In President Barack Obama’s recent State of the Union address, he said: “We will not go back to an economy weakened by outsourcing, bad debt, and phony financial profits." He pointed out that for the American economy to be built to last, it has to bring manufacturing back. How he planned bring the revival of American manufacturing about is by proposing a set of tax credits that would incentivize companies who choose to operate in the country and employ Americans....
Read more …In President Barack Obama’s recent State of the Union address, he said: “We will not go back to an economy weakened by outsourcing, bad debt, and phony financial profits." He pointed out that for the American economy to be built to last, it has to bring manufacturing back. How he planned bring the revival of American manufacturing about is by proposing a set of tax credits that would incentivize companies who choose to operate in the country and employ Americans.
"It's time to stop rewarding business that ship jobs overseas, and start rewarding companies that create jobs right here in America," Obama said. "If you are an American manufacturer, you should get a bigger tax cut. If you are a high-tech manufacturer, we should double the tax deduction you get for making products here. And if you want to relocate in a community that was hit hard when a factory left town, you should get help financing a new plant, equipment, or training for new workers," he said.
Moreover, Obama said that the government would draw up other measures that would make it easier for American businesses export their products globally.
