From October 21, 2022 post.
Q: How important is manufacturing to the Iowa economy?
A: The manufacturing sector employs more than 200,000 Iowans whose labor and productivity produce a range of goods that keep the economy thriving and whose paychecks help pay the bills for Iowa families, circulate through the local economy and provide the economic base to fund public services. According to an analysis by Iowa State University, nearly 3,500 manufacturers in Iowa pump up the state’s economy by more than $33 billion, making it the second largest sector in Iowa. From farm implements to chemicals, fertilizers, transportation equipment, fabricated metals and food processing, Iowa manufacturing is one of the crown jewels of America’s heartland. We have a reputation for producing high-quality goods at competitive prices with a labor force that takes pride in its work. I meet with Iowans in each of Iowa’s 99 counties, at least once, every year. Among my favorite stops is visiting production facilities and seeing the products made in Iowa. I especially enjoy the Q&A with workers after the tour. I spent 10 years working on the factory floor myself to help make ends meet for my family and I want to hear what’s on the minds of workers today. Without a doubt, the number one concern I hear from Iowans is the high cost of living. The Consumer Price Index rose 8.2 percent in the year through September. The White House needs to stop using the federal treasury like a cash cow and restore American energy independence. A significant factor fueling higher costs is high fuel prices. It contributes to the soaring cost of food at the grocery store. When diesel costs nearly $6 gallon, it doesn’t take an economist to figure out why consumers are getting hammered. It takes fuel to plant and harvest the crops, move food from the field to the fork and consumer goods from the factory to the warehouse to store shelves. Inflationary pressures on inputs and raw materials compound the costs to operate and do business. This creates uncertainty for manufacturers. And the last thing Congress ought to be doing is raising taxes on the economic engine in our communities.
Q: What are Iowa manufacturers telling you?
A: During my 99 county meetings, I visit a number of manufacturers to learn more about their businesses and stay informed on their successes and challenges. From Dee Zee, Inc. in Des Moines to Geater Manufacturing in Independence, Winnebago Industries in Forest City and PS Manufacturing in Guthrie Center, I came away impressed with their resiliency and innovation. I was especially impressed with how Iowa manufacturers adapted to survive the challenges of the pandemic, from labor shortages to supply chain disruptions and the 40-year high inflation and rising interest rates coming out of it. What I’m hearing from Iowans and manufacturers is loud and clear: energy prices are emptying people’s wallets and eating into the bottom lines of businesses. This feedback informs my work in Washington. I’ve called on the Biden administration to show its commitment to biofuels and increase blending obligations in all renewable fuels. As the former chairman of the tax-writing Senate Finance Committee, I helped steer into law the 2017 Tax Cuts and Jobs Act that helped U.S. manufacturers expand and invest in their people and operations. I’ll fight tooth and nail to keep these pro-growth tax provisions in the tax code. Last year, I voted for the bipartisan infrastructure legislation that renewed the federal highway bill and included investments in roads, bridges and broadband that will help Iowa’s economy for decades to come. I also support expanding Pell Grants to help workers obtain training and certification in skilled trades to improve their earning potential and fill job openings in our manufacturing sector. When people are working, our economy is working.
October is National Manufacturing Month.
Original source can be found here
