|FOR IMMEDIATE RELEASE
Budget Should Support Rather Than Punish Businesses Still Reeling from Economic Turmoil
Arlington, VA – Today, National Association of Chemical Distributors (NACD) President and CEO Eric R. Byer issued the following statement expressing concern about many provisions included in the U.S. House of Representatives’ Budget Reconciliation Package.
“Last month, both chambers of Congress passed a resolution outlining the budget and instructing key committees to draft the $3.5 trillion plan for new spending. Now, as details of the House version of the Reconciliation Package emerge, NACD has serious cause for concern. The Committee on Ways and Means has proposed more than 40 separate tax increases, collectively worth more than $2 trillion, representing the largest tax increase in decades. In a move that seems irrelevant to the budget discussion, the House package also greatly increases civil penalties for National Labor Relations Act violations while simultaneously eliminating or prohibiting tools employers can utilize during organizing campaigns and labor disputes.
“As America energizes around the call to ‘Build Back Better,’ we urge Congress to ensure the policies it recommends do just that and help to create a stronger America. Unfortunately, the provisions in the House Reconciliation Package are sure to hurt many of the very people it is purporting to help, those who have put their blood, sweat, and tears into creating and sustaining businesses and who contribute to the economic and social fabric of their neighborhoods, cities, states, and country.
“Chemical distributors are an integral part of the chemical sector and the entire U.S. manufacturing supply chain because of the essential services and products they provide. While chemical distribution is big business, the majority of NACD members are small businesses, many of which are still feeling the effects of the economic downturn from the pandemic and its aftershocks on the supply chain. They can ill afford more fees, fines, taxes, and turbulence. What both sides of the aisle can certainly agree upon is that our country is in desperate need of a physical infrastructure plan that will pave the way for the future and I urge the House to reconsider this performative play.”
NACD and its over 400 member and Affiliate companies are vital to the chemical supply chain providing products to over 750,000 end users. NACD members are leaders in health, safety, security, and environmental performance through implementation of Responsible Distribution, established in 1991 as a condition of membership and a third party-verified management practice. NACD was established in 1971 and is celebrating its 50th anniversary this year. For more information on NACD and how the association is Celebrating 50 Years, visit www.nacd.com.