Kerry Unveils Plan to Create Manufacturing Jobs During Visit to NH Factory
Criticizes President Bush for Standing By While Jobs Are Lost
http://www.johnkerry.com/pressroom/releases/pr_2003_1021.htmlOctober 21, 2003
SALEM, NH -
John Kerry today unveiled an agenda to revitalize the manufacturing sector in America and bring back the jobs lost during the Bush Administration. During a visit to National Aperture, Inc. in Salem, New Hampshire, Kerry called for a new direction from the current Administration and a policy that include tax cuts to create manufacturing jobs, investment in research, development and new technology, better trade enforcement and help with rising health care costs.
“Of the more than three million jobs lost since this Administration took office, two and a half million have been in manufacturing. In New Hampshire alone, the toll has been one out of every five manufacturing jobs—vanished without a trace. Today, manufacturing employment is at a more than fifty year low,” said Kerry. “I believe manufacturing in America can come back and shine as never before. But it won’t happen with the failed policies of the past. We need a President with the courage to fight for our economic future.”
“Manufacturing employment has fallen each and every month of the Bush Administration. Month after month, the job losses roll on,” said Kerry. “The problem is not just that this President’s policies are unfair or that they have driven us back into the days to deficits, debt, and doubt. The problem is that his policies just haven’t worked. And George Bush isn’t facing up to it.”
John Kerry plan to restore and revitalize the manufacturing sector of our economy includes:
Providing New Tax Cuts to Create Manufacturing Jobs in America and Closing Loopholes that Reward Moving Jobs Overseas. Kerry proposed a new jobs tax credit that would refund the payroll taxes for two years for any new employees hired at a manufacturing company and closes loopholes giving tax incentives to move jobs offshore
Invest in Research & Development and Give Tax Incentives to Help Industries Upgrade and Better Train Manufacturing Workers Double funding for the Manufacturing Extension Partnership that helps small and mid-size manufacturers stay competitive. The Bush Administration has proposed a 90% cut.
Increase and Better Enforce Our Trade Laws to Assure America has a Level Playing Field
Provide Relief for Manufacturers that Provide Quality Health Care and Pensions.
JOHN KERRY OUTLINES COMPREHENSIVE PLAN TO RESTORE MANUFACTURING SECTOR
Criticizes President Bush for Standing By While Jobs Are Lost
Since the beginning of the Bush Administration, more than 2.5 million manufacturing jobs have been lost – an average of nearly 80,000 a month. The Bush Administration has not cracked down on countries that violate trade agreements or undermine American exports by manipulating their currencies. They have not stopped the incentives that encourage companies to move abroad. And thanks to their reckless fiscal policy, Japan and China are now the largest holders of U.S. debt, giving them more leverage over our economy. John Kerry is outlining a four point plan to revive manufacturing in the United States.
(1) TAX BREAKS TO ENCOURAGE MANUFACTURERS TO STAY IN THE U.S. AND TO CREATE NEW JOBS.
Stop Incentives to Move American Jobs Abroad. John Kerry will save jobs by ending the unpatriotic practice of U.S. corporations moving jobs offshore (known as inversions) to avoid paying their fair share of taxes and assure these inverters don’t get government contracts or any other perks or incentives from the government.
A New Manufacturing Jobs Credit. John Kerry supports the Crane-Rangel-Hollings legislation, which provides a corporate rate reduction to manufacturers who produce goods in the U.S. He has proposed a new jobs tax credit (payroll taxes for two years for additional hires) to encourage manufacturing companies to expand in America.
(2) STRONG ENFORCEABLE TRADE THAT WORKS FOR AMERICA.
Assure Trading Partners Play by the Rules. Some nations have consistently violated agreements by the World Trade Organization, such as taking unfair actions to block U.S auto companies from selling in their markets. This Administration has not used the available remedies to crack down on these violations and help U.S industries, John Kerry would.
Stop Countries from Manipulating Currency. John Kerry believes we must use the full force of the World Trade Organization to take on countries, such as Japan and China, that are manipulating their currency to undermine U.S. exports.
Enforce and Strengthen Intellectual Property Protections. In the 21st economy, the U.S. relies more heavily on international partnerships and joint ventures. Intellectual property protections are essential in this environment so that companies can share their technology without losing control of it.
Break Down Barriers in Key Export Markets. This Administration has done little to open key export markets in places like Japan and Korea. For example, auto exports to Japan are still essentially blocked by complicated rules. John Kerry would use the available tools, including Section 301 of the 1974 Trade Act, WTO remedies, and diplomatic measures to open these markets.
Review Existing Trade Agreements and Require New Agreements to Contain Labor and Environmental Standards. John Kerry will also order an immediate 120 day review of all existing trade agreements to ensure that our trading partners are living up to their labor and environment obligations and that trade agreements are enforceable and are balanced for America’s workers. He will consider necessary steps if they are not and he will not sign any new agreements until the review is complete. John Kerry will also not sign any new trade agreements unless they contain strong labor and environmental standards.
(3) ASSURE A STRONG MANUFACTURING SECTOR FOR THE FUTURE.
Tax Incentives and Subsidies to Develop Energy Efficient Products. Kerry will create hundreds of thousands of manufacturing jobs by investing in the new energy opportunities of the future. His plan provides tax credits and subsidies to manufacturers to develop new energy efficient automobiles and appliances.
Double the Manufacturing Extension Partnership (MEP). We know that the MEP helps make American manufacturers competitive. Yet this Administration has proposed to cut it nearly 90 percent. John Kerry has proposed to double funding for the MEP and he would make it easier for small manufacturers to get loans and encourage investment by getting rid of capital gains tax for equity investments.
Assure Better Training and Retraining Programs for Manufacturing Workers. To keep the manufacturing sector strong, America needs a workforce with cutting edge skills, training, and knowledge. Kerry would: (1) assure adequate Trade Adjustment Assistance to help workers transition; (2) encourage students studying high-tech fields to work in the manufacturing by repaying a portion of student loans if they do; and (3) encourage better math and science instruction in our schools.
(4) RELIEF FOR MANUFACTURERS THAT PROVIDE QUALITY HEALTH CARE AND RETIREMENT.
Supporting a Medicare Prescription Drug Benefit That Rewards Retiree Coverage. Kerry believes a prescription drug benefit should relieve employees from high drug costs by counting retiree coverage toward any cost-sharing. In the current benefit it does not.
Controlling the Cost of Health Care - Saving Workers Up to $1,000 on Health Care. We need to stop the spiraling cost of health care to assure our employers can stay competitive in the global economy and so families can afford health care. Kerry has proposed a new 'premium rebate' pool that will give employees up to $1000.
Cutting Greed to Bring Down Rx Prices. Pharmacy benefit managers (PBMs) process hundreds of millions of pharmaceutical claims, giving them lots of leverage. Kerry’s plan would require transparency rules to clearly show what PBMs receive from the industry.
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