Katie Grant, 202-225-3130
During Hispanic Heritage Month, we are reminded of the important contributions of the Latino community to our economy while at the same time we reflect on the fact that the Latino community has been one of the hardest hit communities by the recession. Democrats are committed to addressing this challenge by focusing on the Make It In America plan – a plan to support job creation by revitalizing American innovation and industry, rebuilding our communities and investing in education and our workforce.
Many of the proposals in President Obama’s recently proposed American Jobs Act overlap with the Make It In America plan and will help put more Latinos back to work:
Helping 250,000 Hispanic-owned small businesses grow, hire and invest:
The American Jobs Act includes several tax cuts for small businesses that are similar to the tax provisions included in the Make It In America plan to create an encouraging environment for businesses to innovate and make products in the U.S. The legislation will also help bring down unemployment among Latino veterans, which is at 16.1% for Gulf War II era veterans, by providing a “returning heroes” tax credit from $5,600 to $9,600 to encourage companies to hire unemployed veterans.
Rebuilding our communities:
The American Jobs Act invests $50 billion in highways, transit, rail and aviation, makes additional investments to ensure there are employment opportunities for minorities in transportation-related activities and helps minority-owned businesses gain better access to transportation contracts. The American Jobs Act also invests $25 billion in school infrastructure that will modernize schools serving low income students. These investments are similar to investments Democrats are pursuing in our Make It In America plan so we can out-build and out-educate our competitors, strengthen American competitiveness, and ensure middle class families can succeed.
Investing in workforce training and putting Latinos back to work:
The American Jobs Act invests in our workforce by reforming the unemployment system with training programs that will help workers gain the skills they need to find good jobs and will help the long-term unemployed. This type of reform would help nearly one million long-term unemployed Latinos develop the skills they need to get a well-paying, middle class job, and would allow more businesses to grow and expand as they hire trained workers. Workforce development is a priority in the Make It In America plan, and similarly the Jobs Act invests in providing job opportunities and training to low-income youth and adults, which will help bring down the 19.3% unemployment rate among Hispanic youths.
The American Jobs Act and the Make It In America plan incorporate bipartisan ideas, are fully paid for and will create jobs immediately. We hope Republicans will work with us to quickly act on this legislation that will benefit the Latino community by creating jobs, growing the economy and ensuring that all families can make it in America.