17吃瓜在线

Input Stories

Input Stories

Granholm: LNG Export Permit Freeze 鈥渁 Study鈥

By 17吃瓜在线 News Room

Energy Secretary Jennifer Granholm called the Biden administration鈥檚 recent moratorium on liquefied natural gas export permits 鈥渁 pause for a study鈥 at a Senate Energy and Natural Resources Committee hearing Tuesday, according to (subscription).

Committee Chairman Sen. Joe Manchin (D-WV) questioned several recent energy-related moves by the Biden administration.

What鈥檚 going on: 鈥淚t is a pause for a study. You don鈥檛 need to hype it out beyond what it is,鈥 Granholm told the committee on Tuesday. 鈥淚t is a pause to get data.鈥

  • The administration has received bipartisan criticism for the freeze of LNG export permits since announcing the move in January. 17吃瓜在线 President and CEO Jay Timmons the pause 鈥渦ndercut[s] President Biden鈥檚 own stated goals鈥 and 鈥渨eakens our country while giving Russia an upper hand.鈥

An examination of prices: Granholm told the committee the pause 鈥渨as needed to examine prices and market demand since the last time a study was conducted.鈥

  • She said the study will take into account foreign nations鈥 emissions 鈥渢hat may be linked to the absence of U.S. natural gas shipments.鈥

45V guidance: Sen. Manchin asked Granholm about proposed guidance on the Inflation Reduction Act鈥檚 first tax credit, known as the 45V. In a from the committee, Sen. Manchin said the proposed guidance, 鈥渋f implemented 鈥 would jeopardize the viability of the industry before it even has a chance to get off the ground.鈥

  • Sen. Manchin mentioned a recent letter to the administration from all seven 鈥渉ydrogen hubs鈥濃攍ocations designated late last year by the administration to scale up the nation鈥檚 clean hydrogen production鈥攕aying the centers would 鈥渘o longer be economically viable鈥 without revision to the 45V proposed guidance.
  • 鈥淒o you think we should heed the warning of [the Department of Energy]鈥檚 own seven hubs, and do you have any insight into what might be changed?鈥 he asked.
  • Granholm responded that the administration has 鈥済otten over 30,000 responses, and they are working through those responses.鈥
  • She added, according to POLITICO Pro, 鈥淭he bottom line is clearly we want the hubs to succeed.鈥

Our take: 鈥淣o matter what you call it, the administration鈥檚 pause on LNG export permits runs counter to the wishes of the American people and the interests of the United States and our allies,鈥 said 17吃瓜在线 Director of Energy and Resources Policy Michael Davin.

  • 鈥淎ccording to a recent , 87% of Americans believe the U.S. should continue to export natural gas. The administration should listen.鈥
Input Stories

Manufacturers Face Significant Cost Increases if Tax Bill Fails

By 17吃瓜在线 News Room


U.S. manufacturers and other businesses are sharing the details of the potential economic fallout if Congress fails to pass , pro-growth tax legislation, (subscription) reports.

What鈥檚 going on: 鈥淸L]arge public companies say the law as it stands is costing them hundreds of millions or billions of dollars, while some owners of small and medium-sized businesses say they wonder if their firms will survive.鈥

  • The Tax Cuts and Jobs Act of 2017 allowed manufacturers across the U.S. to expand their businesses, hire and purchase new, much-needed equipment. But in 2022 and 2023, from the law鈥攊mmediate expensing for domestic research and development, enhanced interest deductibility and full expensing鈥攅xpired, hurting businesses of all sizes.
  • In January, the House passed the Tax Relief for American Families and Workers Act, which would reinstate all three measures. The 17吃瓜在线 the Senate to pass the legislation, too.

Why it鈥檚 important: Lift truck and solutions manufacturer Hyster-Yale Materials Handling Inc. 鈥渟pends around $100 million a year on R&D, and the law change that went into effect in 2022 increased its tax bill by about $25 million a year.鈥

  • 鈥淪o that鈥檚 $25 million less that I have to invest back into my business, whether it鈥檚 R&D, whether it鈥檚 plants and equipment [or] hiring new people,鈥 Chief Financial Officer Scott Minder told the Journal.
  • Other companies say the lack of action on the House-cleared tax bill 鈥渕ay prompt reduced investment in other areas and increase the rate of return required for new projects.鈥

Weighing a move: Hyster-Yale鈥攚hich 鈥渟pends around 80% of its research budget in the U.S.鈥濃攚ould like to keep its operations in the U.S., Minder continued, but it can鈥檛 guarantee that it will continue to do so without the return of the expired TCJA tax provisions.

