Sep/Oct 2004 │ The Aluminum Association │
With the 108th Congress near its end and with European Union (EU) tariffs on U.S. exports increasing, our U.S. manufacturing industries need congressional leaders and the White House to act immediately in finalizing tax legislation needed to end the tariffs and otherwise improve the competitiveness of U.S. businesses.
The Aluminum Association has signed on to a letter saying, "a speedy conference and enactment of this vital legislation are critical and should be a priority of both the Administration and the Congress before the November elections."
Earlier this year the House and Senate each passed differing versions of legislation that will repeal an existing tax break for exports that has been ruled illegal by the World Trade Organization (WTO). Both bills include repeal of the ETI regime, a domestic manufacturing benefit, an international tax reform package, and extension of the research and development tax credit. However, there are a number of outstanding issues, including whether to include S Corporations and other pass-through entities into the final bill. EU tariffs on a broad range of U.S. exports have now increased to 11 percent. The respective bills, which also provide needed tax reform and incentives for U.S. businesses, must be reconciled, brought up for final votes, and signed into law by President Bush before the EU will end its WTO-approved tariffs on various U.S. products.
The tax reforms and incentives in the bill include tax relief for manufacturers, reforms to the international tax provisions, a temporary incentive for repatriation of foreign earnings for investment in the United States, and an extension and modification of the R&D credit as well as other critical provisions.
As we approach fall elections, lawmakers may be tempted to "fix" the health-care system. One proposed solution to provide mental health parity—S. 486—could in effect raise health care costs and should be opposed. Senate floor action is possible on S. 486 and its substitute version—either as a freestanding bill or as an amendment to an appropriations bill—in the near future. Manufacturers need Congress’s help to make coverage more affordable, and Congress should oppose any bill that will increase the cost of health coverage.
Asbestos reform efforts are still alive with Senate leaders having exchanged proposals in recent weeks, giving hope to companies and workers that have been victimized by massive asbestos claims. The NAM-led Asbestos Alliance continues to urge senators to reach a consensus and enact reform. For information see www.asbestossolution.org.
On November 2, U.S. workers benefiting from business and manufacturing public policies are encouraged to turn out to help elect and re-elect those lawmakers who can preserve their jobs, lower their benefits costs, and sustain their companies’ viability. We as an industry want to ensure that U.S. aluminum industry workers represent their companies’ interests in the ballot boxes and absentee or early voting.
This November,
The Association has worked to provide the aluminum industry with voter tools to help our industry elect "pro-aluminum-manufacturing" policymakers. The web site www.aluminum.org and the BIPAC organization’s Prosperity Project provide companies voter registration and absentee ballot information and forms for each state. As candidates file for office, and votes that matter are cast, we'll present candidate guides and voting records.
We provide industry employees information to assist them casting their votes and becoming more involved in the electoral process. But we don't—and won't—tell them how to vote.
The political agenda for American business—the "Outline for Prosperity"—was developed by a coalition of business leaders as a statement of issues on which the business community is unified. It encourages, and we support, passage of an economic growth and job-creation package—and of long-term tax reform—that should include as many of the following as possible:
Tax: Permanent repeal of the death tax; elimination of double taxation of dividends; repeal of the corporate and individual AMT; reduction of corporate tax rates; enactment of enhanced permanent R&D tax credit legislation; and reduction of capital gains taxes.
Regulatory Policy: Requiring independent peer review to improve the quality of regulatory decisions; deregulation of functions where the marketplace or technology has made regulation unnecessary or inappropriate; streamlining of compliance and clarifying deadlines; and promotion of international harmonization of standards and regulatory processes.
Environment: Tax and other incentives promoting voluntary environmental policies—not prescriptive regulations; performance-based management for regulatory agencies where possible; emphasis on defining, measuring, and rewarding environmental results and reorienting core regulatory functions so they are driven by performance goals (not activity measures); a U.S. role in international organizations with environmental responsibilities; and using credible science and rules-based decision making to develop multinational regulatory programs.
Trade: Pursuit of bilateral, regional, and multilateral trade and tariff-reduction talks.
Energy: Encouraging federal, state, and local governments to implement a market-based national energy policy using all forms of energy, while ensuring the quality of the environment.
Healthcare: Public- and private-sector partnering to encourage healthcare solutions while avoiding imposition of new burdens that increase cost or limit access or options.
Between now and November, aluminum companies are encouraged to make their employees aware and motivated to register and vote “pro-aluminum.” Please use the voter tools at www.aluminum.org under the “Get Out the Vote” button.
Click Here to Get Involved!
Get-Out-the-Vote!
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» Conduct a plant or facility tour
» Encourage telephone calls to legislators
» Send out Voter Guides and Candidate Questionnaires
America works best when Americans vote. But the percentage of voters casting ballots usually declines with each election.
Aluminum companies are encouraged to make their employees aware and motivated to register and vote "pro-aluminum." Please use the voter tools at www.aluminum.org under the "Get Out the Vote" button.
