Board Affirms Balanced Approach of Spending and Revenue is Only Feasible Solution
WASHINGTON, Nov. 16, 2012 /PRNewswire-USNewswire/ -- Meeting last week at the Association of Equipment Manufacturers (AEM) 2012 Annual Conference in Rancho Palos Verdes, California, the AEM Board of Directors established federal deficit reduction as its top policy priority headed into the new year. The Board joined the chorus of national business leaders calling for immediate bipartisan action to comprehensively solve our nation's debt crisis by adopting a balanced approach that addresses entitlement and discretionary spending, as well as revenue while making wise investments in infrastructure and education.
Upon adopting this position, Caterpillar Group President and AEM Chair Stu Levenick said: "America's equipment manufacturers have a diverse and substantive policy agenda aimed at driving economic growth – including transportation and energy infrastructure investment, progressive export policies and pro-growth tax reform. But we know that our hopes for real economic growth and progress as a nation could be derailed if we are not able to come together to solve the looming fiscal crisis. So AEM's Board of Directors unequivocally endorsed making fixing the debt our industry's top policy priority, and we are calling on lawmakers to take immediate and aggressive bipartisan action to adopt a balanced and comprehensive solution that addresses both the spending and revenue sides of the budget.
"The indiscriminate spending cuts and tax increases facing us now are not the way to deal with our nation's debt. Rather, thoughtful consideration needs to be given to investment priorities such as education and infrastructure as well as revenue measures that will provide for long-term economic growth and job creation. Together we have an opportunity to get our economy back on track and create a better environment for equipment manufacturers and businesses of every kind to grow and create jobs. All Americans need to come together and support a bold and balanced approach that will ensure a better future for today's generations and many to come."
Stu Levenick, group president of Caterpillar Inc., Peoria, Illinois, was elected 2013 AEM Chair at the Annual Conference on November 9. Levenick will lead the AEM Board of Directors to achieve AEM's 2013 goals, priorities and strategic direction. He served as Vice Chair in 2012.
About the Association of Equipment Manufacturers (AEM) - www.aem.org
AEM is the North American-based international trade group providing innovative business development resources to advance the off-road equipment manufacturing industry in the global marketplace. AEM membership comprises more than 850 companies and more than 200 product lines in the agriculture, construction, forestry, mining and utility sectors worldwide. AEM is headquartered in Milwaukee, Wisconsin, with offices in the world capitals of Washington, D.C.: Ottawa, Canada; and Beijing, China.
Sara Sendek, AEM
SOURCE Association of Equipment Manufacturers (AEM)