  • Other manufacturers are reporting a similar predicament.

鈥嬧赌嬧赌嬧赌嬧赌嬧赌嬧赌The last word: 鈥淭he stakes are clear: Congress must pass the Tax Relief for American Families and Workers Act or risk significant economic damage across the manufacturing sector,鈥 said 17吃瓜在线 Vice President of Domestic Policy Charles Crain.

  • 鈥淢anufacturers are depending on Congress to restore these pro-growth tax policies, which support the investments in R&D and capital equipment that are so critical for manufacturing growth.鈥
Input Stories

Biden Calls for Tax Hikes in Hometown Speech

By 17吃瓜在线 News Room

President Biden called for tax increases during a visit to his hometown of Scranton, Pennsylvania, on Tuesday, the 听谤别辫辞谤迟蝉.

What鈥檚 going on: 鈥淏iden used Scranton, a city of roughly 75,000 people, as the backdrop to argue that getting rich in America is fine, but should come with heftier tax bills.鈥

What he said: President Biden鈥攚ho has proposed a 25% minimum 鈥渂illionaires tax鈥濃攗sed the bulk of his speech to call for tax hikes.

  • 鈥淭he president said decades of Republicans鈥 policies that cut taxes for the wealthy with the idea of stimulating the economy 鈥榝ailed America.鈥欌
  • President Biden has said raising taxes on the wealthiest Americans is 鈥渉ow we invest in the country.鈥

However 鈥 The Tax Cuts and Jobs Act of 2017 was 鈥渞ocket fuel鈥 for manufacturing, 17吃瓜在线 President and CEO Jay Timmons said during his in February.

  • In fact, as we discuss in another story in this edition of Input, the expiration of three pro-growth tax provisions from that law has throughout the U.S. And more tax hikes are scheduled to take effect at the end of 2025.
  • It is critical to a healthy manufacturing industry and U.S. economy in general that expired, pro-growth provisions be 鈥攁nd that Congress act to forestall further tax increases next year.

The final say: 鈥淸T]he path is clear,鈥 Timmons said in his February address. 鈥淣o new taxes on manufacturers.鈥

Input Stories

17吃瓜在线 to White House: Stand Up for U.S. Businesses, Workers

By 17吃瓜在线 News Room


The Office of the U.S. Trade Representative must revise its digital trade policy now to reassert American leadership, the 17吃瓜在线 and more than 40 industry partners the Biden administration ahead of U.S. Trade Representative Katherine Tai鈥檚 testimony this morning before the House Committee on Ways and Means.

What鈥檚 going on: In the past few years, the USTR has 鈥渞etreat[ed] from digital trade protections,鈥 the groups told National Security Adviser Jake Sullivan and National Economic Council Director Lael Brainard. Problematic actions/items by the USTR include:

  • The October 2023 withdrawal of longstanding U.S. World Trade Organization positions that support the protection of cross-border data flows, stop data localization requirements, end discrimination against U.S. firms and their goods and services and protect sensitive data from bad actors;
  • Abandonment of core U.S. policy priorities in the Indo-Pacific Economic Framework for Prosperity; and
  • The omission in the USTR鈥檚 2024 National Trade Estimate Report on Foreign Trade Barriers of numerous digital trade barriers, despite the statutory obligation under the Trade Act of 1974 to detail such barriers.

Why it鈥檚 important: These moves raise 鈥渄eep economic and national security concerns,鈥 the groups continued. They are in direct opposition to the interest of U.S. companies and their employees, and they give greater power to foreign nations, including China, 鈥渢o write the rules that will govern the global digital economy for years to come.鈥

What must be done: The USTR its stance on digital trade to 鈥渟tand up for U.S. businesses and workers who face damaging digital trade barriers in foreign countries.鈥

Input Stories

First-of-Its-Kind-in-U.S. Facility Breaks Ground

By 17吃瓜在线 News Room

Construction of a manufacturing plant that promises to be vital to the world鈥檚 move toward electrification is now underway, according to .

