IPC Welcomes US Economic Stabilization Package, Proposes Agenda for Economic Recovery and Resiliency in Electronics Manufacturing – GlobeNewswire

BANNOCKBURN, Ill., USA, March 25, 2020 (GLOBE NEWSWIRE) -- March 25, 2020 On behalf of electronics manufacturers in the United States and around the world, IPC thanks the U.S. Congress and the Trump administration for reaching agreement today on a $2 trillion economic stabilization package to address the fallout from the COVID-19 pandemic.

The federal government is taking unprecedented measures to help the U.S. economy weather and recover from the current global crisis, said IPC President and CEO John Mitchell. The $2 trillion stimulus bill will extend rapid financial relief to the businesses and individuals that need it most.

The White House and bipartisan leaders in Congress have agreed on legislation that includes the following provisions of interest to the electronics manufacturing industry:

As a next step, IPC is urging federal officials to take additional actions to support the electronics manufacturing sector and drive the nations economic recovery. Specifically, IPC urges U.S. Government officials to adopt measures in IPCs Roadmap to Economic Recovery, including:

Electronics manufacturing is as critical to the economy as the nervous system is to the body, said Mitchell. Although our industrys numbers will be depressed in 2020 and 2021, just like everyone elses, we believe electronics will be at the center of the recovery, because were at the center of the economy.

Electronics manufacturing supports more than 5.3 million U.S. jobs and drives more than $714 billion in U.S. GDP. Every single U.S. electronics manufacturing job supports three other jobs in the U.S. national economy, a strong multiplier effect.

For additional information, visit IPCs COVID-19 (coronavirus) resource page at http://www.ipc.org/coronavirus.

# # #

About IPC

IPC (www.IPC.org) is a global industry association based in Bannockburn, Ill., dedicated to the competitive excellence and financial success of its 5,800 member-company sites which represent all facets of the electronics industry, including design, printed board manufacturing, electronics assembly and test. As a member-driven organization and leading source for industry standards, training, market research and public policy advocacy, IPC supports programs to meet the needs of an estimated $2 trillion global electronics industry. IPC maintains additional offices in Washington, D.C.; Atlanta, Ga.; Miami, Fla.; Brussels, Belgium; Bangalore and New Delhi, India; Bangkok, Thailand; and Qingdao, Shanghai, Shenzhen, Chengdu, Suzhou and Beijing, China.

View original post here:

IPC Welcomes US Economic Stabilization Package, Proposes Agenda for Economic Recovery and Resiliency in Electronics Manufacturing - GlobeNewswire