Sens. Rand Paul (R-Ky.) and Mitch McConnell (R-Ky.) today introduced S.1852, the Economic Freedom Zones Act of 2013. This bill provides for the establishment of free market enterprise zones in order to help facilitate the creation of new jobs, entrepreneurial opportunities, enhance and renew educational opportunities and increase community involvement in bankrupt or economically distressed areas. These zones will apply to any zip code with unemployment greater than one and a half times the national average. This bill will dramatically reduce taxes and red tape so that families and businesses can grow and thrive.
"In order to change our course, we must reverse the trend toward more Big Government by ending the corporate welfare and crony capitalism that limits choice and stifles competition. We must encourage policies that will lift up the individual, allow for the creation of new jobs, improve the school system and get these communities back to work. The answer to poverty and unemployment is not another government bailout; it is simply leaving more money in the hands of those who earned it. The Economic Freedom Zones Act of 2013 will do just that," Sen. Paul said.
"I am proud to co-sponsor Senator Paul's bill and I applaud him for his work to help distressed areas around the nation, including those in Kentucky," Sen. McConnell said. "In addition to helping bring businesses to distressed areas, this legislation will assist in job creation by unraveling burdensome federal regulations that are stifling economic development."