Job creation is a top issue for many people and Representative Ron Kind says he has been working on a number of job creation incentives, which he says will lower taxes on employers, put money in the hands of the consumers, and invests in education and infrastructure.
The Rebuilding American Manufacturing Act, Rep. Kind says, is to create a new section of the tax code to promote American manufacturing by reducing the effective tax rate of domestic manufacturers to 20%.
“So in essence, it says ‘Listen. If you’re business and you’re going to make something, create, grow or invent something here in the United States, you’re going to get a tax preference for doing it to help you be more competitive globally and to encourage to keep those jobs here.”
Another tax incentive is the Rural Microbusiness Investment Credit Act. This is to allow a business-related tax credit for 35% of new investment in a rural business that employs up to five full-time employees in a financially distressed area. Rep. Kind says that this is to help create jobs in rural communities and to spur economic growth there.
“It’s that upfront, it’s that early stage capital that’s the lifeblood of these entrepreneurs and small businesses and without it, it’s hard for them to even get going.”
Rep. Kind also says that there needs to be a seven year extension of the Export-Import Bank. The Export-Import Bank of the United States is the official export credit agency of the United States, and the House of Representatives only reauthorized the bank till June 30th of next year. The bank’s mission is to assist in financing the export of U.S. goods and services to international markets. Rep. Kind says it enables U.S. companies — large and small — to turn export opportunities into real sales that helps to maintain and create U.S. jobs and contribute to a stronger national economy. He says nations around the world have something like the Export-Import Bank and he doesn’t want U.S. businesses to compete globally on “an unleveled playing field” if there isn’t a long term extension for the bank.
Rep. Kind also talked about a long-term investment in the Highway Trust Fund to rebuild America’s infrastructure. It’s part of Kind’s long term transportation plan to boost Wisconsin’s economy. According to a 2013 American Society of Civil Engineers report, 71% of Wisconsin’s roads are in “poor or mediocre” condition and 1,157 bridges are “structurally deficient.” The nation’s infrastructure as a whole received a “D” grade. And the transportation research group TRIP estimates that the average driver pays $377 every year in additional car care as a result of driving on roads that need repair.
“This is the foundation that we need to build for strong long-term economic growth. We need a strong infrastructure system. We need the jobs, let’s do it now.”
Rep. Kind faces opponent Tony Kurtz in the upcoming election for the 3rd Congressional District of Wisconsin. There will be a debate in La Crosse between the two on Monday, October 27th. It will be held in the Port O’ Call Room at the Cartwright Center on the University of Wisconsin-La Crosse Campus.