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With the end to the COVID-19 pandemic nowhere in sight, all eyes are on the Federal Reserve as officials meet today.

The Fed is expected to stick with its low interest rates, to Yahoo! News. This week’s meeting could give us a clue about how long rates are likely to remain where they are and what the Fed’s approach will be as infections increase around the country.

Here’s something we do know: the Fed is extending its emergency lending programs until the end of the year. According to , a series of initiatives that were set to expire on Sept. 30 will now run until at least Dec. 31. Those programs include:

• Facilities for primary dealers and money markets;
• Corporate bond purchases on the primary and second markets;
• The ;
• The ; and
• The .

Some good news: reports that June’s new orders for U.S.-made capital goods saw their biggest increase in nearly two years. Non-defense capital goods gained 3.3%—the biggest increase since July 2018. The rise was likely driven by renewed demand as businesses began to open after months of closures.

But it’s not all good news. While the U.S. manufacturing sector has been showing strength, the surge of COVID-19 cases across the country threatens to wipe out gains as businesses nationwide are forced to close or pause reopenings. That threat to the industry—and to the reopening—continues to spur the 51�Թ���’s PSA campaign. Take a look at the making the simple but powerful point: .

Scrubbing CO2 out of natural gas power plant emissions just got easier, due to a breakthrough from scientists at the University of California, Berkeley, Lawrence Berkeley National Laboratory and ExxonMobil.

The bottom line: The new technology is six times more effective at removing CO2 than current technologies . . . hitting an impressive 90% capture rate, according to a in Gas World.

How it works: “The new technique uses a highly porous material called a metal-organic framework (MOF), modified with nitrogen-containing amine molecules to capture the CO2 and low temperature steam to flush out the CO2 for other uses or to sequester it underground.”

But remember, it takes federal policies to support this kind of wholesale carbon capture. And speaking of which . . .

Sneak peek: The 51�Թ��� is working on a raft of climate recommendations, which it will release later this year. Here’s a preview of what the report will recommend on carbon capture. Lawmakers should:

• “Finish clarifying the rules governing access to the Section 45Q carbon capture tax credit so that project developers have the certainty they need to make investments in CCUS projects”;
• “Develop a clear standard for the handling of long-term liability for CO2 transfers”;
• “Resolve pore space ownership issues”;
• “Correct barriers to CO2 storage on federal lands”;
• “Reform the class VI underground injection program to foster the build-out of underground CO2 storage projects”;
• “Increase funding for federal CCUS research, development and demonstration programs”; and
• “Ensure programs are authorized and reduce permitting barriers that delay construction of CCUS projects.”

Here’s some good news: Moderna’s final-stage COVID-19 vaccine test began on Monday, according to (subscription). The company’s researchers intend to conduct a nationwide, 30,000-person trial of its experimental vaccine, with the goal of testing whether two doses of the product can safely protect against COVID-19.

The timeline: Moderna is hoping that, with positive results, a vaccine could be available as early as this fall.

And more good news: Pfizer and German biotech BioNTech their 30,000-person trials, which will extend around the globe. Their timeline? To get the vaccine into regulatory review by the fall.

So once a vaccine is ready, what happens next? A whole bunch of logistical challenges is what. details some of the complications involved:

• A vaccine probably won’t offer complete protection, though it will prevent severe cases.
• Production will be a challenge, with manufacturers seeking to make hundreds of millions of doses in record time and jockeying for supplies like glass vials.
• Distribution will face major hurdles as federal and state governments are forced to coordinate vaccine delivery.
• One in five Americans say they will refuse to get a vaccine even if it’s available, while nearly a third say they haven’t decided.

And one last PSA: gives us a heads-up that these vaccines may create some physical discomfort. That may actually be good news—the reaction could be a sign of your immune system going to work—but it’s probably best not to expect an entirely pleasant experience from a potentially lifesaving vaccine.

As always, your best bet for now is to follow CDC guidelines, wash your hands, maintain social distancing and wear a face covering.

The next round of stimulus is in the works, with Senate Republicans releasing their proposal and Democrats meeting with White House officials yesterday, The Washington Post (subscription). Some highlights of the new proposal:

• Five-year COVID-19-related liability protections for businesses, health care providers and schools.
• $100 billion or more for the Paycheck Protection Program, which benefits small businesses.
• Another round of $1,200 checks for Americans and financial support for schools.
• A reduction in emergency employment benefits from $600 to $200 per week, until states can set up their own unemployment programs to pay 70% of income. (A reminder: the current benefits run out very soon.)

The 51�Թ��� says: 51�Թ��� Vice President of Government Relations Jordan Stoick points out some of the advantages of the plan for manufacturers:

• “Manufacturers were glad to see many of the priorities from our ‘American Renewal Action Plan’ included in this proposal, including targeted liability protections for manufacturers and other essential frontline businesses that have operated during the COVID-19 pandemic, and increased funding for the Paycheck Protection Program, which has provided critical liquidity for manufacturers.”
• “The proposal also includes more funding for testing as well as tax incentives for manufacturers that keep their employees on payroll during the COVID-19 pandemic and to help manufacturers invest in PPE and other safety measures to keep their facilities clean and their employees and customers safe.”
• “The 51�Թ��� will remain fully engaged in the days ahead with members of the House and Senate to urge them to come together in a bipartisan way to finalize a plan that includes these important provisions.”

