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."
Later today Vice President Joe Biden will host a meeting with chief executives from manufacturing companies to lay out a "framework" for boosting business for the sector.
In response to today's announcement, U.S. Sen. Sherrod Brown (D-OH) issued the following statement:
"While the public and private sectors are creating a demand for new industries like wind, solar, high-speed rail, and medical IT, we need to do more to ensure that we make these products in America. The Obama Administrations framework released today is a significant step for domestic manufacturing and a departure from years of neglect that previous administrations wrought on our nations manufacturing sector.
"The proposals outlined in the framework can help stem the loss of jobs and create new jobs for American workers by investing in 21st century technologies. But in order to provide manufacturers with the tools they need to create jobs, we need policies that do not just stimulate consumption -- we need to stimulate production.
"Like so many others, I have been concerned about recent reports that a planned Texas wind farm receiving more than $425 million in Recovery Act funds is expected to create more than 2,000 manufacturing jobs in China. The Texas joint venture is only one of many projects directed toward clean energy vying for taxpayer money that could be used to create manufacturing jobs overseas.
"That is why I welcome the administrations support for raising the Advanced Energy Manufacturing Tax Credit cap to $5 billion. I have shared draft legislation with the administration and Senate leadership that would increase the cap and help ensure taxpayer dollars go toward domestic job creation. I will work with my colleagues to pass this authorization."
This summer, Brown introduced the Investments for Manufacturing Progress and Clean Technology (IMPACT) Act, which would establish a $30 billion Manufacturing Revolving Loan Fund to help small- and mid-sized manufacturers transition to the clean energy economy through retooling. The bill would also expand the Manufacturing Extension Partnership (MEP) in order to help manufacturers access new export markets. Browns legislation is estimated to have the potential to generate more than $100 billion in revenue for clean energy businesses and create 680,000 direct manufacturing jobs and nearly two million indirect jobs over five years.
