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Wed January 21, 2015

Kimberly Coghill 
Tel: 202-974-5210  | KCoghill@plasticsindustry.org

January 21, 2015

Industry Raises Concern about Some Tax Policy Proposals Noted by Obama

WASHINGTON - William R. Carteaux, President and CEO of SPI: The Plastics Industry Trade Association, released the following statement in reference to President Barack Obama’s State of the Union address delivered Tuesday, Jan. 20, 2015.

“Like many of you, I was pleased when President Obama highlighted America’s positive economic growth during his annual State of the Union address last night. The declining unemployment rate and more affordable gasoline prices boost consumer confidence, therefore creating a more favorable overall environment for business.  The plastics industry continues to expand because of professionals who invest financial and human resources into new technologies and advancements that enable us to be competitive.

“While Washington is usually associated with challenging gridlock, we are hopeful that the President’s promise to reach across the aisle will be a reality during the 114th Congress.  Many of our industry’s most important issues are ripe for bipartisan solutions in 2015.  Among them is continued access to natural resources that provide not just the power to run our facilities, but also constitute our primary supply of raw materials.  Other key priorities include a long overdue update to the Toxic Substances Control Act (TSCA) to ensure that chemical regulation takes a risk-based approach going forward, modernization of America’s antiquated tax code and action on multi-lateral trade agreements that break down export barriers.  

“Importantly, where consensus cannot be reached, we will continue to defend our industry from ill-advised legislative and regulatory proposals.  We are troubled by some of the President’s tax policy proposals outlined last night, particularly those that could deter investors from risking capital, and others that would negatively impact family-owned plastics industry businesses.  We will also continue to respond vigorously to attempts at regulatory overreach.  There simply must be an enhanced focus on science-based decision making by plastics industry regulators.

“SPI has a world-class advocacy team that is deeply committed to representing the plastics manufacturing industry.  We were on Capitol Hill when 13 new senators and 58 new members of the House took the oath of office earlier this month, and the sense of urgency in tackling the nation’s priorities was tangible.

“We appreciate support from our members as we proudly advocate for an ever-brighter future for us all,” he said.

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Founded in 1937, SPI: The Plastics Industry Trade Association promotes growth in the $427 billion U.S. plastics industry. Representing nearly one million American workers in the third largest U.S. manufacturing industry, SPI delivers legislative and regulatory advocacy, market research, industry promotion and the fostering of business relationships and zero waste strategies. SPI also owns and produces the international NPE trade show. All profits from NPE are reinvested into SPI’s industry services. Find SPI online at www.plasticsindustry.org and www.inthehopper.org.

"From resin suppliers and equipment makers to processors and brand owners, SPI is proud to represent all facets of the U.S. plastics industry," said William R. Carteaux, president and CEO, SPI. "Our most recent economic reports show that the plastics industry as a whole is resilient, and has come through the recession significantly better than other U.S. manufacturing sectors."

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