One way that American innovation can translate into market success is through our manufacturing sector. Despite much political hand-wringing about the challenges facing American manufacturing, the fact is that American manufacturing is strong and growing.
In March, America's manufacturing sector experienced its 32nd straight month of growth. According to the National Association of Manufacturers, the U.S. remains the world's largest manufacturing power: We produce 21 percent of global manufacturing, compared to just 15 percent for China.
Congress must act to ensure the continued success of American manufacturing -- not just for the benefit of manufacturing businesses or workers, but for the success of our economy at large. As the director of the president's National Economics Council, Gene Sperling, recently put it, "Economic studies have shown that there are clear and measurable spillover benefits from manufacturing activity that benefit the locations and particular nations that house such manufacturing activity.... Manufacturing matters; manufacturing promotes the innovation and productivity that will keep America on the cutting edge."