MFG.com has written, posted and submitted an online petition to President Obama and the U.S. Congress advocating a comprehensive and cohesive manufacturing policy to restore vitality to U.S. manufacturing, encourage innovation, ensure realistic global competition and create meaningful jobs.
The petition calls out five areas for reform that are critical to the health of U.S. manufacturing:
- Corporate tax policy reform — Reduce the burden on manufacturing businesses to free them to innovate and grow, as well as to compete with lower-cost countries. This reform should include aggressive capital equipment and technology depreciation, as well as statutory corporate tax relief to encourage reinvestment in R&D and pursue exporting opportunities to emerging markets.
- Trade policy reform — Establish and enforce clearly enunciated levels that work in conjunction with a reformed tax policy to make U.S. manufacturers more attractive to international OEMs, as well as attract foreign-owned manufacturing into the United States.
- Regulatory policy reform — Sensible lessening of regulatory burdens on business will allow for greater focus on core competencies, product R&D and global competitiveness.
- Immigration reform — Invest in a sound foundation of immigration policies that attract and retain the best technologists, scientists and innovators from around the world.
- Patent and trademark reform — Recreate the processes and requirements for applications to keep pace with growing demand, accelerate awards, and protect the inventions of small- and medium-sized manufacturers.