AEM and Komatsu kicked off the Republican National Convention with a policy panel on the future of U.S. equipment manufacturing.
Komatsu opened the doors to its South Harbor Campus in Milwaukee, Wisconsin to hundreds of manufacturing workers for a policy panel featuring Virginia Govenor Glenn Youngkin, U.S. Senator Bill Hagerty (R-Tenn.), and U.S. Representative Bryan Steil (R-Wis.). The wide-ranging discussion explored the policies needed to secure the long-term growth and prosperity of the equipment manufacturing industry in America.
Rod Schrader, Chairman and CEO of Komatsu America Corporation, kicked off the policy panel, noting that “with the right mix of policies, equipment manufacturers will be well positioned to do what they do best: grow their businesses, invest in their communities, and hire more Americans.”
The policy panel, which was moderated by AEM’s Kip Eideberg and Kate Fox Wood, explored how to create a policy environment that allows equipment manufacturers to compete in the global economy and create jobs across the United States.
“When policymakers work to strengthen America’s global competitiveness, we get good policy. Over the last eight years, the U.S. manufacturing sector has benefitted from transformative policies,” said Kip Eideberg, AEM’ Senior Vice President of Government and Industry Relation. “The challenge ahead of us is to maintain this momentum. Equipment manufacturers still face persistent labor shortages, a regulatory onslaught, and inaction on key policy priorities that stifle growth.”
A big topic of the discussion was focused on the transformative power of the U.S. equipment manufacturing industry to improve the quality of life for Americans, and the urgent need to advance a comprehensive policy agenda that allows equipment manufacturers to continue to invest in their communities, grow their businesses, and hire more Americans.
“There is no magic wand, no silver bullet, no single policy. What we must do is create a competitive manufacturing ecosystem that is rooted in business-friendly policies, including regulatory reform, permitting reform, pro-growth tax provisions, a workforce, and talent pipeline that is second to none,” said Governor Youngkin.
The panelists also discussed how foreign direct investment strengthens U.S. equipment manufacturing and ensures that the future is made in America; stressed the need to retain a competitive tax system that allows companies to grow and innovate in the United States; and touched on the need to reduce the regulatory burden facing equipment manufacturers across the country.
“We are taking a hard look at regulatory compliance costs in states like Virginia, Tennessee, and Wisconsin. We are creating environments that are conducive to business growth. The United States of America has great potential. We must recognize that, take advantage of it, and not do anything to disadvantage us. And with that mindset, we are going to move America forward to be the manufacturing giant of the next century,” said Senator Hagerty.
On the topic of strengthening America’s position as a manufacturing powerhouse, the panelists all agreed that the United States needs to remain committed to expanding rules-based trade and investment to make it easier for U.S. equipment manufacturers to compete in the global economy and sell their products to customers around the world.
“There is a lot of equipment produced here in the United States, and especially in the state of Wisconsin, that is shipped to customers around the world. That is terrific for our economy. But we must also recognize that we have had trade agreements that have been done not to the benefit of American workers, and we need to ensure that any future deals are free, fair, and reciprocal,” noted Representative Steil.
Against the backdrop of the Republican National Convention, the Association of Equipment Manufacturers is hosting a series of events in Milwaukee this week to remind lawmakers of the vital role equipment manufacturers play in building, powering, and feeding the world and to advance a policy agenda that will ensure that the future is made in America.
Watch the full video of the policy panel below or here:
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