National Association of Manufacturers issues new economic recovery plan

Manufacturing

by Talk Business & Politics staff ([email protected]) April 21, 2020 10:49 am 724 views 

The National Association of Manufacturers announced Tuesday (April 21) it has released the American Renewal Action Plan as it looks to strengthen the response to the COVID-19 pandemic and ensure manufacturers can lead the recovery and renewal of the U.S. economy.

“Our industry has been on the front lines throughout this crisis, providing the equipment and products to keep our country safe, healthy and fed,” said Jay Timmons, president of CEO of the National Association of Manufacturers. “The nation is counting on us to continue to play a leading role in this effort, and lawmakers must equip us with the tools we need. The NAM’s American Renewal Action Plan is the path forward.”

The recommendations in the plan are outlined in three phases — response, recovery and renewal. Following are some of the provisions:

  • Response: Congressional and administrative actions to allow manufacturers to further ramp production and enhance the distribution of personal protective equipment to support all sectors of the economy, including hospitals.
  • Recovery: Congressional and administrative actions to ensure employees can go to work with confidence that proper health precautions are being implemented. Reforms to protect the essential manufacturers that must remain open to provide vital goods and those that retool their factories to make needed equipment and supplies.
  • Renewal: Investment in workforce training programs for dislocated workers. Investment in U.S. infrastructure to boost the economy. Reforms to increase economic and national security by growing the U.S. manufacturing industry. Congressional and administrative actions to expand U.S. exports and strengthen the manufacturing supply chain. For the Treasury Department, the Small Business Administration and the Federal Reserve to increase the speed in which aid is delivered to small businesses by resolving issues related to new lending facilities.

NAM released its COVID-19 Policy Action Plan Recommendations on March 9 as a guide for the government’s initial response to the pandemic. The organization released March 18 an updated and expanded action plan. Congress and the administration have already adopted many of the proposals. Link here for a PDF of the American Renewal Action Plan.