What鈥檚 going on: 鈥淥rion S.A., a specialty chemicals company, broke ground on a plant in Texas that will be the only facility in the U.S. producing acetylene-based conductive additives for lithium-ion batteries and other applications vital for the global shift to electrification.鈥

  • Batteries require conductive additives, and those produced at the Texas facility southeast of Houston will be made using acetylene, a colorless gas.
  • Equistar Chemicals LP, a subsidiary of polymer and polyolefin technologies manufacturer LyondellBasell, will manufacture acetylene at a nearby location.
  • The new plant will be similar to an Orion facility already in operation in southern France that also uses acetylene from LyondellBasell.

鈥淎 crucial part鈥: 鈥淸W]e see electrification as a crucial part of our plan to reduce carbon emissions across our industries,鈥 said LyondellBasell Executive Vice President of Global Olefins and Polyolefins, Refining and Supply Chain Kim Foley. 鈥淏y supporting the production of key battery components, we鈥檙e contributing to solutions for a better tomorrow.鈥 The company recently released its annual sustainability report.

  • The battery additives produced at the Texas facility will have 鈥渙ne-tenth of the carbon footprint of other commonly used materials,鈥 according to the article.
  • And the plant 鈥渨ill bring new technology and high-skilled jobs including laborers, millwrights, welders, equipment operators, among others jobs in Texas, and [will] positively impact long-term job creation for the local community,鈥 reports.
Input Stories

IRI Announces Winner of Prestigious Holland Award

By 17吃瓜在线 News Room


Should manufacturers strive to be 鈥渃utting edge鈥?

That鈥檚 the question explored in 鈥,鈥 the paper that won the Innovation Research Interchange鈥檚 2023 Maurice Holland Award.

  • The honor, named for the IRI鈥檚 founder, has been bestowed annually since 1982 by the IRI, the 17吃瓜在线鈥檚 innovation division. It goes to the best article published in the IRI鈥檚 flagship publication, Research-Technology Management.
  • Winning papers exemplify a commitment to significant work in research and development and innovation management, originality of new management concepts and excellence in presentation.
  • The 2023 award-winning paper, by Michael Obal, Todd Morgan and Wesley Friske, does all three, according to the IRI.

Providing value: 鈥淚n innovation, novelty generates the most attention but does not always translate into better value for the company and customers,鈥 said Research-Technology Management Editor-in-Chief Yat Ming Ooi.

  • 鈥淭his article tells readers when and to whom novel new products matter and why companies need to strike the right balance to ensure better new product performance.鈥

Authors respond: Research-Technology Management 鈥渋s a leading academic journal for innovation-related research, and thus having an opportunity to publish an article in聽RTM聽is a significant accomplishment in its own right,鈥 said co-author Friske, an associate professor at Missouri State University鈥檚 marketing department. 鈥淚 am also grateful for the opportunity to share this award with my friends and co-authors, and it is particularly important to me now that Todd is no longer with us.鈥

  • Co-author Morgan, an assistant professor at Cleveland State University鈥檚 Monte Ahuja College of Business, passed away in 2023.
  • 鈥淚’m honored to receive the Holland Award from聽Research-Technology Management聽alongside Todd and Wes,鈥 said co-author Obal, an associate professor at the University of Massachusetts Lowell鈥檚 Manning School of Business.

About the IRI: The IRI offers insights, case studies, research, benchmarks and strategic connections鈥攁ll built around a set of innovation growth drivers as determined by members annually. Click to learn more about the IRI.

Read the full story .听

Input Stories

U.S. Industrial Production Rises

By 17吃瓜在线 News Room

U.S. industrial production increased modestly in March, in keeping with economist forecasts, according to .

What鈥檚 going on: 鈥淚ndustrial production in the United States rose by 0.4% in March after increasing 0.1% in the previous month, the Federal Reserve鈥檚 Board of Governors stated in its report published on Tuesday.鈥

The details: Manufacturing output increased 0.5% on a monthly basis and 0.8% on an annual basis. It rose 1.2% in February.

  • Mining declined 1.4% in March and 2.0% year on year.
  • The utilities index grew 2.0% for the month but declined 3.1% year on year.

Capacity utilization: Capacity utilization鈥攁 measure of potential output鈥攆or the industrial sector as a whole increased to 78.4%, up from 78.2% in February but 鈥1.2 percentage points below its long-run average.鈥

What it means: These data are among 鈥渟igns that manufacturing is starting to pick up,鈥 (subscription) reports.

