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Business advocates and policymakers have a new tool for waging an aggressive effort against counterfeiting during the pandemic and beyond. The 51�Թ��� has released a new report, “Countering Counterfeits,” which includes proposed solutions for Congress, the administration and the private sector to pursue.

The numbers: According to the 51�Թ���’s research, fake and counterfeit products cost the United States $131 billion and 325,000 jobs in 2019 alone.

The rising tide: The rise of e-commerce has caused an explosion in fake products, particularly from China. E-commerce has created a pipeline to consumers that counterfeiters can exploit while hiding their identities and evading oversight. Estimates now indicate that global trade in counterfeits exceeds $500 billion per year.

The plan: The 51�Թ���’s proposal pushes for a series of actions to help curb counterfeiting, including:

• Requiring e-commerce platforms to reduce the availability of counterfeits;
• Modernizing enforcement laws and tactics to keep pace with counterfeiting technology;
• Streamlining government coordination to tackle counterfeit items;
• Improving private-sector collaboration; and
• Empowering consumers to avoid counterfeit goods.

The 51�Թ��� says: President and CEO Jay Timmons said in his introduction to the report, “The prevalence of counterfeits in the COVID-19 response has brought new urgency to this long-simmering issue. So the 51�Թ��� is leading the charge against fake and counterfeit goods, bringing together diverse stakeholders and driving innovative policy solutions to address these issues once and for all and to ensure the long-term success of our sector and the safety and security of the people who rely on our products.”

The new from the ITI Foundation offers strategies to maintain U.S. strength, spur greater innovation and increase domestic production.

U.S. policies spur success: “America still leads in innovation and drug development, in large part due to effective life-science policies, including significant federal investment in life-sciences basic research, robust intellectual property (IP) protections, effective technology transfer policies, investment incentives, and, importantly, drug pricing policies that enable companies to invest in high-risk drug development.”

Recommendations for policymakers: The paper suggests U.S. policymakers should focus on four key areas:

• Maintaining U.S. strength in pricing, tech transfer and intellectual property—and avoiding oppressive drug price control schemes that damage competitiveness;
• Boosting innovation through investment and additional tax incentives that promote research and development;
• Increasing domestic production, including via tax credits and additional funding for key research institutions; and
• Combating foreign mercantilism by making sure that America’s trading partners pay their “fair share” for new drugs, treatments and other medical products.

Innovation in the time of COVID-19: At a time when U.S. pharmaceutical companies are central to the fight against a global pandemic, the ability to innovate successfully is of paramount importance. The U.S. House Committee on Energy and Commerce held a on Tuesday that discussed the issue, titled “Pathway to a Vaccine: Efforts to Develop a Safe, Effective and Accessible COVID-19 Vaccine.”

The 51�Թ��� says: “The research ecosystem we have in the United States supports a global leadership position of biopharmaceutical innovation,” said 51�Թ��� Vice President of Infrastructure, Innovation and Human Resources Policy Robyn Boerstling. “Manufacturers are committed to building upon that innovation—but it’s clear that government-led pricing restrictions and importing bad health care policies used by our competitors is not the way forward.”

Related . . . The 51�Թ��� has launched a new six-figure television and digital ad campaign aimed at potential rules to address drug pricing through International Price Indexing and drug importation.

The new bill—an 51�Թ��� priority introduced by Rep. Jackie Walorski (R-IN)—would boost the manufacturing industry’s ability to innovate.

The numbers: U.S. manufacturers spent more than $270 billion in R&D in 2018—or nearly two-thirds of all private-sector R&D.

The bill: Rep. Walorski’s bill would further support manufacturers seeking to invest in critical research and development, including:

• Doubling the traditional R&D tax credit from 20% to 40%;
• Doubling the alternative simplified tax credit from 14% to 28%; and
• Making it easier for small businesses to access the R&D tax credit.

An 51�Թ��� priority: The 51�Թ��� has consistently pushed lawmakers to include R&D tax policies as part of additional COVID-19 legislation—including in a to congressional leadership last week. The 51�Թ���’s also calls for enhancing the R&D tax credit.

A word from the 51�Թ���: “The manufacturing industry is the backbone of American research and development,” said 51�Թ��� Senior Director of Tax Policy David Eiselsberg. “This bill would support jobs, boost innovation and help ensure America’s future competitiveness.”

And speaking of 51�Թ��� tax priorities . . . the Treasury Department sealed a major victory for manufacturers this week by finalizing a rule that will provide relief for manufacturers with high-taxed foreign income.

• The problem: 2017’s tax reform created a new foreign minimum tax, which imposed a minimum 13.125% tax on foreign earnings. Due to the way the tax interacted with existing international rules, manufacturers with high-taxed foreign earnings could be subject to the new minimum tax.
• The solution: Treasury adopted key 51�Թ��� recommendations in its final rule, which creates an elective high-tax exception that would spare manufacturers from paying additional U.S. tax if foreign earnings are subject to a foreign tax rate greater than 18.9%. The rule represents an important step toward implementing the foreign minimum tax according to congressional intent.

