Obama Proposes Reduction in Taxes to Boost American Manufacturing

The following are bullet points on Barack Obama's plan to "revive and strengthen" American manufacturing:

• Tax breaks to companies that create good-paying jobs right here in America.


• Invest $150 billion over the next ten years in clean/green energy.


• Provide domestic automakers with the funding they need to retool their factories and make fuel-efficient and alternative fuel cars.


• Invest $10 billion a year in creating a Clean Technologies Deployment Venture Capital Fund. This government-backed fund will help solve this problem by creating an initiative right here in Michigan that will accelerate the development and deployment of cutting-edge vehicle technologies.


• Creating an Advanced Manufacturing Fund that will invest in innovation and job creation in places that have been hard hit by the decline in manufacturing.


• Make the research and development tax credit permanent.


• Stop slashing funding for the Manufacturing Extension Partnership, and start doubling it.


• Help community colleges develop associate degree programs in green technology.


• Universal health care.

Obama also mentioned in his speech that the US auto manufacturers are suffering because their corporate boards and executives "invested in the SUVs and large trucks that may have helped meet a rising demand" instead of "the fuel-efficient cars of the future" and that "manufacturing supports one in six American jobs – jobs that pay more and offer better benefits than other jobs – and we all have a stake in saving them."

Source: http://my.barackobama.com/page/community/post/stateupdates/gGBlL3 .