Crane-Rangel Provides Incentives To Keep Manufacturing In U.S.
Mr. Speaker, last week, Vice President Cheney was in Dayton, Ohio, to try to argue for the President's economic budget plan, to try to justify the economic devastation that his administration's policies have wreaked on the American people.…
Mr. Speaker, last week, Vice President Cheney was in Dayton, Ohio, to try to argue for the President's economic budget plan, to try to justify the economic devastation that his administration's policies have wreaked on the American people. In Ohio alone, one out of six manufacturing jobs has simply disappeared since President Bush took office; 300,000 jobs have been lost in my home State of Ohio. That is 2,000 jobs a week have vanished; that is 260 jobs every single day in Ohio, jobs that have been lost every single day of the Bush administration.
Now, I wish that Vice President Cheney had been with me earlier this month. I was speaking to the Akron machine shop owners and operators; and before I spoke to this group, about 60 men and women who own small tool and die, fabricating machine shops, companies of 5 to 200 employees, a gentleman walked forward and handed me this stack of leaflets, pamphlets, and flyers. I did not initially know what they were. He explained, these are auctions, going-out-of-business, fire- sale equipment sales at plants all over the United States. For instance, auction, family facility closed, Medina, Ohio. Absolute auction, Cuyehoga Falls, no minimums, no reserves, high dollar buys regardless of price. Another going out, complete shop closeout auction, Marion, Ohio. High-tech manufacturing plant closing, Chicago, Illinois. Large capacity fabricating machine shop closing, Hingham, Massachusetts. Two complete stamping machine tool shops going out of business, 2-day auction, Northbrook, Illinois. Precision CNC Job Shop, Scottsboro, Alabama.
The problem is, Mr. Speaker, I do not think President Bush and Vice President Cheney, I just do not think they see this. I think that the people who run our government seem so out of touch with what is happening to manufacturing in this country, what is happening to employment in this country, what is happening to our economy. Every time they hear bad economic news, they have two answers. One is tax cuts for the most privileged in society with the hope that some of it will trickle down to the rest of society, and the other answer is trade agreements, more North American free trade agreements, NAFTA-like trade agreements that continue to ship jobs overseas, that continue to hemorrhage manufacturing jobs in this country.
From the President and Vice President, that is always the response. It is tax cuts, trickle down economics, tax cuts for the most privileged, and trade agreements that ship jobs overseas. But now there seems to be a third answer that some Republican legislative leaders have brought forth.
I would cite from CNN. Paula Zahn asked the question of one Republican leader, saying, Why have 2.5 million jobs been lost during the Bush administration; and this Republican leader said, Well, Paula, in this 21st-century economy, jobs that are not reflected in the establishment payroll survey take on different forms. Then he went on to say, this is a leader in the Republican Party in the House, There are 430,000 Americans who make their full-time living selling on eBay.
That is not in any way reflected in the numbers.
So the Bush administration's answer has been tax cuts for the most privileged and trickle down economics, trade agreements, and now I guess they are saying that jobs on eBay are making a difference. I do not think those jobs are paying health care benefits. I do not think those jobs are the kind of jobs that we want to build our economy on.
Unfortunately, Mr. Speaker, the leaders in this government are so out of touch with economic reality in this country, instead of tax cuts for the most privileged and trickle down economics, instead of trade agreements that ship jobs overseas, instead of relying on eBay as an engine of economic growth, this Congress needs to pass the bipartisan Crane-Rangel bill. It rewards those companies with tax incentives who manufacture in the United States and, at the same time that, in essence, penalizes those companies
that ship jobs overseas, those companies that move offshore to the Bahamas, continue to get government contracts, and avoid taxes in the United States; those companies like Halliburton, which get billions of dollars in unbid contracts, yet end up oftentimes with their subsidiary avoiding taxes, while continuing to pay the Vice President of the United States $3,000 a week. That is not good economic policy. Our incentives should be given to those companies that manufacture in the United States, that provide jobs for American workers, not the kind of plans that the President of the United States has thrust on the American people.
Mr. Speaker, this job loss, this erosion of our manufacturing base must be turned around, not with old tired solutions, but with aggressive incentives to keep manufacturing in this country.