On the recordJuly 17, 2012
I want to just pick this up. I do want to come back to our manufacturing policies before we wrap up here. But before we do, just to pull together the American Jobs Act that the President proposed back in September, A, folks, it did not increase the deficit. {time} 2030 The program was paid for, paid for by changes in the tax policy of the United States, policies that the President continues to talk about today that we eliminate the tax benefits that go unnecessarily to the oil company, the oil industry. Some $5 billion to $15 billion a year of subsidy is going to the wealthiest industry in the world. Pull those back. And the extraordinarily low taxes that have been available to the super rich, the top 1 percent, restore those to the Clinton era tax and other tax proposals that he had made so that the proposal was fully paid for--not decreasing the deficit but rather putting people back to work and creating the jobs that are necessary to move the economy and to get the American middle class back into the game so that they can prosper and so that we can rebuild those American manufacturing jobs, the 9 million jobs in manufacturing that were lost between 1990 and 2010. Keep in mind that over the last 29 months, there has been private sector job growth every one of those 29 months. And so when people say, no, no, it's not good; say, it's not good enough, but at least it is happening. Men and women are going back to work in the private sector.…
Source
govinfo.gov




