The REBUILD Act, comprised of a “top 10 list” of policy priorities, would stimulate production and increase our global competitiveness.
WASHINGTON, DC – Monday Congressman Brett Guthrie introduced the Reducing Employer Burdens, Unleashing Innovation, and Labor Development (REBUILD) Act of 2013.
“Having worked at my family’s manufacturing business in Bowling Green, I know a strong manufacturing base is instrumental to turning the U.S. economy around and putting Americans back to work,” said Congressman Guthrie. “I also understand first-hand how federal policies can encourage or stifle innovation and job creation.”
The REBUILD Act, comprised of a “top 10 list” of policy priorities, would stimulate production and increase our global competitiveness. Specifically, the bill includes reforms related to the following issues: workforce training, the R&D tax credit, comprehensive tax reform, federal oil and gas resources, EPA regulations, the repeal of Obamacare, health insurance portability, renewal of trade promotion authority, export controls and opening up more spectrum for industry for technological innovation.
From productivity to average annual pay, American manufacturing jobs are some of the best performing in the country. A recent study by the National Association of Manufacturers (NAM) reported that manufacturing supports about one out of six private-sector jobs, with an annual salary of $77,060, more than $15,000 higher than the average across all industries. Further, manufacturers contributed $1.87 trillion to the economy in 2012, or 11.9 percent of GDP, and nearly half of all exports.
“The manufacturing industry, which has seen months of job losses, still remains a vital part of the American workforce. With pro-growth policies that create certainty and encourage investment, America can regain its competitive edge in manufacturing and business as a whole,” added Congressman Guthrie.
According to NAM, the manufacturing industry employs 219,156 Kentuckians – 11.6 percent of the Commonwealth’s workforce.