Steel Caucus gets earful at hearing on US manufacturing

Apr 20, 2012 | 05:19 PM | Lisa Gordon

Tags  Congressional Steel Caucus, hearing, U.S. manufacturing, government regulation, China currency manipulation, business tax credits, military steel, Allegheney Technologies EQT

PITTSBURGH — America needs to promote and protect its manufacturing base if it is to encourage investments and create prosperity, a group of industry leaders testified before a Congressional Steel Caucus hearing held in Pittsburgh Friday.

Issues topping the hearing agenda ranged from government regulation and Chinese currency manipulation to revising a rule governing the use of domestic steel for U.S. military applications, and business tax credits.

Rep. Tim Murphy (R.-Pa.), who organized the hearing, expressed concern that overregulation of the Marcellus Shale industry would lead to higher electricity rates for mini-mills and potential blackouts. More than 10 federal agencies are seeking regulatory authority, he said.....

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