NAM calls for $1.4 trillion COVID-19 resiliency fund

Photo: NAM

The National Association of Manufacturers is calling for additional aggressive actions from the federal government to help the industry respond to COVID-19 and future public health emergencies.

Among the additional actions in the updated and expanded “COVID-19 Policy Action Plan Recommendations,” NAM is requesting that the federal government create a manufacturing resiliency fund, which would include $1.4 trillion in loans to provide liquidity to manufacturers and small businesses to help protect the nearly 13 million men and women working within the industry and ensure their financial security. Manufacturers also are asking the government to adopt a federal designation that deems the manufacturing supply chain “essential” to help mitigate any interruptions in providing the supplies that are critical to the health and safety of America.

The document identifies five key legislative and administrative actions that would help combat COVID-19 and future public health emergencies:

• Recognize manufacturers’ critical role in the COVID-19 response
• Protect manufacturers from insolvency
• Ensure economic security for manufacturing workers
• Reduce regulatory burdens
• Set the stage for economic growth

NAM released its original action plan on March 9.