As Washington moves into an election year, news will quickly shift to focus on the latest from the campaign trail. Election years bring about unique challenges to those of us working to help U.S. composites manufacturers. The election will impact what we see coming out of the Biden Administration, the speed with which new policies or regulations move, and the willingness of Congress to cooperate with a White House they oppose. We can expect more tense negotiations between the White House and Congress, and the White House to move ahead numerous controversial items as it works to build support among voters before November.
Newly announced regulatory efforts are often part of the final year of any administration. This is in part to finalize their priorities while making a case to voters, but it is also an attempt to tie the hands of the next administration, should they lose the election. This year, this category includes a potential final Securities and Exchange Commission rule on climate disclosures for publicly traded companies.
First announced as a draft in March 2022, it is currently slated for finalization in April 2024. This rule could have broad impacts on ACMA members who sell to covered companies. Originally slated for completion in December 2022, this controversial regulation could quickly become a subject of lawsuits and a key topic on the campaign trail. ACMA will continue to monitor this proposal and keep our members up to date on any revisions and the timeline.
ACMA is also continuing to collaborate with our congressional champions on multiple pieces of legislation that will benefit composites manufacturers. This includes a range of legislation, such as broad tax legislation that would fix the tax rules around expensing R&D, a fix ACMA has been pushing Congress to enact for two years. We are also working to expand our ability to supply the U.S. Army Corps of Engineers and to strengthen the aviation market through the FAA reauthorization bill. At press time, the timeliness on these bills remains uncertain, but we hope we will see all three signed into law this year.
Lastly, we hope that you will reach out as issues arise. ACMA has been able to provide support on critical issues that were brought to our attention by our members on tax credits, Made in USA requirements and more. The ACMA government relations team is ready to provide assistance when possible.
Dan Neumann is vice president of government relations at ACMA. Email comments to dneumann@acmanet.org.
