New Directions in Manufacturing Report of a Workshop (2004) / Chapter Skim
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5 U.S. Manufacturing at the Crossroads
5 U.S. Manufacturing at the Crossroads
Pages 28-33
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From page 28... ...
CURRENT ECONOMIC OUTLOOK During the manufacturing downturn that began in June 2000 and ended in December 2001, 1.4 million manufacturing jobs were lost. This 8 percent decline in the manufacturing employment rolls matches the average decline during the past six recessions.
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From page 29... ...
First, the attacks of September 11, 2001, and the entry of the United States into a war on terrorism have created an elevated degree of uncertainty overall. Second, the emergence of several major financial scandals in 2002 undercut consumer confidence and sent the Dow Jones Industrial Average plummeting 32 percent between March and October 2002.
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From page 30... ...
This plan offers a creative mix of incentives that will encourage aggressive investment in the stock market and new capital investment by business, which will, in turn, create more jobs. Specifically, the proposal to eliminate double taxation of dividends will boost business and consumer confidence, reduce the cost of investment capital, and encourage business to invest more in new plants and equipment.
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From page 31... ...
manufacturers to raise prices for their products, thereby fatally compromising their ability to meet rising costs associated with government regulations, runaway litigation, and employee health insurance; and Accelerating technological change that could make it increasingly difficult to achieve high productivity growth because of inadequate capital investment and workforce skill deficiencies. NAM recommends the policy agenda described below in 2003 to address the factors listed above, strengthen the economy, and encourage growth.
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From page 32... ...
NAM supports President Bush's climate research and voluntary greenhouse gas reduction initiatives but opposes mandatory greenhouse gas reporting. NAM vigorously opposes the Kyoto Protocol and any
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From page 33... ...
When environmental regulation is necessary, rules must be based on sound science and accurate data and must allow maximum flexibility to meet performance standards using the most costeffective means. Specific priorities for the manufacturing community include New Source Review reform, sensible multi-emissions legislation, and science-based air quality standards.
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