Our manufacturing tour in Missouri’s 7th Congressional District is always one of the most well attended tours we do annually. The tour gives us the opportunity to showcase the great work taking place in the district along with learning how those of us in Congress can ensure manufacturers continue to be successful.
As one of the driving forces of our economy, manufacturing makes up 8.6 percent of the U.S. workforce with 12.75 million people employed. In the first quarter of 2018 alone, the manufacturing industry contributed $2.33 trillion to the economy and was among the top three industries to contribute to our economic growth.
Similar to the U.S. economy, Missouri’s manufacturing industry accounts for 9.2 percent of the workforce with nearly 260,000 people. In southwest Missouri specifically, manufacturing remains one of the top five industries for employment. The average salary for someone working in manufacturing in Missouri is $68,738, which is well above the average Missouri salary of $46,125.
In 2016, overregulation and excessive taxes were cited as some of the top concerns among manufacturers. Although overregulation affects every industry, it hits manufacturers the hardest costing them on average $19,564 per employee to comply with. Thanks to the Tax Cuts and Jobs Act (TCJA) and Republican efforts to roll back regulations, that all is changing. Following the passage of the TCJA, 70 percent of manufacturers increased both their hiring and employee wages. Not only have hiring and wages gone up, but nine out of 10 manufacturers invested more in their businesses.
The Energy and Commerce Committee I serve on has also plays an active role in making sure the manufacturing sector continues to thrive. Over the last year, the committee has held several hearings on issues that either impact the manufacturing or the industry itself, including topics such as how low unemployment and increasing wages impact the manufacturing sector as well as evolving technology.
Our economy depends on the hardworking men and women in the manufacturing industry. It’s up to Congress to get rid of both the burdensome policies that hinder growth and the bureaucratic red tape that stifles innovation.
This is another political ad, but let us look at those regulations and taxes. Regulations are in place to prevent smokestack emissions harmful to the citizens, another regulation is introduction of harmful chemicals or metals into their effluent that cannot be gotten out with our meager wastewater treatment facilities. Regulations are one that oversee how long the trucking industry can make its drivers operate without a rest which in turn makes all roads a little safer. Regulations introduced air bags, seat belts, headlight aiming, better glass, padded dashes, front cradle assemblies that collapse on impact for our cars; are these not helpful and let us face it, those regulated things are thus borne by the consumer because industry is not angelic enough to absorb those costs. So, let us admit that a few regulations and taxes are good and maybe a small percentage are bad; so saying all are bad or need to go a intelligent, escapes Long, discussion is needed and maybe some new ones are to be included. Oh, taxes for roads and bridges, we for sure need to get rid of those. What about regulations protecting our drinking water from fracking or drilling in the Grand Canyon?
ReplyDeleteWould love for Congressman Long to name a specific regulation that should be eliminated. Then we could evaluate his argument on the merits.
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