AMT – The Association For Manufacturing Technology recognized the Obama administration’s “Manufacturing Framework For Revitalizing American Manufacturing” as an important step in revitalizing the country’s beleaguered manufacturing sector.
In fact, the organization says the administration’s plan mirrors its own proposals to Congress last fall in many areas, including a strong commitment to research and development; expanding the advanced energy manufacturing tax credit; reforming export control policy; and adding to the ranks of the manufacturing workforce. AMT also supports extending the 50-percent bonus depreciation and enhanced Sec. 179 expensing business tax incentives that were included in the American Recovery and Reinvestment Act passed early last year.
However, AMT President Douglas K. Woods says the goal of a strong, competitive manufacturing sector cannot be achieved through government action alone. Rather, it requires an effective collaboration between government, academia and industry. He adds that more needs to be done to lessen the structural cost burdens on manufacturing.
“The administration is focused on energy. That’s great, but we would like to see a broader approach to revitalize manufacturing,” Mr. Woods says. “Now is the time for the administration and Congress to also address the tax, legal and regulatory impediments to our competitiveness.”