Brown pitches community investment bill

Senator hopes to attract manufacturers to areas hit by job loss
Melissa Topey
Apr 12, 2014
U.S. Senator Sherrod Brown, D-Ohio, has introduced legislation that would provide incentives for manufacturers to invest in local communities hit hard by factory closures in the recession.

His plan, the Manufacturing Communities Investment Act, would build on the New Markets Tax Credit, which expired at the end of 2013.

“In manufacturing communities across this nation, the local factory can be the lifeblood of the community. And as we know all too well, the closure of a factory devastates the workers, their families and the entire community,” Brown said in a statement. “This tax credit would provide private investors with real incentives to invest in companies that want to breathe new life into shuttered manufacturing facilities and create new jobs”

The New Market Tax Credit was designed to give community developers financial incentives to invest in low-income areas. The Manufacturing Investment Act would extend the New Market Tax Credit for an additional three years, increasing its annual allocation from $3.5 billion to $5 billion.

It would sweeten the deal in hard-hit towns by providing an additional $1 billion a year in 2014, 2015 and 2016 for manufacturing investments in communities that have suffered major manufacturing job loss, according to Brown’s office.

The legislation passed through the Senate Commerce Committee Wednesday.

Norwalk could potentially use the new tax credit because of the 296 jobs lost when Janesville Acoustics closed its doors last year.

The bill, if approved, could only help communities trying to turn an obstacle into an opportunity, said Norwalk Mayor Rob Duncan.

Manufacturers tend to look at large communities when looking to build because of the infrastructure in place, such as major highways, waterways and airports, as well as incentives they can offer.

“This is another tool to put in our toolbox” Duncan said. “Norwalk is just as important as the three C’s — Cleveland, Columbus and Cincinnati”

Comments

sugar

What a waste product this socialist pig is.

coasterfan

So, Sugar... You think it's a bad thing that Sherrod is helping with job creation? Methinks you should stop taking your idiot pills stat.

sugar

#1 S. Brown does not do anything other than advance his socialist agenda, you can't see it or you just agree with it, neither is smart.
#2 are you going to follow me around and critique my every post? Either add something of substance or offer an opinion, as I have done above. Otherwise get off my a**.

The Hero Zone's picture
The Hero Zone

Sugar I don't know what you did to have coasterfan actually reply to you. I'm almost jealous in a way. If you don't want him can I have him?

sugar

I seem to attract complete buffoons. Married a couple, please take him, he's all yours.

Stop It

More of those "tools in toolboxes". I see a lot of real 'tools' in politics, but none that I'd have in my own personal toolbox. The ones I have, work.

The Hero Zone's picture
The Hero Zone

Isn't this a case of one side of the mouth decrying how horrible it is to subsidize big business and the other supporting such subsidies? I'm confused. I'm not even an absolutist that has to be an all-or-nothing on a particular issue but this things seems to be disingenuous in some way.

Or I could be wrong and Sen. Brown has never decried subsidies for businesses before? (We'll leave his voting for the ACA off to the side despite it being a government guarantee of profit.)

SamAdams

This might sound good on the surface, but the fact that Sherrod Brown is behind it is reason enough to take a good, hard second look! Brown is a big government, government nanny proponent. His entire outlook on EVERYthing is based on that underlying foundation.

Do I think corporate taxes are too high in America? Yes. (Before you jump all over me, Big Dog, note that BECAUSE taxes are too high, companies have virtual armies of lawyers and accountants busily finding loopholes -- even those that might be deemed "shady" -- to avoid such high taxation.) Are tax credits (in general) necessarily a bad idea? No.

But none of that is really the point. If Brown REALLY wanted to do something about encouraging manufacturing, facilitating jobs creation, etc., he'd be on board for true tax reform. Lower the corporate rate; eliminate deductions, loopholes, etc. Do the same for individuals. Then we'd see rich men and wealthy companies actually PAYING taxes (it would be cheaper at that point than paying all of those experts to avoid them!), and the government would see a net INCREASE in tax income. (No, I don't really want that, either, since government notoriously misspends a vast percentage of the monies it confiscates), but that's a separate issue).

Reform (read "dramatically simplify) the tax code. Eliminate the abusive IRS and the complex system that permits some to duck taxation entirely. And then get the he11 out of the way of people and companies so they can WORK! Of course, that won't happen in Senator Brown's office. And there's your evidence that Brown cares more about himself and more about government than he does about anything you, I, or "big business" might do!

2cents's picture
2cents

Yep, I have no idea why Washington will not lower the corp rate and see the money come home, maybe work come home too?

http://ctj.org/ctjreports/2013/0...

The Big Dog's back

And you right wingnuts wonder why us Libs feel about you the way we do.

2cents's picture
2cents

We kind of do, it seems like the rich libs have their own agenda, get rich by any means and then tell the rest of the world how to live!

https://www.mrconservative.com/2...

http://www.democracynow.org/2012...

http://www.cnet.com/news/riots-s...

coasterfan

Anytime i see someone who posts links to other websites, it tells me that they don't have any original thoughts of their own, and are content with having someone else do their thinking for them. Hmm...that actually describes a typical Fox News viewer, doesn't it?

2cents's picture
2cents

Sorry you think that, I have been writing letters to the SR Editor since 1986, a bit hard to link to a web site then, sometimes the links bring more information to the table. Just like I use Dropbox to give others access to data that may be too large to email.

Donegan

The reason you never link anything Coaster is because you just make stuff up with nothing factual to link to. Your "original thoughts" are just regurgitated Obama talking points that are either misguided or flat out lies that cannot be backed up with a link. Hmm That describes a typical liberal, doesn't it?

grumpy

Re: "Anytime i see someone who posts links to other websites, it tells me that they don't have any original thoughts of their own"

Anytime I read posts that link to nothing I take what is said to be original thoughts.. that have no facts to back those "original thoughts... in other words unsubstantiated guesses at best, or at worst outright lies. You have a right to your opinion... but not a right to your own made up facts. If you state something as being a fact you should be able to prove it. That is why most people back their statements with links that back the facts presented.

That said you have to have facts that back your posts if you want to be believed. If you wish to give propaganda or opinions, no need to back up those things.

The Hero Zone's picture
The Hero Zone

One can only wonder why a former teacher would seem to encourage plagiarism among his students at worst, or be negligent in asking for a bibliography or citations page at best. His obvious political partisanship is a concern, too, but pales to the implied job performance he had over his students where he could dictate whatever he wanted, not take questions, not encourage questions, etc. We can see where this behavior and mentality has helped elect such people as our President who continue his intellectually dishonest, authoritarian behavior.

sugar

Coaster fan, you should get yourself a job and double dip. You do realize that thinking people despise that? If I follow you around, trust me I will make your critical posts of me look like child's play.

Pete

It's because you lack the basic human intellect to form an independent thought or feeling. Your only option is to act as your puppet masters command.

Go back to watching MSDNC so you can get your marching orders for the day.

Pete

Printed and now hanging on my office wall!

Thanks!

The Hero Zone's picture
The Hero Zone

Thank you.

SamAdams

I'd feel a whole lot better about agreeing with what such a highly intelligent man had to say on the subject if it weren't for the fact that he was right...

The Big Dog's back

He hit the nail on the head, right wingnuts, the dumbing down of America.

2cents's picture
2cents

I walked by a store tonight in east Cleveland, they have crack pipes on sale, should I get you a new one?

sugar

And Big Dog is the poster child for dumb .