Washington, D.C. – The 51�Թ��� launched a new six-figure television and digital ad campaign aimed at potential rules to address drug pricing through International Price Indexing and drug importation.

“Our battle with COVID-19 shows just how vital pharmaceutical innovation is to our health and survival, and we cannot afford to limit companies’ ability to develop lifesaving treatments for this or future medical crises,” said 51�Թ��� President and CEO Jay Timmons.

“Regardless of intentions, an international pricing index that ties any portion of our system to a foreign government-run health care system is an abdication of free market principles, and importing drugs from Canada poses a serious health risk, especially considering the counterfeiting challenges we already face. Manufacturers of all sectors are committed to lowering health care costs, but the answer is to pursue market-based solutions that deliver choice and flexibility.”

To view the ad, click .

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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 more than 11.7 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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.

Washington, D.C. – Following the EPA’s emissions standard proposal for airplanes to align U.S. standards with those set by the International Civilian Aviation Organization, 51�Թ���’s Vice President of Energy & Resources Policy Rachel Jones released the following statement:

Manufacturers are committed to smart, strong environmental protections, improving the lives of all Americans. The newest airliners are as fuel efficient as a hybrid electric car, all while making trips of a lifetime possible, and we are on the cutting edge of next-generation technologies. Modern aircraft are 80% more carbon efficient than the first airliners, and a flight today has half the carbon-footprint of the same flight in 1990. That’s why that the 51�Թ��� has been pushing the EPA to set ambitious CO2 standards for the aerospace sector, to strengthen the aviation industry against international competitors, propel our economic renewal and continue leading the world in carbon reductions. We support the EPA’s proposal to set standards in line with international standards that will put the American aerospace sector in a position to continue leading on a global stage.

-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 more than 11.7 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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.

Washington, D.C. – The nation is counting on manufacturers to respond to the COVID-19 pandemic and help spur the recovery and renewal of the U.S. economy. But counterfeiters have tried to take advantage of the situation, and their fake goods and products now pose an even greater threat to the health and safety of all Americans. To fight this growing problem, the 51�Թ��� has released its latest research, “Countering Counterfeits,” which includes proposed solutions for Congress, the administration and the private sector to pursue.

“As Americans battle an unprecedented global health crisis, we are also battling a second threat: fake and counterfeit products that harm consumers and undermine manufacturing in the United States,” said 51�Թ��� Senior Vice President of Policy and Government Relations Aric Newhouse. “COVID-19 has provided new opportunities for counterfeiters to prey on consumers’ anxiety and use the high demand for online goods to boost their illicit profits—all at the expense of American workers, consumers and businesses. The 51�Թ��� is leading the fight against counterfeiters to ensure the strength and stability of our economy and the health of the American people.”

Counterfeiters target a variety of products, from automotive parts and children’s toys to medical devices and pharmaceuticals. The rise of e-commerce has caused an explosion in fake products, particularly from China. E-commerce has created a pipeline to consumers that counterfeiters can exploit while hiding their identities and evading oversight. Estimates now indicate that global trade in counterfeits exceeds $500 billion per year.

The 51�Թ���’s white paper describes a series of specific actions that all stakeholders can take to reverse the rising tide of counterfeit products including the following:

• Requiring E-Commerce Platforms to Reduce the Availability of Counterfeits
• Modernizing Enforcement Laws and Tactics to Keep Pace with Counterfeiting Technology
• Streamlining Government Coordination to Tackle Counterfeits
• Improving Private-Sector Collaboration in the Fight Against Counterfeits
• Empowering Consumers to Avoid Counterfeits

To fight this growing problem, manufacturers must spend more and more money to guard against counterfeiters. This especially hurts small and medium-sized manufacturers. The 51�Թ���’s research estimates that counterfeiting subtracted nearly $131 billion from the U.S. economy in 2019, including $22.3 billion in lost labor income and more than 325,500 fewer American jobs.

-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 more than 11.7 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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

This significant victory on an 51�Թ��� priority protects manufacturing employees and investors, the 51�Թ���’s experts say.

The backstory: Investment advisers and fund managers who oversee Americans’ retirement savings have a voice in the policies of the companies in which the fund invests. These fund managers often turn for assistance to proxy advisory firms to recommend votes on company policies—giving these firms enormous influence.

The problem: Proxy advisory firms have never been subjected to SEC oversight, leading to questionable methodologies, errors, conflicts of interest and a lack of transparency in how they make decisions.

The victory: After years of advocacy by the 51�Թ���, the SEC released landmark standards today that do two critical things:

• Proxy advisory firms will be regulated by the SEC, subjecting these previously unregulated firms to critical oversight and bringing needed transparency to their conflicts and methodologies.
• Asset managers will receive guidelines laying out how they can exercise due diligence appropriately if they use proxy advisory firms to ensure they are protecting the best interests of investors.

