eiXtra: published by NEMA (Image) Hot Topics
On the Hill/Around the Nation
International News
Monday, July 23, 2012
feature story
NEMA Reiterates Call to Act on “Fiscal Cliff” Woes

Listen to What is the “fiscal cliff” and how will it impact our economy?
Listen to What is the
“fiscal cliff” and how will
it impact our economy?

Following Wednesday’s call for Congress to act on the pending “fiscal cliff,” the National Electrical Manufacturers Association (NEMA) underscores the fact that the nation faces risks by not acting expeditiously.

The nonpartisan Congressional Budget Office (CBO) projects that the fiscal cliff will cause the economy to dip into recession in 2013. CBO projects, however, that if these issues were completely resolved, the U.S. economy would add two million new jobs and GDP would grow 4.4 percent in 2013 alone.

“The CBO projections are astounding,” said Evan R. Gaddis, NEMA President and CEO. “They clearly describe the nature of the situation, and should prod Congress to act.”

“The risks of not eliminating this potential devastation are currently holding our country hostage,” said Gaddis. “This shadow is looming over individuals and corporations alike. It is time for our government to come together for America.”

The fiscal cliff is made up of annually appropriated defense and nondefense discretionary spending programs, taxes, and the debt ceiling deadlines. All three areas have a major impact across the U.S. economy. Addressing the fiscal cliff immediately and building out a roadmap for long-term debt stabilization will increase America’s economic footing and outlook.

Federal Reserve Chairman Ben Bernanke supported addressing these fiscal cliff issues in testimony before the Senate banking committee this week.

“The most effective way that the Congress could help to support the economy right now would be to work to address the nation’s fiscal challenges in a way that takes into account both the need for long-run sustainability and the fragility of the recovery,” said Bernanke. “Doing so earlier rather than later would help reduce uncertainty and boost household and business confidence.”

The eight deadlines that make up the fiscal cliff are:

  • Expiration of the Bush/Obama tax cuts
  • Automatic defense and nondefense cuts scheduled for 2013
  • Reaching the federal debt ceiling
  • A federal government shutdown if 2013 spending bills are not completed
  • Expiration of numerous “tax extenders” like the R&E tax credit
  • Expiration of the Alternative Minimum Tax fix
  • Expiration of Medicare “Doc Fix”
  • Expiration of the Payroll Tax Cut

Read more here.

NEMAcast podcast (Icon)NEMA podcast for the electroindustry.

NEMAcast focuses on news, information, and opportunities in the electroindustry. Listen online at podcast.nema.org. NEMAcast has several channels, each with a special focus on different parts of the electroindustry. Check out "What is the “fiscal cliff” and how will it impact our economy?."

We thank you for your cooperation in improving the quality of our materials.
Please contact Bill Green
at Communications@nema.org if you have any questions or suggestions related to eiXtra.

Hot Topics

Climbing the E-Biz Mountain Podcast Series: Segment 1
IDEA has introduced a 4-part podcast series featuring representatives from the 2011 Richard Buzun Award winners, Border States Electric and Cooper Industries. In this first segment, representatives from both companies discuss the first step to initiate a successful eBusiness project: grasping the big picture by developing a vision, goals, and determining priorities.
—Industry Data Exchange Association (IDEA)

3-D Printing Could Remake U.S. Manufacturing
About 20 miles east of Pittsburgh, the former heart of the nation's steel industry, a small company called ExOne is churning out a new generation of stainless steel boat propellers, oil pump parts and door knobs.
—USA Today

First Plugless Electric Vehicle Charging Stations Installed in U.S.
The first three installations of the plugless electric vehicle charging technology have been completed in the Apollo launch program. These installations, on Nissan LEAF vehicles, represent the first passenger electric vehicles in the world with full wireless charging capability.

Utilities Embracing Smart Thermostats to Help Manage Grids
American utilities are slowly starting to embrace using smart thermostats to help manage the energy consumption of their customers.

[ top ]
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

On the Hill/Around the Nation

Houston Company Building Compressed Air Energy Storage Plant
A compressed air energy storage plant stores energy in an underground chamber in the form of compressed air pumped in by electric motors powered by natural gas during non peak power periods.

NEMA Testifies in House in Support of Energy Efficiency Legislation
At a joint hearing of the Subcommittee on Energy and Power and the Subcommittee on Oversight and Investigations, members of the House Energy and Commerce Committee heard testimony on a discussion draft of the Smart Energy Act, sponsored by Rep. Charlie Bass (R-NH) and Rep. Jim Matheson (D-UT). 07/13/12
—National Electrical Manufacturers Association (NEMA)

[ top ]
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

International News

Michaels Speaks at International Occupational Health and Safety Conference
Assistant Secretary for OSHA Dr. David Michaels led the U.S. delegation to a Joint U.S.-E.U. Conference on Health and Safety at Work with delegates from the European Union, where he delivered a keynote address. An international group of labor representatives, employers, scientists and safety and health specialists attended the conference from July 11-13 in Brussels, Belgium, to develop strategies to improve conditions for workers on both sides of the Atlantic.
—U.S. Department of Labor

[ top ]
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • •


Industry News


Mergers & Acquisitions


  • IHS Names Daniel Yergin Vice Chairman
    Yergin is the author of two landmark books on energy: The Quest: Energy, Security, and the Remaking of the Modern World, a recent New York Timesbestseller, and The Prize, for which he received the Pulitzer Prize. 07/12/12

[ Industry News Archives ]


Standardizations Trends

[ NEMA News Archives ]

Global Intelligence

  • Fluorescent Lamp Shipments Dim During First Quarter
    NEMA’s shipment indexes for linear fluorescent T5, T8, and T12 lamps decreased during the first quarter of 2012 compared to the same period last year. T5 lamps showed the largest decrease, declining 7.9 percent, while T8s and T12s declined by 5.5 and 5.0 percent, respectively. 07/13/12
[ top ]

Market Comments by Tom Robinson
Tom Robinson, Ph.D., President Oppenheimer Asset Management, shares his take on the economy in a weekly column Market Comments, which is republished here each Monday. His column provides a quick summary of key economic data releases from the previous week as well as insight about likely developments in financial markets. read more...

Upcoming Events:

Eicareers.org: The Electroindustry Career Portal - powered by NEMA (Image)
Job Title Company Name
Electrical Engineer City of Durham, Water Mgt
School of Electrical Engineering and Computer Science Ecampus Instructor Oregon State University
Click here to view ALL job Listings
Event Calendar
July 2012
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31

Follow NEMA:

NEMA Media Guide 2012 - (Advertisement)

NEMA's Electrical Standards and Products Guide (ESPG) - (Advertisement)

NEMA's Vids for Grids

Subscribe to NEMAcast (Advertisement)

2012 National Electrical Manufacturers Association. eiXtra is a biweekly e-newsletter for electroindustry professionals summarizing key manufacturer, standardization, and regulatory news. NEMA does not sell or release subscriber's personal information and will never willfully disclose individually identifiable information to any third party without first receiving your permission. Privacy policy.
Follow NEMA: Facebook Facebook Twitter Twitter Blog Blog YouTube YouTube Podcasts Podcasts LinkedIn LinkedIn
NEMA on facebook NEMAupdates on twitter NEMACurrents Blog NEMAVue on youTube Subscribe to a NEMAcast podcast NEMA on LindedIn