MOUNTAIN VIEW, Calif., Dec. 11, 2012 /PRNewswire/ -- The Manufacturing Leadership Council (MLC), an organization of senior executives committed to creating a better future for the industry, today urged President Obama and Congressional leaders to avoid the Fiscal Cliff by embracing a series of MLC recommendations that will help ensure economic prosperity in the years ahead.
The manufacturing industry has played a key role in fueling the nation's recovery from the depths of the recent Great Recession—by increasing productivity and innovation, aggressively seeking out emerging markets, and investing in capital equipment and breakthrough technologies. The Fiscal Cliff that now faces the country threatens to undo the gains that U.S. manufacturers have fought for over the past four years. Manufacturers already have seen orders fall, as customers in the U.S. and overseas pull back, due in large part to uncertainty raised by the Fiscal Cliff. As growth slows, manufacturers have had to postpone hiring and capital investments, undermining the nation's economic momentum.
"The Manufacturing Leadership Council is deeply concerned that the impasse in Washington over so-called Fiscal Cliff tax and spending policies could lead to serious economic consequences, including another recession that could damage not only the U.S. economy but the global economy as well, " said David R. Brousell, Vice President and Editorial Director for the MLC. "Given manufacturing's central role in the economy, the MLC is determined to help find a way forward."
Last Thursday, the MLC held a special, open meeting of its members as well as other companies and organizations in the manufacturing industry to discuss and devise recommendations on specific tax and spending policies to avoid the Fiscal Cliff.The recommendations, which have been sent to President Obama and key members of the Senate and House leadership, are: