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Jobs and Economy Update August 4, 2010

Dear Friends,
Our state remains severely impacted by job losses, especially in our manufacturing sector.  Our domestic auto industry is facing one of the most challenging times in its history, which presents a period of unprecedented challenges for our community and our country.  With Michigan’s unemployment rate at 13.2% and more than 650,000 Michiganders out of work, too many families know the pain of having to tell children their parent no longer has a job; and there will be harsh sacrifices for the entire family.  Despite this suffering, as in other difficult times in the life of our community, we persevered; we surmounted; and, ultimately, we prospered.  We will do so again.
Communist China’s unfair trade practices have resulted in a crippling U.S. trade deficit, a Chinese foreign exchange war chest of $2.4 trillion, and China's emergence as an industrial superpower.  A recent report commissioned by the U.S. Chamber of Commerce asserted China is becoming increasingly aggressive in using its vast market to push foreign companies to transfer leading-edge technologies in exchange for market access.  

Creating and Protecting American Jobs
  • Lead Republican Sponsor of H.R. 5438 which directs the EPA to publish annually the list of fuel efficient vehicles to include domestic automobiles which were previously and unfairly omitted. The legislation will highlight and promote the ingenuity and efforts of the Big Three Automakers to design and manufacture fuel efficient vehicles
  • Lead Republican sponsor of H.R. 4788, to prevent domestic airlines from outsourcing their aviation jobs to their foreign partner airlines, and will prevent them from outsourcing American jobs
  • Co-sponsored and voted for H.R. 2751 which created the bipartisan “Cash for Clunkers” program. The success of this program allowed auto makers to build and sell more care, and keep Michigan residents working
  • Co-sponsored H.R. 4850 the American Jobs Creation and Investment Act, to allow companies to accelerate the use of their alternative minimum tax (AMT) credits for job creation and to spur new investment in the United States
  • Original co-sponsor of H.J.Res.77 which would disapprove of the ruling submitted by the EPA relating to the endangerment and cause findings for greenhouse gas. This would defend American manufacturers and other energy consuming businesses from any harm as a result of the EPA's ruling on greenhouse gas consumption
  • Introduced H.R.4344, to prohibit the Environmental Protection Agency from obligating any amounts for the regulation of emissions of carbon dioxide. This, too, would defend our manufacturers against any penalties for using energy to do their jobs

Cutting Taxes and Wasteful Spending
  • Proposed the elimination of the Republican House Policy Committee, which he chairs, to save taxpayers $362,000 annually
  • Co-sponsored H.R. 143 which would provide a two month suspension of taxes on employment and personal income
  • Introduced the Fiscal Integrity Through Transparency and Technology Act (H.R. 1648), to ensure the federal budget does not grow faster than the American families’ budgets
  • Co-sponsored H.R. 240, which would protect working families from paying higher taxes by eliminating the alternative minimum tax on individual taxpayers for taxable years beginning after 2008

Assisting the unemployed
  • Co-sponsored H.R. 155 which would suspend all taxes on unemployment     compensation for a two-year period
  • Voted for H.R. 5618 which extended unemployment benefits through December 1, 2010
  • Co-sponsored H.R. 5453 which would extend unemployment benefits and COBRA

Promoting Small Businesses and Entrepreneurship 
  • Co-sponsored H.R.294 which reinstates and expands the veteran-owned small business loan program, under which the Secretary of Veterans Affairs may provide loans to veteran-owned small businesses
  • Co-sponsored H.R. 2672 which provides tax credits to veterans who purchase a franchise
  • Co-sponsored H.R. 5141 which lessens the amount of paperwork required of small businesses as a result of the Healthcare Reform bill

Defending the Benefits of Hard Working Families
  • Co- sponsored H.R. 2793 which would require the Presidential Task Force on the Auto Industry to address the pensions of employees of Auto Dealerships who were displaced because of the Chrysler and GM bankruptcies in a report to Congress
  • Lead Republican Sponsor of H.R. 3455 which provides for healthcare benefits for Delphi retirees who lost their benefits in bankruptcy

Fighting Unfair Foreign Trade Practices
  • Co-sponsored H.R. 2378 which would neutralize the negative effects of misaligned foreign currency by allowing injured American industries and their workers to seek remedies under current trade laws
  • Introduced the Freedom Trade Act (H.R. 3347) to withdraw normal trade relations (NTR) treatment from the products of foreign countries which do not respect their citizens’ human rights. This will end the permanent normalization of trade relations with communist China which guaranteed this communist country’s irrevocable and low tariff access to our market; and, thereby, devastated our manufacturing base
  • Co-sponsored the Textile Enforcement and Security Act of 2010 (HR 5393) to more aggressively enforce our nation’s trade laws so we are not being negatively impacted by trading partners who are circumventing the rules set forth in trade agreements
  • Co-authored letter to the President urging an in-depth investigation of China’s illegal subsidization of its domestic paper industry

Thaddeus McCotter
Member of Congress

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