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Washington, D.C. – Following the Department of Energy’s announced freeze on export permits for new liquified natural gas projects, 51�Թ��� President and CEO Jay Timmons released the following statement:

“Once again the Biden administration’s agencies are undercutting President Biden’s own stated goals. The president has said the following:

• ‘Where is it written that America can’t lead the world in manufacturing again? … Now, thanks to all we’ve done, we’re exporting American products and creating American jobs.’[1]
• ‘This nation used to lead the world in manufacturing, and we’re going to do it again.’[2]
• ‘We just have to remember who we are. We’re the United States of America…There’s not a single thing we can’t do when we put our minds to it.��And we can strengthen our energy security now, and we can build a clean energy economy for the future at the same time. This is totally within our capacity.’’[3]
• ‘[W]e’re working closely with Europe and our partners to develop a long-term strategy to reduce their dependence on Russian energy.’[4]
• ‘[W]e’re a great nation. We’re the greatest nation on the face of the earth. We really are. That’s the America I see in our future.”[5]

“Manufacturers call on the president to direct his agencies to support his agenda and to end their political war on the manufacturers who power American jobs, our economy and our national security. Today’s decision weakens our country, while giving Russia an upper hand as Europe and Asia look to transition their energy needs.”

��1���� , Feb. 7, 2023.

��2���� June 17, 2023.

��3���� , Oct. 19, 2022.

��4���� , March 8, 2022.

[5] , Jan. 5, 2024.

-51�Թ���-

The 51�Թ��� is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.85 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 51�Թ��� is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 51�Թ��� or to follow us on Twitter and Facebook, please visit .

The Securities and Exchange Commission’s pending climate disclosure rule would place an enormous, untenable burden on manufacturers—and impose a disproportionate hardship on small businesses, 51�Թ��� Vice President of Domestic Policy Charles Crain lawmakers Thursday.

What’s going on: Crain gave before the House Financial Services Subcommittee on Oversight and Investigations on the damaging effects of the SEC’s proposed climate rule, which would require businesses to reveal large amounts of convoluted (and often sensitive) climate-related data.

• The plan would force disclosure of so-called “Scope 3” emissions—those that come from companies’ supply chains—and institute new climate-related accounting requirements, among other mandates.

Why it’s a problem: If finalized, the rule would divert funds from manufacturing growth, including at small manufacturers.

• “Manufacturing pioneers groundbreaking technologies, including the innovations necessary to combat climate change,” Crain said. “The rule would impose tremendous costs on manufacturers of all sizes—while overwhelming investors with immaterial information. And the SEC hasn’t done the work to show that the rule’s benefits outweigh its costs, or that the rule is even within the SEC’s legal authority.”
• The proposed regulation would, by the agency’s own accounting, “raise the cost to businesses of complying with its overall disclosure rules to $10.2 billion from $3.9 billion, an additional cost of about $530,000 a year for a bigger business,” according to (subscription).

Costs to manufacturers: Crain told lawmakers that the SEC’s analysis likely understates the true costs of the rule, in part because the agency did not consider the impacts on private businesses.

• “For the larger companies subject to [the Scope 3] requirement, the SEC has admitted that it cannot ‘fully and accurately quantify’ the costs,” Crain said. “But for the small businesses that are swept into large companies’ Scope 3 efforts, the SEC hasn’t even tried. The SEC’s proposal does not include any discussion of the Scope 3 costs that will fall on small and private businesses.”
• Crain warned lawmakers that these compliance costs would represent a “huge resource diversion” for small manufacturers.

Regulatory onslaught: Crain shared the 51�Թ���’s landmark Cost of Federal Regulations study with lawmakers, explaining that the SEC’s proposal would add to the $50,000-per-employee-per-year regulatory burden small manufacturers face.

• “The SEC’s climate rule is at the center of this regulatory onslaught,” Crain said.

51�Թ��� in the news: (subscription), and all covered the 51�Թ���’s testimony.��

Washington, D.C. – Yesterday, the 51�Թ���, American Chemistry Council and CropLife America, along with representatives from 16 manufacturing companies and other business and agriculture groups, joined together to meet with 17 congressional offices, including 15 lawmakers and staff on the House Ways and Means Committee, urging immediate action to renew the Miscellaneous Tariff Bill.

