Don’t worry, we’re not going to jump into the fray here and tell you who you should vote for next Tuesday. But we do want to emphasize that, no matter where your vote is cast, this year’s election will have a definitive impact on the American manufacturing industry. We all know that politicians make decisions that affect not only how we do business but also where we can do business and who does business with us.
We don’t care who you vote for…but we hope that you will educate yourself on the issues that will affect manufacturing and let your voice be heard on November 8! The issues below were taken from the National Association of Manufacturer’s Voting Guide, North Carolina District 6 (you can plug in your own district here.)
1. The EPA Clean Power Plan: Whoever takes the office of the president next January will have some big decisions to make on the Obama administration’s Clean Power Plan (CPP), which basically would force the closure of a substantial portion of the current electric power grid. Of the three major candidate for president, Hillary Clinton (D) supports the CPP while Donald Trump proposes to repeal the CCP regardless of the Supreme Court ruling on the plan to be held in January 2017 and Gary Johnson favors a carbon tax over the CPP for regulating emissions.
2. Corporate taxes: Corporate tax rates have a significant impact on business in general. The NAM supports comprehensive tax reform with R&D incentives and a competitive international tax system. Hillary Clinton does not plan to change the corporate tax rate but does include a “Manufacturing Renaissance Tax Credit” to help areas that face significant manufacturing job losses eligible to receive credits. Donald Trump has a plan that states that no American company will pay more than 15% of their business income in taxes. Gary Johnson promises to simplify corporate taxes.
3. Patient Protection and Affordable Care Act (also known as Obamacare): This is a big concern for not only manufacturers but also for the workers employed by manufacturers. Clinton promises to uphold and expand the ACA; Trump supports a full repeal of the act; and Johnson favors fully privatized health care.
4. The Trans-Pacific Partnership (TPP): The TPP is a multi-national trade agreement that aims to slash tariffs and foster trade growth among 12 countries: the U.S., Japan, Malaysia, Singapore, Vietnam, Brunei, Australia, New Zealand, Canada, Mexico, Peru and Chile. Some say it could create a new single market similar to the European Union. Hillary Clinton does not support the TPP nor does Donald Trump. Gary Johnson said he doesn’t necessarily agree with it but has been told the legislation would improve trade.
There are many more issues that affect all of us both personally and professionally. But these are just a few of the issues that we are taking a closer look at as members of the manufacturing community. Let’s go vote and make a difference in American manufacturing.