White House Announces New Framework for Revitalizing Manufacturing

IndustryWeek - U.S. must have 'innovative, vibrant manufacturing sector that creates and sustains good paying jobs.'

Tuesday, December 22, 2009 - Ahead of a meeting today at the White House, Ron Bloom, President Barack Obama's senior adviser for manufacturing policy, said that the U.S. needs, "legal, tax and regulatory regimes that promote American manufacturing and do not place an undue burden on those who wish to manufacture products in America. "It is vital to have a concerted effort across the administration to support an innovative, vibrant manufacturing sector that creates and sustains good paying jobs."

Detroit Free Press ( Hyde) reports the Obama administration announced a push "for a $5-billion boost to a tax credit for green manufacturing, along with a seven-point plan to slow job losses at U.S. manufacturers." The administration's plans "tout U.S. manufacturing as a source of strength for the economy in areas such as fuel-efficient vehicles and biotechnology." But the plan "faces several tough hurdles to taking effect, including international trade, government spending and relations with China." The administration's plan "suggests a variety of moves to boost manufacturing, from better training for factory workers to opening overseas markets and defending patents and copyrights." Manufacturers "have been divided in the past over ways the government could boost their output, with smaller firms calling for more aggressive action against China. By artificially holding down the value of its currency by up to 40%, China provides a subsidy to its exporters, one that's increasingly under criticism from other nations." Hat Tip: NAM

Here is the President’s policy paper released in conjunction with today’s White House meeting with manufacturers.

A Framework for Revitalizing American Manufacturing