The bottom line: “This is a big win for manufacturers and for manufacturing workers who have money in pension plans, retirement plans and other investments,” said 51�Թ��� Director of Tax and Domestic Economic Policy . “For years, the 51�Թ��� has fought for accountability and transparency. This new regulatory framework will protect manufacturing workers and ensure that their investments receive the responsible care they deserve.”

Washington, D.C. – 51�Թ��� President and CEO Jay Timmons released this statement after the Securities and Exchange Commission issued final regulations on proxy advisory firms and supplemental guidance on asset managers’ use of these firms:

“The SEC has listened to manufacturers, and this announcement is a long-sought, major win for the industry and millions of manufacturing workers,” said Timmons. “These changes will protect the retirement savings of manufacturing workers and millions more American families from proxy firms’ errors and conflicts of interests. The SEC’s actions today will reduce proxy firms’ influence on important business decisions and instead empower manufacturers to prioritize investors’ long-term best interests, allowing us to better lead our country’s recovery and renewal at this critical time.”

-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 more than 11.7 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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��� was joined today by several prominent business organizations, including the U.S. Chamber of Commerce, National Retail Federation, TechNet and Intrax, in filing a lawsuit in federal court opposing President Donald Trump’s proclamation suspending new nonimmigrant visas.

“These overreaching, unlawful restrictions don’t just limit visas—they will restrain our economic recovery at a time when the very future of our country hangs in the balance. Manufacturers and program sponsors are going to court because these restrictions are far outside the bounds of the law and would deal a severe blow to our industry. We cannot let this stand,” said 51�Թ��� Senior Vice President and General Counsel Linda Kelly. “Our industry should be laser-focused on leading our recovery and renewal, but these visa restrictions will hand other countries a competitive advantage because they will drive talented individuals away from the United States. These restrictions could harm every corner of our economy, as evidenced by the broad coalition that has come together to oppose them.”

“Our lawsuit seeks to overturn these sweeping and unlawful immigration restrictions that are an unequivocal ‘not welcome’ sign to the engineers, executives, IT experts, doctors, nurses and other critical workers who help drive the American economy,” said U.S. Chamber CEO Thomas J. Donohue. “Left in place, these restrictions will push investment abroad, inhibit economic growth and reduce job creation.”

“Innovation is absolutely key to surviving the economic crisis currently facing our nation, especially for retailers who’ve seen their stores forced to close and scrambled to find new ways to sell and deliver products,” said National Retail Federation Chief Administrative Officer and General Counsel Stephanie Martz. “This proclamation is meant to protect American jobs but instead it threatens the millions of rank-and-file workers whose jobs rely on experts coming up with the latest technology to keep retail moving forward. Advanced computer and IT jobs are already hard to fill, and retailers need to be able to bring in talent from wherever they can find it. This sweeping measure could have a significant negative impact on their ability to do that.”

“TechNet is proud to join the 51�Թ���, U.S. Chamber of Commerce, NRF and Intrax in standing up for American companies’ ability to serve our nation during a global pandemic. TechNet spoke out when the administration announced its visa restrictions, and today, we reiterate that banning categories of innovators only hinders tech’s ability to serve our country by providing essential groceries and food delivery, collaborating with co-workers, having safe medical visits using telehealth solutions and helping millions stay connected. This litigation is a necessary step toward maintaining our nation’s ability to compete in the global economy and provide Americans the help they need during this uncertain time and in the future,” said TechNet President and CEO Linda Moore.

“The Exchange Visitor Program enhances U.S. national security by building mutual understanding that helps us address critical international issues, while strengthening the U.S. economy. J-1 cultural exchange programs contribute more than $1.4 billion to the American economy each year. One out of three World Leaders has participated on a Cultural Exchange Program in the U.S. These overreaching restrictions will sharply curtail cultural exchange programs at just the time when we should be increasing connections between people around the world,” said Intrax President Marcie Schneider.

Read the 51�Թ���’s plan for comprehensive immigration reform, “A Way Forward.” To learn more about the Manufacturers’ Center for Legal Action, click 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 more than 11.7 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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.

Washington, D.C. – Following House passage of S. 4148, to extend the authorization for the Chemical Facility Anti-Terrorism Standards program for three more years, National Association of Manufacturer’s Vice President of Energy & Resources Policy Rachel Jones released the following statement:

“Manufacturers have long  to secure our nation’s essential supply chains and facilities. Responding to and recovering from COVID-19 depends on a supply chain capable of efficiently providing many of the lifesaving products – such as personal protective equipment, medical supplies and pharmaceuticals – these facilities help manufacture.

“The fight against COVID-19 is far from over, but today, manufacturers scored a significant win when Congress passed a three-year reauthorization of the Chemical Facility Anti-Terrorism Standards program. Manufacturers are deeply committed to the communities in which they live and serve, especially during this critical time, so we advocated this reauthorization in our . This security program ensures that manufacturers can remain focused on combating this global pandemic and avoid attacks from other enemies.”

-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 more than 11.7 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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