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OBAMA: These Are The 17 Things We Can Do To Grow The Economy
The White House has released the full economic blueprint that President Barack Obama will lay out in his State Of The Union speech Tuesday night.
The blueprint includes 17 proposals for public investment in manufacturing, education, clean energy, and infrastructure, which Obama argues will result in economic growth and strengthen the middle class.
Those proposals include:
- Bringing good manufacturing jobs back to America, by:
- Investing $ 1 billion investment in 15 Manufacturing Innovation Institutes, public-private partnerships between federal agencies, private businesses, universities, and community colleges that will help develop manufacturing technologies and capabilities. Obama is creating three of these by executive order.
- Ending tax breaks for companies that outsource jobs overseas, and implementing an “offshoring tax” that would set a minimum tax on overseas earnings.
- Expanding Department of Commerce’s efforts to promote investment.
- Increasing energy security though clean energy investments, by:
- Additional executive action to promote clean energy in federal agencies
- Make the renewable energy Production Tax Credit permanent and refundable.
- Establish an Energy Security Trust, funded by revenue from oil and gas development on federal lands, which would support clean-energy research.
- Creating an Energy Efficiency Race to the Top program for states
- A $ 50 billion investment in infrastructure, that would include:
- A “Fix It First” program to focus on urgent infrastructure repairs
- A Partnership to Rebuild America, aimed at increasing private investment in business infrastructure
- Rebuilding the housing sector by allowing homeowners to refinance at today’s rates and investing $ 15 billion in Project Rebuild to help communities recover from the foreclosure crisis
- Launch talks on a comprehensive trade agreement with the European Union
- Invest in science and technology
- Invest in early childhood education by supporting state efforts to provide pre-school access to low-and-moderate income children.
- Investing in education, by:
- Creating a Master Teacher Corps of STEM educators
- Redesigning high schools, rewarding schools that develop new partnerships with colleges and employers, and reforming federal investment in career education
- Support the $ 8 billion Community College to Career Fund
- Holding colleges accountable for cost, value, and quality with a new College Scorecard
- Immigration reform
- Ensuring veterans benefits, education, and job opportunitie
- Raising the minimum wage to $ 9 an hour
- Growing the middle class by partnering businesses with 20 hard-hit communities with Promise Zones, support summer low-income youth employment, removing financial deterrents for marriage, and supporting fatherhood
- Equal pay for equal work
- Making neighborhoods safer, by renewing the Violence Against Women Act and reducing gun violence
- A balanced approach to deficit reform, including Medicare reform
- Reduce the deficit by $ 4 trillion by closing tax loopholes for the wealthy and reforming corporate taxes
Read the full plan below: