Cummins Urges Congress to Approve TPA
April 16 2015 - 3:52PM
Cummins Inc. (NYSE:CMI) commends the introduction of bi-partisan
trade legislation by Senators Orrin Hatch (R-UT), Ron Wyden (D-OR)
and Congressman Paul Ryan (R-WI) to update and renew Trade
Promotion Authority (TPA) and urges Congress to approve it. "The
United States is pursuing one of the most important trade agendas
in many years and we urge Congress and the President to work
together to enact TPA legislation as soon as possible," said Tom
Linebarger, Chairman and Chief Executive Officer, Cummins Inc., and
Chair, Business Roundtable International Engagement Committee.
"Trade Promotion Authority strengthens the hands of U.S.
negotiators and will help ensure the best possible outcome in our
global trade deals. These trade agreements provide enormous
benefits to the United States by increasing the number of consumers
for the products made by the employees of small and large
businesses throughout the U.S." Ninety-five percent of the world's
consumers live outside the U.S. and international trade already
supports more than one in five American jobs. U.S. job growth
between 2004-2013 was three times higher for trade-related jobs
compared to average job growth. And trade-related jobs pay 13 to 18
percent more than the average U.S. wage. "Creating opportunities
for American companies to reach customers through 21st century
trade agreements can help fuel our economy and keep the United
States globally competitive," said Linebarger. "Passing TPA as soon
as possible is critical to helping create new trade and growth
opportunities for the U.S. economy, supporting jobs for American
workers and farmers and strengthening communities across the United
States." International trade has been the most important driver of
growth and hiring at Cummins for more than a decade. Cummins
exported approximately $3 billion in U.S.-made engines, generators
and related products in 2014, and nearly half of Cummins' sales
were to customers outside the U.S. Cummins exports products
from plants in Columbus and Seymour, Indiana; Nashville, Tennessee;
Charleston, South Carolina; Fridley, Minnesota and Jamestown, New
York. Like most international companies, as Cummins grows globally
more quality jobs are added in the United States.
About Cummins
Cummins Inc., a global power leader, is a corporation of
complementary business units that design, manufacture, distribute
and service diesel and natural gas engines and related
technologies, including fuel systems, controls, air handling,
filtration, emission solutions and electrical power generation
systems. Headquartered in Columbus, Indiana, (USA) Cummins
currently employs approximately 54,600 people worldwide and serves
customers in approximately 190 countries and territories through a
network of approximately 600 company-owned and independent
distributor locations and approximately 7,200 dealer locations.
Cummins earned $1.65 billion on sales of $19.2 billion in 2014.
Press releases can be found on the Web at www.cummins.com. Follow
Cummins on Twitter at @Cummins and on YouTube at CumminsInc.
CONTACT: Jon Mills
Director, External Communications
(317) 658-4540
Jon.mills@cummins.com
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