign corporation look through rules and deferral for active financing. The on-again, off-again nature of these provisions injects even more uncertainty into business planning and slows down needed economic growth. Congress should act quickly to renew these tax provisions retroactive to January 1 and, at a minimum, through the end of 2012. Third, Congress continues to debate a new transportation and energy bill. A comprehensive infrastructure bill is long overdue, but it must be long-term and must provide the certainty job creators need to hire and pursue projects. Improving our highways, bridges and tunnels and relieving congestion on the roadways will get Americans back to work immediately and maintain our competitiveness. The NAM also is pleased that the House legislation includes expanded domestic energy production. Access to affordable sources of energy is extremely important given that manufacturers use one-third of our nation’s energy supply. Fourth, as a key component of an expanded domestic energy strategy, Congress must advance the Keystone XL pipeline. President Obama dealt a major blow to manufacturers, job creation and energy security last month when he formally rejected the construction of the pipeline. Click here to take action today. Tell President Obama that manufacturers are disappointed in his rejection of a shovel-ready project that would create 20,000 immediate construction and manufacturing jobs. In moving forward with the pipeline, our nation would develop its domestic energy supply, become energy independent and put tens of thousands of Americans back to work. It’s time for Congress to act. Gridlock and party negotiations have left Americans waiting for long-term solutions and policies that encourage growth and investment. Please reach out to your local representatives and senators and tell them what policies will help you and your company create jobs and expand.

Hot Topic: Support for Boiler MACT Relief Grows

This week, 380 companies and associations sent a letter to all members of the House and Senate urging them to support the inclusion of the EPA Regulatory Relief Act of 2011 in the payroll tax extension package. The legislation (H.R. 2250/S. 1392) addresses the Environmental Protection Agency’s (EPA) harmful Boiler MACT regulations. It would stay all four Boiler MACT rules, give the EPA an additional 15 months to re-propose the rules, require the agency to develop achievable standards and extend the compliance time frame for existing boilers from three to five years. The legislation passed the House by a strong bipartisan vote in October 2011, and the Senate companion bill currently has 41 co-sponsors, 12 of which are Democrats. We need your help to get Boiler MACT legislation across the finish line. Contact your member of Congress in support of this important bill. 

House Subcommittee Examines EPA’s Costly Utility MACT Rule. On Wednesday, February 8, the House Energy and Commerce Committee’s Subcommittee on Energy and Power held a hearing on the impact of the Environmental Protection Agency’s (EPA) Utility MACT regulation on electricity costs. The regulation, finalized in December 2011, requires the installation of emission-control technologies by many coal-fired power plants over a relatively short time frame of three years. The EPA estimates that the rule will have an annual cost of $9.6 billion, making it one of the most costly rules in the history of the agency. Manufacturers use one-third of the energy consumed in this country and are extremely concerned that the regulation will increase electricity rates and cause grid reliability issues. Click here for the witness list and testimony.

Congressional Push for Keystone Continues. On Tuesday, February 7, the House Energy and Commerce Committee passed the North American Energy Access Act (H.R. 3548) by a 33-20 margin. Supporters included three Democrats, Reps. Matheson (D-UT), Barrow (D-GA) and Ross (D-AR). H.R. 3548 gives the Federal Energy Regulatory Commission (FERC) authority to approve the Keystone XL pipeline permit and directs the FERC to make the decision within 30 days. The passage of the legislation out of Committee signifies continued congressional support for the pipeline, in spite of opposition from the Administration. There is a possibility H.R. 3548 will be taken up next week by the full House as part of a long-term transportation bill. The NAM continues to advocate for speedy approval of the pipeline to boost economic growth and allow the U.S. greater access to affordable energy. Contact the President and let him know you are disappointed with his decision to reject the permit.

Bonus Depreciation Letter Urges Temporary Extension. The NAM signed onto a letter sent Thursday, February 2, from associations to the conferees of the payroll tax cut extension bill (H.R. 3630). The letter urges members of Congress to extend 100 percent bonus depreciation through 2012, which was included in the House-passed version of H.R. 3630. Currently, 50 percent bonus depreciation is in effect for 2012. Conferees continue to meet in an attempt to reach a conference agreement with the hope of completing action on a compromise bill by the end of the month.

REGULATIONS NOT THE TOP CONCERN FOR SMALL BUSINESS OWNERS

Quick Manufacturing News A new poll reveals that most small business owners do not list regulations as a top concern or barrier to their businesses; in fact, many respondents view regulations as a way to level the playing field with larger companies. Click to continue

EMPLOYERS' TAKE ON RETIREMENT PLAN FEE DISCLOSURES AND OTHER KEY ISSUES Quick Manufacturing News

The vast majority (79%) of retirement plan sponsors say that it is quite or very important to help participants understand plan fees and 71% consider the fee disclosure process itself to be very or quite important. Click to continue

UNEMPLOYMENT AID APPLICATIONS NEAR A 4-YEAR LOW
Today in Manufacturing

The Labor Department said applications for unemployment benefits fell 15,000 to a seasonally adjusted 358,000, the second-lowest level since April 2008 ...  continue