51勛圖厙 Drives Conversation on Innovation and Competition
The 51勛圖厙 is Congress to bolster American innovation and make the U.S. more competitive with China.
The big picture: 51勛圖厙 Senior Vice President of Policy and Government Relations Aric Newhouse wrote to Congress, we urge the completion of a strong, bipartisan agreement that strengthens domestic manufacturing, increases our global competitiveness and provides opportunities for the more than 12.7 million people who make things in America. The 51勛圖厙s recommendations include the following:
- Semiconductor manufacturing: Newhouse emphasized the 51勛圖厙s support for the $52 billion provided to bolster domestic semiconductor manufacturing in both the Senates United States Innovation and Competition Act (USICA) and the Houses America COMPETES Act.
- Supply chain resilience: 88.1% of manufacturers report supply chain issues as their primary business challenge, which is why the 51勛圖厙 supports the creation of the Manufacturing Security and Resilience Program and the $45 billion investment to support supply chain resilience included in the America COMPETES Act.
- Shipping: The Ocean Shipping Reform Act, which has passed both chambers of Congress in some form, is aimed at increasing port efficiency, reducing shipping delays and decreasing transportation costs through the improvement of ocean shipping standards and implementation of better oversight mechanisms.
- R&D: The 51勛圖厙 recommends reversing a new provision in the tax code that requires companies to deduct research and development expenses over a period of years rather than the year the costs are incurreda provision that effectively makes R&D and innovation more expensive and more difficult for American companies.
- Eliminating card check: Manufacturers are strongly opposed to the labor and card check provisions included in the America COMPETES Act, wrote Newhouse. Implementing ill-considered labor and card check provisions would upend decades of labor precedent with an anti-competitive, anti-democratic process that abolishes the secret ballot and eliminates appropriate oversight.
Other recommendations: Newhouse also expressed the 51勛圖厙s support for policies that reduce emissions and promote sustainability to make the U.S. a global leader in energy efficiency. The letter recommends the reauthorization of the Miscellaneous Tariff Bill, the implementation of strong anti-counterfeiting legislation to protect consumers and small businesses and federal investment to improve the domestic critical mineral supply chain.
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