R i g h t a r d i a: Marco Rubios idea of a jobs act

Thursday, November 17, 2011

Marco Rubios idea of a jobs act

How Floridan's responded to the Agree Act

Senator Marco Rubio (R-FL) and Chris Coon (D-DE) are sponsoring The American Growth, Recovery, Empowerment and Entrepreneurship (AGREE) Act :

Rubio is claiming his act would create jobs. Here are the key provisions:

Extend and strengthen tax credits for businesses investing in research and development (R&D).

Rightardia thinks this is an indirect approach at best. A more direct approach would be offer tax credits to business who actually create R&D jobs.

Stave off the expiration of deductions for businesses spending money on equipment and other capital.

This is a tax cut that has little to do with job creation. What is this provision doing in an act that is supposed to create jobs?

Offer tax incentives for companies to take the ideas they dream up on U.S. soil and produce them here.

Again, How does this provision create jobs? This sounds like part of Rubio's American Dream spiel.

Provide a tax credit of 25 percent of the start-up fee for veterans who open some kind of franchise.

The federal government does have a program to help veteran small business owners purchase franchises. This provision appear to expand an existing program.

Remove regulatory barriers for small businesses going public.

Again, how does this deregulation provision create jobs? The assumption here is that once a business goes public it will sell stock to raise capital and therefor hire more employees. This is a very indirect approach to creating jobs.

Remove per-country limits on employment-based visas in an attempt to allow the brightest foreign students to remain in the country.

This is unlikely to see the light of day. The government needs to create more jobs for US citizens, not foreigners.

Protect American intellectual property from counterfeiting.

Again, Why is a copyright or patent provision in a job's bill? How does that create jobs. Rightardia thinks that limiting protection on patents and copyrights would actually create more jobs.

Rightardia disagrees with the Agree Act. it really isn't a jobs act. The foreign student provision would be offensive to most American workers, particularly union workers.

We give Marco Rubio';s "job's bill" the following grade.