U.S. Rep. Ron Kind, a Democrat from Wisconsin, has introduced a bill that would boost the manufacturing industry and encourage businesses to keep jobs in the U.S.
The legislation, which Kind calls the “Rebuilding American Manufacturing Act,” reduces federal tax rates as an incentive to not just keep manufacturing jobs here at home and but also to encourage companies to bring jobs back to the U.S. that have already moved abroad.
“Investing in American manufacturing is critical to remaining competitive in a global economy,” Kind said. “Reducing the effective tax rate gives our manufacturers greater opportunity to succeed globally and create jobs. It will help them keep facilities in Wisconsin, produce American goods, hire American workers, and continue to grow and innovate.”
According to the Wisconsin Congressman, the law would create a new section of tax code that cuts the effective tax rate of U.S. manufacturers to 20 percent.
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