With this ``Make It In America'' agenda, as Speaker Pelosi and soon to be Minority Leader Pelosi said as she exited the Organizational Caucus of the Democratic Party today, there are two principles that the Democratic Caucus will follow: One, we will make it in America so that America can make it. Two, we will do this on behalf of the middle class so that those jobs are there. Interestingly, while the President hasn't used this term very often of ``make it in America,'' President Obama has nonetheless proposed policies that are directly in line with this--specifically, that every business in America be given the opportunity to immediately write off any capital investments they make. Now, it's already in the law. In the American Recovery and Reinvestment Act, there is in the law an automatic write-off of a capital investment made by a small business. That was increased in a subsequent bill that we voted out, without any Republican support, that allows small businesses to write off immediately. The President would go further. I've introduced a bill that would do that--other members of the Democratic Caucus have also--so that businesses would be incentivized to invest now in the capital equipment that will provide the foundation for future jobs. Invest now. This is part of our strategy.…
Editor's note · Context
Garamendi discusses the 'Make It In America' agenda and its implications for job creation and business investment.
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