Manufacturing “was one of the first topics addressed in the president’s annual speech. Biden boasted of several legislative feats in 2022—particularly on infrastructure and investments in cutting-edge production facilities—while pressing Congress to ‘finish the job’ and ensure the U.S. became a global manufacturing leader.”

  • “Instead of the Biden administration’s misguided suggestions for restrictions on pharmaceutical innovation and for destructive tax increases, Congress should immediately reinstate critical tax deductions for the costs of research, machinery purchases and key business investments,” Timmons said. “Restoring these tools is essential to keep up the pace of manufacturing job creation and to out-innovate and outcompete China.”
  • President Biden also failed to discuss the need for permitting and regulation reform on key infrastructure and energy projects, Timmons said. “[T]o truly unleash manufacturing investment, fully realize the potential of the infrastructure law and achieve energy security in America, we need a smarter, balanced approach to regulations and significant permitting reform so that projects don’t languish for years in a bureaucratic mess just waiting for government approvals. After all, manufacturers are already making great strides in reducing emissions. Now is not the time to add top-down air regulations that will cost us jobs and snarl supply chains.”