Yea no. They are using 12 year olds in incredibly dangerous manufacturing sectors.
Since they don't want to pay higher wages in a competitive labor market, they instead start illegally using under-age labor, and throwing lobbying money at lawmakers so they can move on to legally hire underage kids.
They don't get to go to school. They get to work 9 hour shifts instead.
We all know why these laws need to exist, and attempting to role them back is the result of pure greed.