With our economy sliding into recession, American workers and families need a president who will enforce our trade laws, stand up to special interests and fight to help create good, high-paying jobs here in the U.S. Over the past three months, our economy lost more than 140,000 private sector jobs. Indiana lost 9,0000 manufacturing jobs in the past year; and nearly one-in-seven manufacturing jobs since January 2001. At the same time, corporations have seen their profits grow at their fastest rate of an economic expansion on record, and unlike past expansion on record. And unlike past expansions, these record profits have not been shared. The typical Indiana household lost $2400 in income between 2000 and 2006 - nearly two-and-a-half times the decline for households nationwide.
Hillary believes that we need to restore balance to our economy by getting tough with our trading partners and putting the needs of working families first. Today, she highlighted her plan to help working families secure good, high-paying jobs here in the U.S. that cannot be outsourced.
Her plan includes:
* Making Trade Work for Working Families. Americans need a president who will fight for fair, pro-American trade policies that will not trap them in a race to the bottom. Low wages in other countries are costing America jobs and putting pressure on wages here at home. With approximately one quarter of our gross domestic product linked to international trade, we need smart, pro-American trade policies that help our workers and families. As president, Hillary will dramatically strengthen NAFTA's labor and environmental provisions; change it's investment provisions that grant special rights to foreign companies; strengthen it's enforcement mechanisms; and review NAFTA regularly.
* The only candidate with a detail, 4-part plan to fix NAFTA. As president, Hillary will dramatically strengthen NAFTA's labor and environmental provisions; change it's investment provisions that grant special rights to foreign companies; strengthen its enforcement mechanisms; and review NAFTA regularly.
* Demand strong labor and environmental provisions in all trade agreements.
* Appoint a new trade "prosecutor" and double the enforcement staff at the USTR so we can truly enforce our trade laws again, and get tough with countries like China for allowing the piracy of intellectual property.
* Crack down on China's currency manipulation. Hillary is a co-sponsor of legislation that will require the administration to take definitive steps to stop China and other countries from harming American interests by undervaluing their currencies.
* Implement a trade "timeout" to formulate a genuinely pro-worker and pro-American trade policy.
* Restoring a Strong, Vibrant Manufacturing Sector in America: Hillary believes that we cannot remain a great country with a strong economy if we don't make things in America. The loss of manufacturing jobs overseas threatens our economic future. And our dependence on foreign countries to manufacture equipment for our military needs threatens our national security as well. As co-chair of the Senate Manufacturing Caucus, Hillary understands the challenges and opportunities facing American manufacturing. As president, she will invest in processes and products that could lower costs, improve efficiencies, and create more U.S. manufacturing jobs. She will provide $20 billion in Green Vehicle Bonds to help American auto companies retool old plants to meet strong efficiency standards. And she will expand the Manufacturing Extension Partnership, which for a $100 million investment yields $910 million in new investments and trains or retrains 50,000 workers.
* Ending Tax Breaks for Companies that Ship Jobs Overseas, and Investing in Innovation and Job Growth in the U.S. As president, Hillary will take away tax breaks from companies that are sending jobs and production overseas and use those tax dollars to encourage job creation in the U.S. She would permanently extend the R&D credit to help attract R&D facilities and high-paying research jobs to the U.S. She would establish a national broadband strategy to enhance the competitiveness of communities across Indiana and America. And she would ensure that the U.S. continues to be an engine for innovation and cutting-edge technological breakthroughs by doubling the basic research budgets at the major federal agencies and tripling post-graduate research grants in math and science.
* Investing in Infrastructure to Create Good Jobs, Ensure our Safety, and Enhance our Economic Competitiveness. New Orleans and the Minnesota bridge collapse are stark reminders of our nation's failure to invest sufficiently in our infrastructure. Hillary's infrastructure plan would invest $10 billion in funding to help states review and repair their critical infrastructure; modernize seaports; expand funding for public transit and intercity rail; incentivize environmentally sensitive land use policies; and a reduce congestion. She is also co-sponsor of bipartisan legislation to create a national infrastructure bank that would evaluate and finance large infrastructure projects.
* Establishing a $50 Billion Strategic Energy Fund That Will Help Create at Least 5 Million Green Collar Jobs. In 2007, many of the largest oil companies recorded record profits, Exxon-Mobil recorded an annual profit of $40.6 billion, making it the most profitable corporation in history. Together, the five largest U.S. oil companies-Exxon-Mobil, Chevron, Conoco-Phillips, Valero and Marathon Oil- earned more than $75 billion in 2007- about $2,500 per second. Hillary's energy plan would give large oil companies a choice: invest more in renewable energy technology or pay into a Strategic Energy Fund to jumpstart clean energy research and the development and deployment of renewable energy technologies. These investments will lay the foundation for our economy to create at least 5 million high-paying green collar jobs over the next decade.
* Providing New Support to Help Small Businesses Create Good Jobs. At this time of economic uncertainty, small businesses are important than ever. They have accounted for 80 percent of net new jobs since 1990 and employ more than half of all private sector workers.
As president, Hillary will double funding for the Small Business Administration, which has been cut by 50% under the Bush Administration. Hillary will also provide new tax credits to small businesses to make it easier for them to create new jobs with health care for their workers here in the U.S.
Contributor: Jonathan Swain Communications Director for Clinton's Indiana Campaign
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