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News in North American Manufacturing

Senate Republicans Release Comprehensive Tax Reform Bill That Differs Substantially From House Outline

Senate Republicans Release Comprehensive Tax Reform Bill That Differs Substantially From House Outline

Sunday, November 12, 2017 - Republicans in the U.S. Senate released their comprehensive tax reform proposal on Thursday, Nov. 9. The bill differs substantially from the House’s tax reform outline, which was introduced two weeks ago. (Click here to read our summary of that legislation.) So how does the Senate bill address the priorities that Metals Service Center Institute (MSCI) members highlighted in a survey earlier this year and that MSCI outlined in its comments this past summer to leaders on the U.S. Senate Finance Committee? Let’s take a look: Marginal Tax Rates. MSCI’s comments said the organization’s members were willing to accept certain trade-offs in exchange for “substantial” cuts to...

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House Ways And Means Committee Passes Tax Bill After Altering Provisions For Pass-Through Companies

House Ways And Means Committee Passes Tax Bill After Altering Provisions For Pass-Through Companies

Sunday, November 12, 2017 - Last Thursday on a party line vote, the U.S. House Ways and Means Committee approved the chamber’s plan for comprehensive tax reform. The bill is very similar to the version House leaders introduced the week before and that small business advocates opposed due to its handling of pass-through income. (Some small business advocates believe that the House bill actually would result in pass-through companies paying higher tax rates than they do currently. Click here to read more from MSCI’s partners at the S-Corp Association.) The committee attempted to address those concerns by adding a lower nine percent tax rate on the first $75,000 in net business taxable income for all active owners or shareholders who...

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U.S. House Passes MSCI-Supported Joint Employer Bill

U.S. House Passes MSCI-Supported Joint Employer Bill

Sunday, November 12, 2017 - On Tuesday, Nov. 6 on a 242-181 bipartisan vote, the U.S. House passed H.R. 3441, the Save Local Business Act. This bill, sponsored by Rep. Bradley Byrne (R-AL), reverses the National Labor Relations Board’s 2015 Browning-Ferris decision, which made it easier to classify a business a joint employer and made businesses liable for any labor-law violations committed by a contractor or franchisee. As Politico explained, prior to Browning-Ferris, a business had to have “direct and immediate” control over the affected employees to be classified a joint employer. Browning-Ferris allowed a company to be held jointly liable even if it had indirect control. MSCI supported passage of H.R. 3441 and before the...

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MSCI Signs Letter Urging Confirmation Of EPA Nominees

MSCI Signs Letter Urging Confirmation Of EPA Nominees

Sunday, November 12, 2017 - Last week, the Metals Service Center Institute (MSCI) joined the Council of Manufacturing Associations to send a letter to U.S. Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Chuck Schumer asking that the chamber quickly consider Environmental Protection Agency (EPA) nominees. The letter explained: “The mission of the EPA is to protect human health and the environment. However, more than nine months into the new Administration, the EPA lacks Senate-confirmed Deputy and Assistant Administrators to carry out this mission. The EPA’s activities have a significant impact on each of our industries, the products we make or the services we provide, and the tens of millions of workers we...

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This Week's Top Economic Data Points: 6.1 Million Jobs Open In The United States

This Week's Top Economic Data Points: 6.1 Million Jobs Open In The United States

Sunday, November 12, 2017 - According to the U.S. Labor Department, the number of individuals who filed for federal unemployment benefits for the first time increased to 239,000 during the week that ended Nov. 4 from 229,000 the week before. The four-week moving average of first-time claims fell, however, and was at its lowest level since March 1973. The number of individuals who continued to file for benefits increased to 1.901 million for the week that ended Oct. 28 from 1.884 million the week before. The four-week moving average of continuing claims declined and is now at its lowest level since January 1974. In other employment-related news: there were 6.1 million jobs open in the United States in September 2017. 

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