Posted on 11/16/2011 3:18:09 AM PST by Recovering_Democrat
Drawing together elements from President Barack Obama’s jobs plan, the President’s Council on Jobs and Competitiveness and ideas from congressional Republicans and Democrats, U.S. Sen. Marco Rubio reached out across the aisle Tuesday and teamed up with Democratic U.S. Sen. Chris Coons of Delaware to introduce the American Growth, Recovery, Empowerment and Entrepreneurship Act.
The AGREE Act covers a number of areas, including eliminating some taxes on small businesses. The legislation would also extend the research and development tax credit until 2013, make the Alternative Simplified Credit permanent while increasing it from 14 percent to 20 percent, and create a research credit to encourage manufacturers to hire more workers.
The AGREE Act would also create a tax credit for veterans that would come to 25 percent of the cost to establish a franchise up to $100,000. Rubio and Coons also looked to provide five-year exemptions for businesses that go public from Section 404(b) of Sarbanes-Oxley. The senators also looked to end the per-country limit of employment-based visas while increasing the number of family based visas per country.
That looks like worthy legislation. Washington can’t survive the gridlock of finger pointing...and neither can we. They’re going to have to work together, in spite of the current leader in the WH. This is a step forward, I hope they can get enough support for it.
We do not need more manipulation of the tax code, we need to kill the code, i.e. the IRS with a “Flat Tax” or a “National Sales Tax” and eliminate corporate taxes.
What a shock, Rubio sponsoring a bill to increase “family unification” chain migration.
Rubio putting in more loopholes and credits into the tax code.
What a disappointment.
He also is going to change the law to make high educated foreign students
easier to stay in US. (which will only reduce US interest in getting Ph.D.s)
Large changes like this tucked into some big jobs legislation
is not prudent. We already have H1B visas. A President needs to lead
on this, not a Freshman Senator tucked into some bill
Rubio whiffed on this bill.
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