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To urge their elected officials to stop sequestration, AIA members held more than 120 meetings with staff and members of Congress - including Senators Carl Levin (D-Mich.) and John Kerry (D-Mass.), and Representatives Frank Wolf (R-Va.), Tom Petri (R-Wisc.), Eric Cantor (R-Va.) and Allen B. West (R-Fla.).
The focus of these discussions was the potential impact of sequestration on suppliers. With the new impact study by Dr. Stephen Fuller of George Mason University as the backdrop, our member companies were prepared with impressive statistics shedding light on the importance of small businesses to the U.S. economy. The study, The Economic Impact of Sequestration on Small Business, highlighted that small business generates almost half of private sector jobs (64 percent of net new private sector jobs), 43 percent of high-tech employment, and one-third of U.S. exports. In addition, 35 percent of federal subcontracts are awarded to small businesses. Sequestration will put at risk over 950,000 small business jobs, nearly half of the total 2.14 million at risk if the cuts are not reversed.
During the Hill visits, AIA members heard from many members of Congress and their staffs that a solution to sequestration is possible. Our members were told that a majority of offices on Capitol Hill understand the negative implications of sequestration on the aerospace and defense industry. They were also told that there is a small possibility that there will be a broad “fiscal cliff” deal worked out in the congressional lame duck session in November and December. The outcome of the presidential and congressional races will likely define the scope of any solution.
AIA Source: michael.berger[at]aia-aerospace.org