U.S. Senator Susan Collins today introduced a "7-Point Jobs Plan" which outlines a path for Congress to follow that would lead America to a strong recovery from the worst economic recession since the Great Depression.
Senator Collins' 7-Point Jobs Plan is aimed at creating jobs, investing in education and training, assisting small businesses, reinvigorating American manufacturing, and eliminating bureaucratic red tape.
"This plan is based on extensive conversations I have had with small business owners and workers in Maine," said Senator Collins in introducing her legislation on the Senate floor today. "Our economic recovery will come from the innovative and bold job-creators of America's small business community. My 7-Point Jobs Plan offers a straightforward way for Congress to lead at this critical juncture."
Highlights of Senator Collins' 7-Point Jobs Plan:
• Training a 21st Century Workforce: Supports workforce development and job training programs to help workers in the manufacturing industry hone skills and enhance their careers; provides assistance for areas hit by job losses; and reduces inefficiencies at Department of Labor.
• Innovation in Natural Resources: Calls for public and private investments in developing renewable energy technology such as deepwater, offshore wind, that has the potential to create thousands of good-paying and sustainable "green jobs;" promotes agricultural exports.
• Helping Small Businesses Succeed: Reduces the employer portion of the payroll tax by two percent on the first $50,000 of payroll, which has the potential to lead to the creation of 1.4 million jobs; allows businesses to depreciate equipment more quickly to remain competitive.
• Cutting Red Tape: Requires federal agencies to consider impact on small businesses, job growth, consumer prices, and energy costs before imposing new regulations; requires agencies to comply with public notice and comments; protects small businesses from onerous penalties.
• Improving Transportation: Changes federal policy to allow heavy trucks on Maine's interstates in order to move consumer goods more safely and efficiently; eliminates economic disparity.
• Investing in Research & Development: Extends the R&D tax credit for 5 years to spur investments and so that more companies can benefit from it.
• Expanding Opportunities for Small Businesses and Farmers: Expands opportunities for small businesses and farmers in the federal marketplace by opening up the federal marketplace to entrepreneurs in every state, improving the federal government contracts outreach plan, and facilitating match-making relationships between the federal government and entrepreneurs.
For more information on Senator Collins' 7-point Jobs Plan, please visit http://www.collins.senate.gov/jobsplan.