U.S. manufacturers have had to face many supply chain issues and near record-high inflation. With the midterm elections approaching many of these manufacturers are now asking for politicians to find ways to help with these issues.
On the 13th of September, the National Association of Manufacturers (NAM) publicized its “Competing to Win” agenda, which asks for tax policy reforms, workforce development, and other assistance in order to increase the competitiveness of U.S. manufacturing companies.
NAM CEO Jay Timmons and board members also had a call on Monday to further discuss the call to the action plan.
Chuck Wetherington, President of BTE Technology said that while manufacturers are used to solving problems, they now need additional help from policymakers to remain competitive, especially as there are talks about a potential recession.
In the first two quarters of 2022, the gross domestic product continued to drop as the levels of wholesale inflation grew by 8.7% in the last year according to the data published by the Labor Department.
NAM has also called for leaders to help deal with the labor shortages as this could lead to further “long term” problems according to Wetherington.
Wetherington and Greene Tweed Vice President of Operations Fernando Torres have also said that they are trying to “upskill” existing workers as well as look for new willing employees to join the workforce.
The association has also said that new tax incentives and provisions could be the boost needed for investments to continue and business competitiveness to be increased. They also ask for some of these tax incentives to be directly related to R&D as that will help companies expand further.