Dems to Push Manufacturing in September

Institute for America’s Future President Robert Borosage writes that the Democrats will take further steps to support U.S. manufacturing in September. He says that

When they return in September, the Democratic majority plans to push a legislative agenda that takes the first steps toward reviving U.S. manufacturing. Specific elements are still being determined but are likely to include new tax incentives for creating jobs, subsidies and tax credits for investment in renewable energy and a tougher stance on trade — probably featuring a challenge to Chinese currency manipulation….

Democratic leaders were also electrified by a Mark Mellman poll for the Alliance for American Manufacturing, which showed that large majorities believe manufacturing is the most important industry for our economy and national security and support action to revive it. Two-thirds of Democrats, Republicans and independents reject the view that “high-tech and services” industries can replace manufacturing in a strong U.S. economy.

When Mellman put a message calling for action to secure our manufacturing base against a conservative line disparaging Big Government and the auto bailouts and invoking the free market, the former won by almost two to one — 60 percent to 32 percent.

More than 75 percent of Americans support a “national manufacturing strategy to make sure that economic, tax, labor and trade policies work together to help support manufacturing in the U.S.”

Not surprisingly, the Democrats’ lead initiative now is the National Manufacturing Strategy Act, introduced by Rep. Daniel Lipinski (D-Ill.). It calls for quadrennial review of U.S. manufacturing policy — including assessing strategic industries, reviewing tax and trade subsidies and requiring agencies to coordinate strategies.

Here, good politics is also good policy. A bold initiative for reviving U.S. manufacturing is overdue. Since 2000, we’ve lost nearly one-third of all manufacturing jobs — more than 5 million. We’ve racked up $6 trillion in global current account losses, borrowing as much as $2 billion a day to cover our trade deficits. Rising deficits now sap the faltering recovery.

The full article can be read at the Huffington Post, here.

– The Editors