PRESS CONFERENCE TO ANNOUNCE INITIATIVE AIMED AT BRINGING JOBS BACK TO U.S.
Congressional Desk
July 28, 2010
Rep. Frank Wolf (R-VA) will announce the introduction of the Strategic Manufacturing & Job Repatriation Act to develop a national manufacturing strategy to create American jobs. The legislation would comprehensively align existing federal funding – at no new cost – to support job repatriation and manufacturing growth, study a new tax incentive to encourage repatriation, and bolster intellectual property protection.
It also builds on language Wolf had included in the fiscal year 2011 Commerce-Justice-Science (CJS) Appropriations bill directing the Commerce Department to launch a job repatriation initiative. Wolf is the ranking Republican on the CJS subcommittee.
Specifically, the legislation:
Reconstitutes President Reagan´s "Project Socrates" as an independent "American Economic Security Commission" to identify and monitor emerging technologies and global economic threats.
Requires the Secretary of Commerce to develop a National Manufacturing and Job Repatriation Strategy and set targets for manufacturing sector job creation.
Creates federal "Repatriation Task Forces" to identify American companies manufacturing abroad and work with states to facilitate the repatriation of jobs to the U.S.
Studies the merits of a major new federal tax incentive to promote repatriation of jobs to the U.S.
Aligns existing federal economic development aid to states with the National Manufacturing Strategy and authorizes funds to repatriation efforts.
Protects American intellectual property by restricting unnecessary foreign access to pending patent applications.
Prioritizes patent applications from American universities to ensure that cutting-edge new technologies may be protected and rapidly-deployed for U.S. firms.
It also builds on language Wolf had included in the fiscal year 2011 Commerce-Justice-Science (CJS) Appropriations bill directing the Commerce Department to launch a job repatriation initiative. Wolf is the ranking Republican on the CJS subcommittee.
Specifically, the legislation:
Reconstitutes President Reagan´s "Project Socrates" as an independent "American Economic Security Commission" to identify and monitor emerging technologies and global economic threats.
Requires the Secretary of Commerce to develop a National Manufacturing and Job Repatriation Strategy and set targets for manufacturing sector job creation.
Creates federal "Repatriation Task Forces" to identify American companies manufacturing abroad and work with states to facilitate the repatriation of jobs to the U.S.
Studies the merits of a major new federal tax incentive to promote repatriation of jobs to the U.S.
Aligns existing federal economic development aid to states with the National Manufacturing Strategy and authorizes funds to repatriation efforts.
Protects American intellectual property by restricting unnecessary foreign access to pending patent applications.
Prioritizes patent applications from American universities to ensure that cutting-edge new technologies may be protected and rapidly-deployed for U.S. firms.