Clinton proposes tax incentives for struggling communities
Plan backed by higher taxes on the rich would bring back manufacturing jobs
SALEM, NH — Hillary Clinton announced the latest piece of her jobs agenda, outlining a plan to boost American manufacturing jobs by offering tax incentives to spur investment in communities that are losing jobs from factory closures and layoffs.
The campaign didn’t release a total cost for the plan, but Clinton, the Democratic Party front-runner in the 2016 presidential race, said she will pay for her jobs agenda by imposing higher taxes on the wealthy, closing loopholes and eliminating some deductions. Clinton plans to propose an “exit tax” to crack down on practices that allow US companies to merge with overseas corporations to lower their tax bills.
“This is not a new fight for me,” Clinton said during a town hall in New Hampshire. “When we support American manufacturing we support not only American jobs today but innovation for the future.”
Clinton’s jobs agenda, which she recently began rolling out, also includes plans to invest $275 billion to rebuild American roads, bridges and other infrastructure. Clinton’s focus on jobs for middle-class Americans comes as her chief rival, Vermont Sen. Bernie Sanders, focuses his campaign on raising American wages – and accusing Clinton of being too close to Wall Street and corporate interests.
Encouraging companies to reinvest in communities that are suffering from a loss in manufacturing jobs is at the centre of Clinton’s proposal. Her plan would allow communities facing job losses to apply for investment tax incentives aimed at attracting new capital and businesses.
Clinton’s plan would also expand public-private partnerships aimed at helping smaller manufacturers remain competitive and offer tax credits to businesses that train workers through apprenticeships.
Clinton says she’s focused on manufacturing jobs because they are often higher paying.