From Trade Reform.Org
Congresswoman Debbie Halvorson (D-Illinois) understands that America’s economic prosperity depends on the success of our manufacturing sector. Over the last few decades millions of American manufacturing jobs have moved overseas. We need to jumpstart our nation’s manufacturing sector with policies that will create new, good-paying manufacturing jobs here in America.
Halvorson’s plan to boost American manufacturing:
Implement a National Strategy for Manufacturing
Halvorson is a co-sponsor of the National Manufacturing Strategy Act (H.R. 4692), legislation she is working to pass that would direct the President to submit a National Manufacturing Strategy to Congress every four years. The plan would include legislative proposals to train the manufacturing workforce, boost productivity, incentivize growth, and create new jobs.
Modernize Workforce Investment Programs
Halvorson believes with the proper training, American workers can outperform foreign competitors. Unfortunately, too many of our workers are not trained in the skills needed to compete in a rapidly changing global economy. This is why Halvorson co-authored and introduced the AMERICA Works Act (H.R. 4072), legislation to modernize federal workforce training programs to better prepare participants for high-tech jobs in the manufacturing sector.
Halvorson has heard from manufacturing employers that we must do more to provide educational options for our youth for careers in manufacturing. She is working with manufacturers to fight for increased investment in K-12 career and technical education, as well as in STEM (science, technology, engineering, and math) education.
End Unfair Trade Practices
Halvorson is fighting unfair Chinese trade practices that put American manufacturers at a competitive disadvantage. For years China has undervalued its currency, which allows Chinese producers to sell its goods in the U.S. market at artificially low prices, undercutting American manufactures. Halvorson is a co-sponsor of the Currency Reform for Fair Trade Act (H.R. 2378), legislation that will respond to countries that manipulate their currency by accounting for their artificially low costs.
Halvorson is also fighting to ensure the U.S. government purchases goods manufactured in America. She is a co-sponsor of the Reciprocal Government Procurement with China Creates American Jobs Act (H.R. 5312), which will limit the U.S. government from purchasing goods made in China until the Chinese government allows procurement of goods made in the United States.
Tax Incentives for American Manufacturing and Clean Energy
Tax Relief for Manufacturers: Halvorson has led the way in sponsoring legislation that incentivizes manufacturers to make capital investments. Halvorson introduced the Bonus Depreciation and Enhanced Expensing Extension Act (H.R. 4311), legislation that extends tax incentives that allow manufacturers to more quickly recover the cost of purchasing new equipment and machinery. Provisions from Halvorson’s bill were signed into law by the President and are already in effect. Halvorson is also proposing additional investment tax credits that allow manufacturers to immediately deduct the cost of new equipment and machinery purchases.
Tax Incentives for U.S. Expansion: Halvorson is also proposing new federal tax incentives through the Economic Development Agency for manufacturers that choose to expand a current facility or open a new facility in the United States instead of overseas. These incentives will match state and local incentive packages.
Clean Energy Tax Credit: Halvorson supports the Security in Energy and Manufacturing Act (H.R. 5041), which extends a tax credit for investments in clean energy manufacturing projects. The tax credit gives priority to projects that manufacture (not just assemble) clean energy components in the United States.
Mechanical Insulation Tax Credit: Halvorson authored the Mechanical Insulation Installation Incentive Act(HR 4296), a 5-year tax incentive for non-residential building owners to install mechanical insulation above industry standards into new construction/retrofit projects to be more energy efficient. This bill will save $47 billion over 5 years in energy costs and support 89,000 jobs annually across the country.
Increase Access to Capital for Manufacturers through Loan Guarantees
Halvorson believes that small and medium sized manufacturers should have the resources they need to grow and hire new workers. With credit markets still very tight, many manufacturers are having difficulty accessing the capital they need to expand, even manufacturers with strong credit histories. Halvorson proposes the creation of a new loan guarantee program under the Department of Commerce that will guarantee private loans made to small and medium sized manufacturers who implement job creating expansion plans.
http://www.tradereform.org/2010/07/creating-the-next-generation-of-manufacturing-jobs/
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