Obama unveils economic plan at GM plant in Janesville, Wisconsin

[MadBadger]

On the heels of a raucous rally and a capacity crowd in Madison Tuesday night, Democratic presidential frontrunner Barack Obama today toured the General Motors Corp. plant in Janesville, where he unveiled some major economic policy initiatives.
The assembly plant complex is Janesville's largest employer and is the largest GM plant under one roof in the United States. GM announced plans Tuesday to reduce its American workforce by offering buyouts to 74,000 members of the United Auto Workers, including 2,500 in Janesville.

Obama proposed the creation of a National Infrastructure Reinvestment Bank that will invest $60 billion of 10 years. He also proposed the Patriot Employer Act that would end tax breaks for American companies that ship our jobs overseas and provide tax breaks for companies that create jobs in the United States.

"We are not standing on the brink of recession due to forces beyond our control. The fallout from the housing crisis that's cost jobs and wiped out savings was not an inevitable part of the business cycle. It was a failure of leadership and imagination in Washington - the culmination of decades of decisions that were made or put off without regard to the realities of a global economy and the growing inequality it's produced," Obama said.

Obama's Democratic opponent, Hillary Rodham Clinton, today criticized Obama for declining to debate her in Wisconsin.
Republican frontrunner Sen. John McCain is scheduled to be in Wisconsin Friday night at Serb Hall on Milwaukee's south side.
Republican challenger Mike Huckabee planned to kick off a series of stops in Wisconsin tonight at the Country Springs Hotel in Pewaukee.

http://www.biztimes.com/daily/2008/2/13/obama-unveils-economic-plan-at-gm-plant-in-janesville

[Auggie]

1. National Infrastructure Reinvestment Bank -- A New Deal?

I like it

[kirby]

2. "Patriot Employer Act" - LOVE IT!!! n/t

[Auggie]

4. What I love even more? Actual SUBSTANCE! Not more campaign rhetoric.

[Adelante]

12. I love that one, too

He introduced the legislation last year.

The Senate’s “Patriot Employers” version would give a 1 percent tax credit on taxable income for companies that maintain or increase their US employment in relation to their overseas workers. They must also keep their corporate headquarters in the US. The Senate bill adds a “living wage” requirement. Its initial co-sponsors are Sherrod Brown of Ohio and Dick Durbin and Barack Obama of Illinois. Obama’s sponsorship, I would guess, may attract other celebrated names.

http://www.thenation.com/blogs/notion?pid=219923

[AtomicKitten]

3. Very impressive!

[JanusAscending]

8. GOBAMA !!

Fired up:bounce: YES WE CAN!!

[AtomicKitten]

11. w00t

[Ellipsis]

5. Very Cool! K&R

[harun]

Awesome, awesome and...... errrr.... awesome !!!!!

[zulchzulu]

6. Thanks for posting this K and an R...

[ayeshahaqqiqa]

7. these are good ideas

We desperately need to work on our infrastructure, and those jobs aren't ones that they can do overseas! And punishing companies for outsourcing and rewarding companies for making jobs here at home is a brilliant move, one that will resonate with Americans across the political spectrum.

[Big Blue Marble]

9. This is excellent.

He is starting to address the real problems for real Americans.

[GarbagemanLB]

10. Wait...I thought he was all rhetoric!??!

[Inuca]

13. National Infrastructure Reinvestment Bank

Just based on the name, since this is the only info I have, this may be similar to something proposed by Dodd and Hagel just before the Minneapolis bridge collapse.