Energy efficiency included in U.S. financial bailout package; NEMA likes it

With energy efficiency and renewable energy provisions in the legislation, the National Electrical Manufacturers Association (NEMA) today praised Congressional passage of the Emergency Economic Stabilization Act of 2008, H.R. 1424; President Bush signed it into law.<br/>

10/03/2008


NAM expresses support

In his role as business owner, a director of the National Association of Manufacturers (NAM) , and chairman of the Illinois Manufacturers Association (IMA), Ron Bullock and 12 other business leaders met with President Bush at the White House yesterday to personally discuss the state of the economy and the vital importance of the passage of the pending Economic Rescue Package by the House.

Bullock, owner and Chairman of gearmotor manufacturer Bison Gear & Engineering Corp ., expressed concern for how tightening credit markets affect not only the ability of his customers to buy Bison products they incorporate into the equipment they build, but also how his customers' customers were finding it difficult to finance the new equipment, in addition to the difficulties Bison Gear might face in its growth plans and the security of its 275 employees, according to an announcement from that company.

"At Bison Gear, we always put lubrication in our gearboxes -- otherwise, gears would seize and stop working," said Bullock. "Capital and credit are lubrication for the financial markets, and we need to get them smoothly flowing again."

"The credit markets are in turmoil. Even healthy companies with solid balance sheets and order backlogs cannot obtain the routine financing they need to meet payroll and expand productive capacity," said NAM president, John Engler.

Rosslyn, — With energy efficiency and renewable energy provisions in the legislation, the National Electrical Manufacturers Association (NEMA) today praised the House of Representatives for passing the Emergency Economic Stabilization Act of 2008, H.R. 1424, by a vote of 263-171. House passage follows action by the Senate on Oct. 1, which approved the legislation on a vote of 74-25. The package now goes to the President for his signature. President Bush signed the package into law later that day, Oct. 3 .]
Read more about Control Engineering energy efficiency .
Included in the rescue package are provisions lobbied by NEMA throughout the year that impact deployment of energy efficiency and renewable energy technologies. In September, NEMA president and CEO, Evan R. Gaddis, called on Congressional leadership to put partisan bickering aside and pass the energy tax provisions prior to Congress adjourning for the fall elections.
The energy and renewable tax provisions include:







“I am extremely happy with the action Congress has taken today,” Gaddis said. “Not only did Congress pass a critical economic rescue plan, but it also provided a stimulus to our economy by extending many energy tax incentives that will support construction, contracting, and manufacturing jobs. Many of the incentives contained in the legislation provide the private sector the needed longer-term certainty for business investment and planning, rather than past one-year patches that NEMA companies have been struggling to optimize. Members of congress felt tremendous pressure to pass this legislation, and this pressure can be attributed to many of the NEMA companies that contacted their elected officials to voice support of these critical tax incentives.”
Also read:

NEMA applauds passage of anti-counterfeiting legislation

.

– Edited by  Mark T. Hoske , editor in chief
Control Engineering News Desk
Register here and scroll down to select your choice of eNewsletters free .





No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Robotic safety, collaboration, standards; DCS migration tips; IT/OT convergence; 2017 Control Engineering Salary and Career Survey
Integrated mobility; Artificial intelligence; Predictive motion control; Sensors and control system inputs; Asset Management; Cybersecurity
Big Data and IIoT value; Monitoring Big Data; Robotics safety standards and programming; Learning about PID
Featured articles highlight technologies that enable the Industrial Internet of Things, IIoT-related products and strategies to get data more easily to the user.
This article collection contains several articles on how automation and controls are helping human-machine interface (HMI) hardware and software advance.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me