When the COVID-19 pandemic struck the United States, Kent Corporation—an Iowa-based food and beverage manufacturer—was ready. In fact, the company had been ready for 11 years.

Back in 2009, Kent Corporation implemented a pandemic response protocol. Prepared by the company’s own human resources group, it was designed to help the company find solutions to novel problems, implement procedures and distribute information internally within the company.

A fast start: According to Chairman and CEO Gage Kent, having that method on the shelf helped the company spring into action. It quickly formed a 100-person pandemic response team and came up with protocols to keep employees safe and the business running. The company also made use of the 51�Թ���’s information resources, which it said were “key” throughout the pandemic.

Its protocols have included:

• Reconfiguring workspaces to allow more space between employees;
• Adjusting traffic flow through the company’s facilities and buildings to improve social distancing;
• Platooning employees by bringing them in and out of the facilities in segmented groups, to prevent or track potential infections and mitigate the impact of any outbreak;
• Using IT platforms that allow anyone who can work from home to do so;
• Conducting temperature screenings, which include checks at the gate for everyone who comes in;
• Promoting “Safety at Home” standards, which encourage employees to take precautions in their own homes just as they do at work; and
• Constantly communicating to keep employees informed during the pandemic.

Helping the response effort: In addition to its essential work in the food and beverage industry, Kent Corporation also makes high-quality alcohol that can be used for pharmaceuticals and COVID-19 sanitation purposes—including in hand sanitizer, wipes and other surface cleaners.

Recognized for excellence: In May, Kent Corporation was named as a 2020 U.S. Best Managed Company—an award by Deloitte Private and The Wall Street Journal that recognizes private-company success based on strategy, execution, culture and financials.

The last word: “We have a culture of trying to live our core values: honesty, safety, quality and timeliness,” said Gage Kent. “We want all our stakeholders to be happy with the way we operate—our shareholders, our customers, our employees and our community. We want to be able to achieve that today, just as we have worked to achieve it on a daily basis for 93 years.”

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.

Wearing a face covering in public spaces isn’t just about protecting other people—it’s also about protecting America’s reopening, jobs and manufacturing industry.

That’s the message of the 51�Թ���’s recent series of public service videos calling for the widespread use of face coverings in public—something manufacturers have been encouraging for months.

What else is spreading besides ? Viral social posts about facial coverings that aren't grounded in facts.

— The 51�Թ��� (@ShopFloor51�Թ���)

On social media, the videos have reached more than 1.4 million people and have been amplified by high-profile figures, including the U.S. surgeon general, U.S. senators and members of the media.

51�Թ��� leads the way: 51�Թ��� President and CEO Jay Timmons was among the first in the business community to call for social distancing and promote the use of face coverings as essential to reopening the U.S. economy.

• “The one thing that we know right now that you shouldn’t be doing is you shouldn’t be coming in contact with other human beings, outside of your immediate family, your nuclear family. That’s it. That’s all the people are asking,” Timmons in April.
• “It’s really that simple. If you want to be a patriotic American, put on a face covering,” Timmons in May, putting on a face covering himself.

Wearing a face covering is a simple and effective way to combat the spread of . Manufacturers are on the front lines of this crisis, but we all have a part to play in protecting our communities. Thanks for continuing to highlight the importance of masks.

— Jay Timmons (@JayTimmons51�Թ���)

To slow the spread of , we all need to be wearing a face covering in public.

— Jay Timmons (@JayTimmons51�Թ���)

We all must follow the guidance of Jerome Adams and wear face coverings in public. That is why launched a series of ads highlighting the importance of this simple and effective health precaution.

— Jay Timmons (@JayTimmons51�Թ���)

Innovation amid crisis: “Our members are innovating at a rapid pace to meet the needs posed by the pandemic, and our team is responding in kind by addressing one of the most critical challenges we face in keeping our workers safe and the industry and country open,” said Erin Streeter, senior vice president of communications and brand strategy at the 51�Թ���. “We’re doubling down on creativity to see us through this crisis, so you’re seeing new tactics like deploying social media influencers to help, illustrations and designs to break through and a total guerrilla-style campaign that leverages all of our communications assets—51�Թ��� leadership, owned media, earned media and social media—to get the job done.”

#MasksEqualMoney: This week, the 51�Թ��� unveiled a series of illustrations on Instagram that show how essential masks are to keeping the American economy open and protecting frontline workers.

A post shared by (@shopfloornam) on Jul 22, 2020 at 5:18am PDT

TikTok stars join in: To reach young people, social media stars Granny Coy Bundy and Grandpa Charles Mallet lent their platforms to the 51�Թ���.

A post shared by (@shopfloornam) on Jul 10, 2020 at 6:25am PDT

Wearing a face covering in public isn’t about you. It’s about people we care about like .

— The 51�Թ��� (@ShopFloor51�Թ���)

Ripple effect: “We didn’t just dip our toes into this challenge; we dove in given the urgency of the public health and economic crisis,” said Streeter. “We’ve relied on the strength of our creativity to press this forward—and we’re seeing our member companies, partner associations and other business and public health entities helping to amplify our messages. We’re also seeing others follow our lead to collectively create a force multiplier effect that is making a difference.”

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.”