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Clinton Targets Infrastructure, Jobs

Tuesday, December 1, 2015

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Democratic presidential candidate Hillary Clinton revealed some insights into her proposed infrastructure and jobs plans during a campaign event held Sunday (Nov. 29) in Boston.

According to reports, Clinton’s focus on infrastructure spending goes hand in hand with her goals to create higher-paying middle-class jobs.

‘‘Investing in infrastructure makes tremendous sense both because it creates jobs that pay above median wages and because it improves overall productivity, which leads to higher incomes across the broader economy,’’ Jake Sullivan, senior policy adviser for the Clinton campaign, told the Boston Globe prior to the event.

Connecting Jobs and Infrastructure

Sunday’s event launched a group called Hard Hats for Hillary, described as a coalition to organize working families and union workers in construction, building, transportation and other skilled trade industries.

While job creation is said to be at the core of Clinton’s campaign in the coming months, infrastructure spending is a key component of that vision.

"My jobs plan starts with investing in infrastructure," Clinton said at the gathering, "not just because infrastructure jobs are good-paying jobs, though they are, and not just because we desperately need to invest in building our future again, which we do, but because investing in infrastructure makes our economy more productive and competitive across the board."

Clinton is gaining in support from national labor unions, such as the Laborers' International Union of North America (LIUNA) who announced its endorsement of Clinton on Nov. 24. 

Terry O'Sullivan, LIUNA’s general president, called out Clinton’s vision for the country’s infrastructure, which has been a talking point in her campaign, as one reason for backing her:

“LIUNA is eager to work with Secretary Clinton, as the next President of the United States, to help enact legislation and promote policies that provide long-term investment in America’s roads and bridges, and encourage a real all-of-the-above approach to energy development.”

The Heart of the Plan

At Sunday’s rally, Clinton announced her intention to increase federal investment in infrastructure by $275 billion over the next five years.

Of that, $250 billion will be slated directly toward work on roads, airports and public transit, campaign aides say.

A national infrastructure bank will be created with the remaining $25 billion. The bank is expected to promote private investment in projects and would "support an additional $225 billion in direct loans, loan guarantees, and other forms of credit enhancement," an aide told CBS.

Together, the proposal could direct $500 billion in new infrastructure funding into the nation’s projects.

This new federal spending would be on top of "what the Congress should finally get around to authorizing," Clinton added.

Although specifics have not yet been released, Clinton’s campaign indicates that government funds would be raised from changes in how businesses are taxed and closing tax loopholes. One such loophole, according to the Globe, is one that enables corporations to avoid taxes by moving their headquarters outside the country.

Other aspects of the plan, according to CNN, target clean energy and look at bringing back the Build America bonds used during to fund infrastructure projects during the Great Recession in 2009.

Clinton is expected to reveal additional proposals related to manufacturing and research in the coming weeks.

 

 

   

Tagged categories: Bridges; Funding; Government; Infrastructure; North America; Program/Project Management; Roads/Highways

Comment from Jim Johnson, (12/1/2015, 10:53 AM)

It amazes me how fast and free Hillary Clinton is with everyone else's dollars, including my grand kids and great grand kids. No matter how a person views such spending it is Generational Theft from kids not even born yet....


Comment from Rudi Rennert, (12/1/2015, 12:18 PM)

Yup, I'm trying to figure out what makes this "plan" more relevant than the omnibus TARP bill that has increased Federal baseline budget for nearly a decade now. That also included " shovel ready" jobs that haven't seemed to materialize. Fool me once shame on me....


Comment from Mark Bowen, (12/1/2015, 12:25 PM)

So she has figured out how to re-tax the companies that the unions have chased out of the country. That sounds good on paper.


Comment from Scott Sammons, (12/1/2015, 1:58 PM)

In the '50s, 60s, and early 70s there was considerable funds spent on building infrastructure and consequently providing jobs. There was a mandatory retirement age, opening positions for new college graduates. It is interesting that the same generation that benefited the most under these favorable work conditions were very happy putting off maintenance expenses in the 80s forward, and now wish to shirk the bill when it comes due. With under employment rates as high as they are, infrastructure investment makes a lot of sense. I do not understand an information based economy, and have always worked with physical products, maybe that is why I would rather see money spent on roads and bridges than invested in the stock market.


Comment from Tom Schwerdt, (12/2/2015, 8:26 AM)

Re-tax companies? The effective tax rate (not nominal tax rate) on big corporations in the USA is often miniscule or waved away with a tax inversion, Double Irish, Dutch Sandwich or some other scheme. These schemes get limited, so corporations switch to others. http://www.bloomberg.com/news/articles/2010-10-21/google-2-4-rate-shows-how-60-billion-u-s-revenue-lost-to-tax-loopholes


Comment from Rodney White, (12/2/2015, 8:46 AM)

....So, I guess this money comes out of thin air?? How about using the federal road fuel taxes that are collected under the pretense that they are to go to infrastructure maintenance? What about the $785 billion printed to address "shovel-ready" jobs? Weren't these "jobs" supposed to be infrastructure jobs? Seems we have 535 thieves in Washington ready to get a piece of the dollar each time it moves. Already, I can take a dollar bill out of my left pocket, try to move it to my right pocket, and only 60cents makes the trip....


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