The American Iron and Steel Institute (AISI) Wednesday announced they have sent a letter commending House Majority Leader Steny Hoyer (D-MD) for his efforts to turn Congress's focus to job creation and US manufacturing and offering policy recommendations that Congress should enact in order to advance a national pro-manufacturing strategy and improve the nation's economic security.
As the US unemployment number continues to hover around 9.5 percent, AISI President and CEO Thomas J. Gibson emphasized in his letter that the nation must focus on strengthening U.S. manufacturing, creating jobs and establishing a level international playing field.
In his letter, Gibson focused on a series of suggestions as to what Congress can do "to help strengthen and grow US manufacturing, create jobs and expedite the economic recovery," including the following:
•· Enact a six-year reauthorization of the surface transportation bill- A long term commitment to infrastructure spending will renew demand for steel and other manufactured goods and create jobs.
•· Reinvest in manufacturing R & D on par with our international competitors- Continued funding of the Department of Energy's (DOE) Industrial Technologies program will be critical to the development of breakthrough technologies to assist the industry in transitioning to a low-carbon future.
•· Increase and expand the Advanced Energy Manufacturing Tax Credit - Congress should expand this tax credit to also include clean and efficient energy investment, such as wasted heat and byproduct gas recovery that would aid manufacturers and the environment.
•· Address foreign government currency manipulation - Foreign government interventions to undervalue their currency to make their exports cheaper and their imports more expensive put American goods and services at an unfair competitive disadvantage.
"These actions address the demand for manufacture goods, our ability to continue to produce them with world class performance and fair competition, and are the fastest and most effective steps to job growth and economic recovery," Gibson stated.