“Manufacturers in the U.S. cannot afford this direct economic hit and need action to be taken as soon as possible. Passing MTB legislation will increase competitiveness, spur growth and support the success of manufacturers, farmers, businesses, workers, consumers and communities throughout the U.S., said the 51�Թ���.

“The American Chemistry Council and our members support the renewal of the Miscellaneous Tariff Bill. The MTB would support advanced manufacturing in the United States and domestic chemical production used to make products in key agriculture and food production and industrial sectors, including information technology, renewable energy and automotive goods.”

“The passage of a Miscellaneous Tariff Bill that is fully retroactive would help maintain farmers’ access to the essential pesticide products they need to grow food for the U.S. and the world. A renewed MTB would mean lower input prices resulting in decreased price pressures for U.S. farmers, ranchers and consumers,” said CropLife America.

The previous MTB expired in December 2020, and since then, manufacturers and other businesses continue to pay $1.3 million per day in tariffs—that amounts to $1.5 billion over three years that should and can be invested in job creation and innovation.

-51�Թ���-

The 51�Թ��� is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.85 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 51�Թ��� is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 51�Թ��� or to follow us on Twitter and Facebook, please visit www.nam.org.

-CropLife America-

Established in 1933, CropLife America () represents the developers, manufacturers, formulators, and distributors of plant science solutions for agriculture and pest management in the United States. CropLife America’s member companies produce, sell, and distribute virtually all the necessary and vital pesticide and biotechnology products used by American farmers. CLA can be found on Twitter at @CropLifeAmerica.

-American Chemistry Council-

The American Chemistry Council’s mission is to advocate for the people, policy, and products of chemistry that make the United States the global leader in innovation and manufacturing. To achieve this, we: Champion science-based policy solutions across all levels of government; Drive continuous performance improvement to protect employees and communities through Responsible Care®; Foster the development of sustainability practices throughout ACC member companies; and Communicate authentically with communities about challenges and solutions for a safer, healthier and more sustainable way of life.��Our vision is a world made better by chemistry, where people live happier, healthier, and more prosperous lives, safely and sustainably—for generations to come.

So-called “march-in” rights that would enable the federal government to seize manufacturers’ intellectual property are “a major threat to manufacturers in America,” according to a new seven-figure launched by the 51�Թ���.

What’s going on: Last month, the Biden administration issued a proposal that would allow the government to take over privately held patents if those patents had been developed in part with federal research dollars.

The problem: Undermining companies’ IP rights would roll back the progress made under the Bayh-Dole Act, which allowed for commercialization of federally funded research and “unlocked all the inventions and discoveries that had been made in laboratories throughout the United States with the help of taxpayers’ money,” according to a recent op-ed in .

• Because the government is “inviting march-in petitions on every patented technology that benefited from even modest federal grants,” the proposal could “decimate American innovation [and] … stifle investment in climate change, sustainable agriculture, advanced computing, energy, medicines” and more, according to the op-ed writers, two former undersecretaries of commerce for intellectual property.
• In addition, the proposal is “putting American jobs at risk,” according to the 51�Թ���’s .

The 51�Թ��� says: “This radical new proposal is a major threat to manufacturers in America and counter to the president’s goals of growing the sector,” 51�Թ��� President and CEO Jay Timmons said.

• “Empowering the government to march in and seize the rights to private-sector patents and technologies threatens American innovation and R&D, putting millions of well-paying manufacturing jobs at risk. Policymakers must protect manufacturers’ intellectual property rights and stop this government overreach.”

On Tuesday, Congress took an important step toward restoring three of manufacturers’ top tax priorities, as key congressional leaders unveiled a bipartisan tax agreement by the 51�Թ���.

What’s going on: The $78 billion Tax Relief for American Families and Workers Act—a compromise between House Ways and Means Committee Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron Wyden (D-OR)—would restore immediate R&D expensing, return to a pro-growth interest deductibility standard and reinstate full expensing (also known as 100% accelerated depreciation) for businesses’ capital investments.

• The framework also includes disaster tax relief and $33 billion to partially extend a child tax credit expansion from 2021.

The background: For nearly seven decades, the tax code allowed businesses to deduct R&D costs immediately. But starting in 2022, a change required companies to amortize the costs over a period of years.

