The chairman of the Specialty Steel Industry of North America (SSINA) today sent a letter to President Bush conveying support for the American Competitiveness Initiative (ACI).
Dr. Jack W. Shilling, chairman of the SSINA refers to a recently published study, “Specialty Metals and the National Defense,” in the letter, citing the importance of competitiveness in job growth and the economy, specifically as it relates to the specialty metals industry's contribution to national defense. “It is also important to note that the US specialty metals industry is modern and efficient, and is at the leading edge… throughout the world… in both new product development and the implementation of advanced manufacturing technology” says Shilling.
The study forewarns, however, the potential loss of the domestic specialty metals industry without the needed government encouragement for ongoing domestic investment. Shilling comments “it is only necessary that significant ongoing investment be made here in order to support our economy, favorably impact our balance of trade, maintain our leadership position in technology and provide for our national defense.”
The study isolates two issues as priorities for the implementation of the ACI. Research, education and innovation are inextricably linked to the manufacturing process as well as a “leveling of the playing field” by providing needed tax reform. Shilling notes “tax reform is vitally important, not only with regard to taxes on individuals as you point out, but most importantly with regard to taxes on corporations related to investments in manufacturing capacity and technology development.”
The complete industry report can be found on SSINA’s website: http://www.ssina.com/.