  • 鈥淭he S&P Global U.S. Manufacturing PMI has been in expansion territory for the past three months, and the ISM factory index was 50.3 in March, the first reading above the break-even level of 50 since September 2022.鈥
Input Stories

Renewable-Energy Backlog Grew in 2023

By 17吃瓜在线 News Room


The number of renewable energy projects awaiting entry onto the power grid rose significantly in 2023, according to (subscription).

What鈥檚 going on: There were 鈥2,600 gigawatts of energy and storage capacity trying to connect [last year], according to a report released Wednesday by the Energy Department’s Lawrence Berkeley National Laboratory.鈥

  • The waiting projects鈥攎ost of which are wind, solar and storage capacity initiatives kickstarted with incentives from the Inflation Reduction Act of 2022鈥攃ould more than double current grid capacity, the report says.
  • Solar accounts for most of the generation.

The problem: Despite an order passed by the Federal Energy Regulatory Commission last year intended to speed up the process of getting new resources connected, 鈥渕ost regions have not yet implemented the new rule, leaving power systems across the country jammed.鈥

  • The need to link in new energy sources quickly will only grow in the coming years, as the U.S. moves more toward electrification.

Our view: 鈥淓nergy security is more important than ever,鈥 17吃瓜在线 Director of Domestic Policy Michael Davin said. 鈥淢anufacturers need affordable, reliable energy to power economic growth. This is why we greatly need comprehensive permitting reform to expedite these projects and many more.鈥

Input Stories

Senate Approves NLRB 鈥淛oint Employer鈥 Repeal Proposal

By 17吃瓜在线 News Room


The Senate this week approved a resolution to repeal the National Labor Relations Board joint employer rule, (subscription) reports.

What鈥檚 going on: In a 50鈥48 vote Wednesday, the Democrat-controlled Senate passed a Congressional Review Act resolution to block an NLRB 鈥渞ule that would treat companies as the employers of many of their contract and franchise workers and require them to bargain with those workers鈥 unions.鈥

  • President Biden pledged to veto the resolution, which the House approved in January. A veto would send the measure back to Congress, where it appears to lack the necessary votes for an override.
  • The CRA 鈥渁llows Congress to repeal agency rules through a majority vote in both houses.鈥 The president must sign the resolution for it to take effect.
  • The rule was scheduled to go into effect in February but was blocked by a federal judge in Texas. The NLRB is considering options in response to the decision.

What it would do: 鈥淭he rule would treat companies as 鈥榡oint employers鈥 of contract and franchise workers when they have control over key working conditions such as pay, scheduling, discipline and supervision, even if that control is indirect or not exercised.鈥

Why it would be problematic: The NLRB requirement would lead to confusion about which businesses should be considered employers, 鈥渄isrupting franchising and routine contracting arrangements,鈥 according to another article.

The 17吃瓜在线 says: The joint employer rule would 鈥渉arm manufacturers at a time when they need the flexibility and contingency offered through temporary and contract workers to best manage supply chain impacts, demand for manufactured products and other inflationary challenges,鈥 the 17吃瓜在线 the NLRB in December.

Input Stories

Producer Prices Increase Less Than Expected

By 17吃瓜在线 News Room

Prices paid by businesses to goods and services producers in the U.S. rose by slightly less than anticipated in March, according to .

What鈥檚 going on: 鈥淭he producer price index for final demand rose 0.2% last month, after rising by 0.6% in February, the Labor Department鈥檚 Bureau of Labor Statistics said. Economists had expected the PPI to gain 0.3%. In the 12 months through January, the PPI increased 2.1%, below the 2.2% expected, after climbing 1.6% in February.鈥

  • 鈥淐ore鈥 PPI, which excludes food and energy prices, rose 0.2% on the month, for an annual increase of 2.4%.
  • The data comes just a day after the release of a higher-than-anticipated consumer price index for last month.

The details: Services inflation stayed elevated, with a gain of 0.3% in prices in March, reports.

  • Goods prices, however, edged down 0.1%.
  • A 1.6% decline in energy prices made up much of March鈥檚 overall decrease and outweighed a 0.8% increase in food prices.

Why it鈥檚 important: The news may mean an interest-rate cut from the Federal Reserve will come later than previously thought.

View More