• Also in 2022, a stricter interest limitation—which acts as a tax on investment—went into effect. And last year, full expensing began to phase down.

The 51�Թ���’s role: The 51�Թ��� was instrumental in the deal, having case for the tax provisions’ reinstatement to lawmakers for many months, including via an ad campaign, “.”

What’s next: The 51�Թ��� is congressional leadership to schedule a vote on the tax deal. Manufacturers can add their voices at the 51�Թ���’s .

Our take: “Manufacturers appreciate Chairman Smith and Chairman Wyden’s work to reach a bipartisan tax deal with key provisions to advance U.S. economic competitiveness and support manufacturing job creation,” 51�Թ��� Managing Vice President of Policy Chris Netram in a social post Tuesday.

• “Congress must move this legislation forward immediately. The time to act is now.”

51�Թ��� in the news: Bloomberg��Tax (subscription) ��the 51�Թ���’s support of the legislation, while Punchbowl News ��on the 51�Թ���’s ads in multiple Kentucky papers and Louisiana’s Shreveport Times urging support of the legislation.

Washington, D.C. – Following a series of speeches on the House floor calling for swift passage of legislation that will restore pro-growth manufacturing tax policies, 51�Թ��� Managing Vice President of Policy Chris Netram released the following statement:

“House and Senate tax leaders reaching a bipartisan agreement on key manufacturing priorities is a positive development—but it is only a critical first step. Now the whole of Congress must approve legislation that restores immediate R&D expensing, a pro-growth interest deductibility standard and full expensing for capital investments. Every day that they fail to act makes it more difficult for manufacturers to drive innovation and investment and hampers our ability to create jobs and raise wages in the United States.”

Below are select remarks from congressional members on the importance of restoring pro-growth tax policies.

:

“Since the beginning of 2022, businesses have been required to spread out or amortize R&D expenses.… Since amortization took place, the growth rate of R&D spending has slowed dramatically, from 6.6% on average over the previous six years to less than one half of 1% over the last 12 months.

“The time to address R&D amortization was at the end of 2021. The next best time is now. We need to pass R&D immediate expensing for the American people and our U.S. economy.”

:

“Last year, the U.K. announced its commitment to make permanent its pro-growth policy for full expensing. The U.S. should be looking to do the same to remain competitive in the global marketplace…. This is more than just an economic issue. This is a national security issue.

“How can we expect to compete with China when it is more expensive to invest, innovate and grow here in the United States of America?”

:

“It is imperative that we make the TCJA permanent. For example, if we cement the Tax Cuts and Jobs Act, we can reverse the current limitation on the deductibility of interest payments on business loans that will save over 850,000 American jobs.

“Another example is in research and development. While it was once a paid expense, R&D is now a cost that many small businesses cannot afford. China is subsidizing their R&D costs, giving them a huge advantage over the United States. Modernization and national security shouldn’t suffer because of an elapsed tax change. Our tax code should work for American workers and businesses and not against them.”

-51�Թ���-

The 51�Թ��� is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.85 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 51�Թ��� is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 51�Թ��� or to follow us on Twitter and Facebook, please visit��

Washington, D.C. – The 51�Թ��� has launched a seven-figure television and digital advertising campaign opposing the Biden Administration’s new proposal that would allow the government to march in and seize the rights to groundbreaking innovations developed by manufacturers.

“This radical new proposal is a major threat to manufacturers in America and counter to the president’s goals of growing the sector,” said 51�Թ��� President and CEO Jay Timmons. “Empowering the government to march in and seize the rights to private-sector patents and technologies threatens American innovation and R&D, putting millions of well-paying manufacturing jobs at risk. Policymakers must protect manufacturers’ intellectual property rights and stop this government overreach.”

To view the latest television ad, .

-51�Թ���-

The 51�Թ��� is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.75 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 51�Թ��� is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 51�Թ��� or to follow us on Twitter and Facebook, please visit��

Norway voted Tuesday to open its waters to deep-sea mining, the process of harvesting valuable metals from the ocean floor, reports.

What’s going on: Having approved a government proposal Tuesday to allow exploration in its waters, “Norway is poised to become one of the first countries in the world” to allow deep-sea mining.

