On 17th February , the United States President Obama signed a package of economic stimulus plan, which cost 787 billion U.S. dollars. After a announced of an array of housing rescue plan, which is the maximum cost will reach 275 billion U.S. dollars made on February 18, the U.S. chemical industry, especially the plastics industry officials have applauded.
American Chemistry Council (ACC) said that it is very pleased that stimulus package that includes energy efficiency and renewable energy investment, which will drive the demand for chemical products. ACC noted that within the next 24 months it is good to conducive to insulating materials, sealants, polyethylene and other synthetic resins and chemicals and other areas of electrical and electronic manufacturers by improving energy efficiency investments. ACC also noted that the chemical industry will also benefit from the stimulus package of renewable energy projects. Not only because of the blades of wind power needs of a variety of chemicals, but also solar panels, lithium-ion batteries and photovoltaic technology, production processes and end products will use parts chemical products.
U.S. construction industry officials say the economic recovery plan will help to promote the implementation of new infrastructure projects, such as roads, bridges, airports and seaports. Besides, the maintenance and improvement of schools and water treatment plants. All of which will stimulate the right needs of synthetic resin chemicals and so on.
Plastics Industry Association (SPI) is very excited on the tax reduction of stimulus package. SPI CEO, William Carteaux, said the plan aimed at strengthening consumption and increased the space of depreciation for budget, which makes SPI members can quickly adjust the task of procurement. The plan also expanded the scope of pre-shift for the net operating losses offset, that is to say, the enterprise can expand the range of offset taxes paid the previous year by passing a particular part of the loss to add to the previous year accounts range. This revenue compensation measures will increase the short term financial liquidity of small size companies. We hope that future legislation could expand the scope of application of this provision, so that all sizes of enterprise can benefit from it." William Carteaux pointed out that there is a very important message that the construction, automotive and other industries, which the plans support are consumers in plastics industry. In addition, there are about 135 billion U.S. dollars expend will be used for the basis of facilities and commercial projects in order to promote recovery in the U.S. construction industry. While the construction is a key downstream markets of chemical and plastics industry, Carteaux added: "We have found a breakthrough point in stimulus plan, that is, plastic pipe will be benefited from the housing rescue plan."