Tax Credits for U.S. Manufacturers: Something We All Can Agree On?
We've long argued that bolstering American manufacturing and creating jobs is a bipartisan issue, and an article on Rep. Paul Ryan, a Repuiblican from Wisconsin's 2st District only confirms this argument.
Rockford Register Star reporter Chuck Sweeny interviewed Ryan in May. Sweeny writes, "I talked to him how he would revive the American manufacturing economy, which I believe is the only way to create real wealth. Ryan’s district has lost thousands of factory jobs, most notably the Janesville GM plant, which is a mile from his house."
“We need to change our tax system to make American manufacturers more competitive. We’ve got to get spending down, so we don’t prop up interest rates and tax rates to make it impossible to create jobs,” Ryan said.
“The problem we have now is that we live in a global economy, where 97 percent of the world’s consumers live outside this country. We’ve got to change our tax system to reward manufacturing that’s done in America. Let’s ‘border adjust’ our taxes by taking the tax off our exports and placing it on our imports. It’s legal, and it’s what our competitors do to us. And let’s give companies immediate expensing of plant and equipment so they can invest in American businesses and jobs.”
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