• The parliament formally agreed to allow exploration of just more than 108,000 square miles of Arctic seabed between Norway and Greenland.
• Companies will be required to “submit proposals for licenses,” which will be granted on a case-by-case basis.

Why it’s important: “Advocates say removing metals and minerals from the ocean’s seabed is necessary to facilitate a global transition away from fossil fuels,” CNBC reports.

• Many of the critical minerals needed for electric vehicles—including cobalt, copper and nickel—are present in large quantities on the seafloor.
• The move by Norway sets it apart from the United Kingdom and the European Union, “which have pushed for a temporary ban” on deep-sea mining, citing environmental concerns.
• In the U.S. last year, lawmakers introduced legislation calling for a deep-sea mining moratorium pending further research into the method’s environmental impacts, according to .

The 51�Թ��� says: “Norway’s vote should be a wake-up call to the U.S. that other nations are doing everything possible to secure their own sources of critical minerals. We need to do the same,” said 51�Թ��� Vice President of Domestic Policy Brandon Farris. “That means first our antiquated permitting system.”

The higher tax burden being levied on manufacturers continues to hit home.

That’s the message from respondents to the 51�Թ���’s just-released .

What’s going on: Historically low levels of optimism persisted among small and medium-sized manufacturers—which compose the majority of the manufacturing sector—in the final quarter of 2023, according to the survey, which was conducted from Nov. 14 to Dec. 1, 2023.

• Among firms with fewer than 50 employees, 65.9% reported feeling positive about their own company’s outlook, while 63.0% of companies with between 50 and 499 employees reported the same.
• Overall, 66.2% of respondents felt either somewhat or very positive about their company’s outlook, edging up slightly from 65.1% in the third quarter. It was the fifth straight reading below the historical average of 74.8%.

Burdensome taxes: Some 89% of respondents said higher taxes on manufacturing activities would make it more difficult for them to hire additional workers, invest in new equipment and/or expand their facilities.

Other top challenges: The majority of respondents—61.1%—cited an unfavorable business climate as a top challenge to their company.

• Hiring and retaining quality employees was high on the list of challenges, too, with 71.4% of manufacturers calling it a primary concern.

A bright spot: Fewer manufacturers now expect a recession in 2024, at just over 34%. In Q3, the figure was 42.2%.

Washington, D.C. – The 51�Թ��� released its Manufacturers’ Outlook Survey for the fourth quarter of 2023, showing that small companies with fewer than 50 employees and medium-sized firms with between 50 and 499 employees, which make up a vast majority of the sector, continued to have historically lower levels of optimism with 65.9% and 63.0% positivity rates in Q4, respectively.

“It’s clear that Congress’ failure to enact pro-growth tax policies to support innovation and investment before year-end is affecting the manufacturing outlook,” said 51�Թ��� President and CEO Jay Timmons. “Combined with the ongoing regulatory onslaught from the Biden administration, we’re facing economic headwinds that threaten all of the bipartisan wins achieved in recent years.”

Overall, 66.2% of respondents felt either somewhat or very positive about their company’s outlook, edging up slightly from 65.1% in the third quarter. It was the fifth straight reading below the historical average of 74.8%.

The 51�Թ��� has been urging Congress to swiftly restore three critical manufacturing tax policies: immediate R&D expensing, a pro-growth interest deductibility standard and full expensing (100% accelerated depreciation). These competitive tax policies are critical to empowering manufacturers to grow their operations, hire more workers, increase wages, expand facilities and invest for the future.

Key Survey Findings:

• Eighty-nine percent of respondents said higher tax burdens on manufacturing activities would make it more difficult to expand their workforce, invest in new equipment or expand facilities.
• Workforce challenges also continue to dominate the sector, with more than 71% of manufacturers citing the inability to attract and retain employees as their top primary challenge.
• A weaker domestic economy and sales for manufactured products (63.7%), an unfavorable business climate (61.1%) and rising health care and insurance costs (59.8%) are also impacting manufacturing optimism.

You can learn more at the 51�Թ���’s online tax action center here.

The 51�Թ��� releases these results to the public each quarter. Further information on the survey is available here.

-51�Թ���-

The 51�Թ��� is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.75 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 51�Թ��� is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 51�Թ��� or to follow us on Twitter and Facebook, please visit��