Another thing our elected officials do not understand is that such compliance costs need to be recovered and this is usually done through a company reducing its employment numbers.
No elected official intentionally wants to hurt their constituents and possibly drive new operations to other countries. Sadly, that happens more frequently that you might think.
Not An Uncommon Occurrence
The elected officials we visited with in Washington were not only unfamiliar with the Conflict Minerals provision within Dodd-Frank, they were shocked to learn about the cost to businesses for compliance. That, by the way, is not an uncommon occurrence with legislation and regulations.
Similar future situations need to be averted, and that can be helped along with more direct contact with elected officials.
Make appointments in your local offices or in Washington to see your elected officials. Better yet, invite them to visit your business. Take it from me, if you ask, they will make the time for visits.
Talk with them about how your business runs and how certain laws and regulations can impact your ability to grow your employment in their states and districts.
This is really the way our system was designed to work. Our elected officials work for us, and they need to be vigilant on behalf of the employers in their areas.
Tim Kraus is the president and chief operating officer (COO) of the Heavy Duty Manufacturers Association (HDMA). www.hdma.org. Prior to joining HDMA, he served in various executive positions with heavy duty industry parts manufacturers. HDMA exclusively serves as the industry voice of the commercial vehicle product manufacturers. It is a market segment affiliate of the Motor & Equipment Manufacturers Association (MEMA). www.mema.org.
HDMA is the premier trade association for NAFTA based manufacturers who supply parts to the on-highway, agricultural, construction, military and mining heavy vehicle sector.