Announcements & Releases Manufacturing Engage 2021 — Registration Now Open
For more information, visit www.metalworkingadvocate.org. If you have questions, please e-mail info@metalworkingadvocate.org.
September 2021 Business Conditions Report: Supply and Worker Shortages Create a Challenging Environment for Metalformers
Register now for Manufacturing Engage 2021 — this year’s event will build on NTMA’s long legacy of providing precision manufacturers and industry leaders with the invaluable experience of gathering together to network, learn and advocate for the advancement and future of the industry. Don’t miss the chance to connect and engage IN-PERSON in Old Alexandria, VA this October! For more information, visit: https://web.cvent.com/event/514da3d5ea15-4065-b22f-390b6214c35e/summary
Tell Congress NO to Tax Increases Want to pay more taxes? Do nothing. Congress is currently considering tax legislation that would raise taxes on manufacturers in the U.S. and reverse many of the positive impacts the 2017 Tax Cuts and Jobs Act (TCJA) has had on the economy. One Voice fought hard and won with the passage of the TCJA, creating a tax code that incentivizes domestic manufacturing through lower rates and stronger investment provisions. Without action from you Congress could soon pass tax increases including: Limiting the Small Business Deduction (section 199A) Raising the top individual rate from 37% to 39.6% Raising the top corporate tax rate from 21% to 26.5% Increasing the effective top capital gains rate from 23.8% to 28.8% Reducing the estate tax exemption in 2022 (rather than 2026) ACTION: Your voice matters and Congress needs to hear from you on the negative consequences of raising taxes on U.S. manufacturers. Click here to contact your members of Congress TODAY and call on them to support American manufacturers by opposing tax increases in the budget reconciliation. A2Z Manufacturing Rocky Mountain •
6 Sept/ Oct
2021
Metalforming companies expect business conditions during the next three months to continue to prove challenging, according to the September 2021 Precision Metalforming Association (PMA) Business Conditions Report. Prepared monthly, the report provides an economic indicator for manufacturing, sampling 114 metalforming companies in the United States and Canada. PMA’s September report shows that only 26% of metalforming companies forecast an increase in economic activity in the next three months (decreasing from 29% in August and down 10% compared to July), 56% predict no change (compared to 57% last month) and 18% anticipate a decline in activity (increasing from 14% in August). Sixty-one percent of respondents reported an increase in lead times, slightly down from 64% in August. “The September PMA Business Conditions Report reflects the fact that members are facing continued uncertainties related to the supply of raw materials to meet demand, the ongoing chip shortages that are impacting large customers and the continued shortage of workers,” said PMA President David Klotz. “Lead times and skyrocketing prices for raw materials, particularly steel, but also for aluminum, copper, brass and other metals, continue to grow and now extend into 2022 in some cases. The difficulty in finding and maintaining skilled workers is also a major focus for PMA, with our association and members engaged in a proactive campaign to drive awareness about the great careers in our industry and programs to strengthen workforce training such as METALFORM EDU. Additionally, through our One Voice advocacy team in Washington, D.C., we continue to advocate to end the damaging Section 232 steel and aluminum tariffs to help increase materials supply.” Announcements Con’t Next Page
