12 February 2013 23:09 [Source: ICIS news]
HOUSTON (ICIS)--Several ?xml:namespace>
The Society of Chemical Manufacturers and Affiliates (SOCMA) believes Obama will focus his remarks on American manufacturing competitiveness and market expansion, a subject on which the organisation says he and Congress “failed to spend sufficient attention during his first term”.
“Manufacturers are urging policymakers to support and enact the pro-manufacturing policies that will spur job creation, provide a skilled workforce and help improve the pace of
“Manufacturing has the highest multiplier effect of any sector of our economy – investment in manufacturing creates a ripple effect of job creation and growth throughout the
“We hope the president will include concrete actions in his address tonight that will put manufacturing in the
The National Association of Chemical Distributors (NACD) said it applauds the president’s growth goals, but the past four years have seen little to no real growth in the manufacturing sector.
“As we look to compete on the global stage, we need sensible regulation and certainty in our tax codes so NACD members can align their resources for job creation and economic growth,” said Chris Jahn, NACD president.
The NACD is working with regulatory agencies on environmental and safety issues, especially in the handling of chemicals, but the industry group said growth cannot flourish under the weight of higher taxes and a crippling regulatory environment.
“The tax provisions in the fiscal cliff package early this year will impact small business's bottom line, slowing growth and job creation,” Jahn said. “As the president seeks more tax revenue from top earners, we urge him to recognise that small businesses are a fundamental building block of job creation and that more taxes mean fewer jobs.”
In addition to competitiveness and market expansion, SOCMA expects Obama to announce that the
“Data shows that the
Signing new free trade agreements is a principle of SOCMA’s “First 100 Days” initiative, which discusses issues important to the specialty chemical industry, the industry group added.
The American Fuel and Petrochemical Manufacturers (AFPM) said Obama’s legacy will be defined by several benchmarks that are “inexorably bound together”, including jobs, the economy, energy independence and national security.
“In his state of the union address, the president has the unique opportunity to begin to write his legacy based upon a free and open market philosophy by embracing the significant role that North American oil and natural gas can play in the economic revitalisation and catalyst for the energy and national security that seven of his predecessors have sought,” said Charles Drevna, AFPM president.
“We hope he does not squander such an opportunity by latching onto unrealistic and costly mandates aimed at picking winners and losers in the marketplace, to the disadvantage of consumers and our nation’s economic growth," he added.
Obama’s speech will begin at 21:00
Afterward, a panel of senior advisers will be answering questions submitted via Twitter, Google+ and Facebook, as well as from the live audience.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections