Issue Position: Jobs & Our Economy

Issue Position

Arkansas has felt the full impact of the national economic crisis, but Blanche Lincoln is working aggressively to reverse the tide that has caused significant job loss and forced many small businesses to close. Her number one priority for Arkansas is creating jobs and putting our economy back on track.

Keeping Jobs in Arkansas
Creating jobs in Arkansas is Senator Lincoln's number one priority. That's why she voted in the Finance Committee and on the Senate floor to support tax incentives that make it more profitable for American corporations to hire at home rather than export jobs overseas. She also voted to repeal tax breaks for companies that move their operations, and American jobs, offshore.

Fighting for Small Businesses
Senator Lincoln championed tax cuts that allow working families and small businesses to get ahead and emerge from the economic crisis stronger and more competitive. As part of her tax cuts package, she introduced the USA Jobs Act of 2009, which would offer a new Research and Development bonus incentive to companies that both research and manufacture their products in the United States. In addition, her S Corporation Modernization Act of 2009 would update and simplify our S corporation tax rules so that businesses will have increased access to capital, which encourages family-owned businesses to stay in the family, eliminates tax traps that penalize unwary but well-meaning business owners, and encourages charitable giving.

Tax Cuts for Arkansas's Working Families
Senator Lincoln worked to make the child tax credit permanent, repeal the marriage penalty, and create the 10 percent bracket, because these are the kinds of tax cuts that have the greatest impact on working families - those that need relief the most. She successfully worked for tax deductions for qualified tuition and higher education expenses - valuable tools for providing more Americans access to college. In addition, she has strived to find a solution to fixing the Alternative Minimum Tax, shielding working Americans. Senator Lincoln is a strong advocate for estate tax reform and believes in a long-term solution that will provide meaningful and permanent relief for family-owned farms and businesses.

Road to Recovery
Senator Lincoln supported the Recovery Act, which has spurred job-creating infrastructure improvement projects and made a real difference in the lives of Arkansans struggling in today's economy. The package has funded critical transportation projects that have created construction jobs and laid the foundation for continued economic growth. The package also granted tax relief to small businesses, the engine of our economy here in Arkansas. She also supported the Senate jobs bill, which, along with much-needed disaster aid for Arkansas farmers which she championed, also included a number of vital tax provisions that will create jobs and improve the economy for Arkansas businesses and families.

Keeping Wall Street Accountable
On April 16, 2010, Senator Lincoln introduced the "The Wall Street Transparency and Accountability Act" to bring 100 percent transparency to the nation's financial markets, prevent future bailouts and protect jobs on Main Street. "The days of backroom Wall Street deals are over," Lincoln said. "This is the strongest Wall Street reform bill to date and represents an historic opportunity for real reform. America's consumers and businesses will finally see a financial market that operates in an open and transparent manner." Lincoln's legislation includes mandatory clearing and trading requirements, real-time reporting of derivatives trades, ensures that all loopholes are closed and prohibits the Federal Reserve and FDIC from providing any federal funds to bail out Wall Street firms who engage in risky derivative deals. Banks engaging in risky swaps transactions will be forced to spin off their swap dealer desks or be barred from receiving any federal assistance. As Chairman of the U.S. Senate Agriculture Committee, Lincoln has jurisdiction of the Commodity Futures Trading Commission which oversees the derivatives market. Since becoming Chairman last fall, Lincoln has worked closely with Senate Democrats and Republicans, as well as the Administration to craft meaningful reform.

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