NAM Backs Latest Stimulus Plan

Engler says bill is a 'positive first step' toward reviving the economy

The National Association of Manufacturers supports the House and Senate compromise version of the economic stimulus plan, saying it's a critical step to revitalizing the nation's economy, NAM President John Engler said Feb. 12.

"Our member companies from around the country are telling us they agree with Congress and the administration that decisive and immediate action is critically necessary to spur economic revitalization," Engler said in a statement released late Thursday. "They understand that the conference version of the American Recovery and Reinvestment Act is not perfect but they believe the overall plan is an acceptable balance of tax cuts and investment designed to help job providers and the people who depend on them.

Engler continued, saying: "We view this bill as a very positive first step in promoting our nation's economic revitalization. It is clear to NAM members that more needs to be done to revive our economy and ensure durable economic growth in the future, particularly in light of the current credit crunch and liquidity problems faced by manufacturers.

"It is critical that Congress and the administration further expand tax relief for struggling companies of all sizes, lower tax rates on overseas income reinvested in the United States, provide temporary funding relief for companies that sponsor traditional pension plans and provide additional incentives to jumpstart the housing market. We support this legislation and urge Congress to pass it without delay."

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