Issue Position: Jobs and the Economy

Issue Position

"Good for Triangle Jobs and the Economy"

David Price has worked tirelessly to strengthen the Triangle's well-deserved reputation as one of the best places to work and do business in the country. He wants to build on our region's success and keep high-paying jobs here in North Carolina.

Although the Triangle and much of North Carolina currently enjoy greater economic growth than the U.S. as a whole, we are not immune to the subprime mortgage crisis, the housing downturn, and turmoil in the financial markets.

That is why David is pushing in Congress to grow our economy with a package of stimulative tax cuts, reduce the growing burden of health care costs on small businesses and their employees, enhance worker training at our community colleges, and extend unemployment benefits for workers who are bearing the costs of the economic downturn. He has also taken the lead in ensuring full funding for initiatives providing capital and start-up assistance to small businesses.

THE PRICE RECORD:

Working for North Carolina's Workers

The economic policies enacted under President Bush have failed to support most families who are struggling with the rising costs of food, fuel, health care, and college tuition. David favors an economic agenda that provides real tax relief for North Carolina's working families and small businesses. In contrast to the Bush tax cuts that mostly favor wealthy Americans, David wants to extend marriage-penalty relief and the child tax credit, expand the ten percent individual income tax bracket, and liberalize expensing and depreciation for small businesses. Leading economists have endorsed these targeted tax cuts for the immediate stimulative effect they would have on our economy. They would also avoid the ruinous effect that the Bush tax cuts have had on our ballooning federal deficit.

Protecting Homeowners

The crisis in the subprime mortgage industry has left far too many families in desperate situations, and the ripple effects of foreclosures in our communities demand smart solutions. David believes that the federal government must work together with state and local governments, housing nonprofits, and the lending and real estate industries to minimize the impact of the mortgage crisis on American families. He helped pass legislation in Congress to expand financing options for borrowers facing foreclosure and to combat the abusive lending practices that have contributed to the housing crisis. As a member of the influential House subcommittee that oversees the Department of Housing and Urban Development, he has worked to shore up programs designed to promote affordable housing and community development.

Strengthening Research and Innovation

It's no secret that our region's economic success is largely built upon research and innovation. David has fought to support and strengthen this important "competitive advantage" for our region and country as a whole, and he has opposed President Bush's efforts to squeeze research budgets and impose ideological constraints on science. He wants to make the research and development tax credit permanent and has pushed for policies and projects that translate research findings to businesses enterprises more effectively. He also supports initiatives to enhance math and science education to create the next generation of American innovators. For his longstanding support for research, Price was twice named a "Champion of Science" by the Science Coalition.

Keeping Jobs at Home

Our tax code encourages too many American manufacturers to ship jobs overseas. David supports a plan to change those incentives and reward manufacturers who keep their jobs at home. He is also pushing to end unproductive tax shelters and foreign tax havens that allow some corporations to avoid paying their fair share.

Making Sure Free Trade is Fair Trade

David is committed to trade policies that create American jobs, raise standards of living here and around the world, and strengthen our manufacturing, intellectual property, and technology sectors. He understands the stake Triangle businesses and workers have in opening overseas markets and wants to make sure that our trade agreements do not put our workers and firms at a disadvantage for the high labor, environmental and safety standards we uphold. David took a stand against approval of the Central American Free Trade Agreement (CAFTA) because it lacked those basic assurances and failed to provide adequate assistance to dislocated workers. David also wants to pressure China to end their currency manipulation, which gives an unfair price advantage to their products.

Helping Small Businesses Provide Health Insurance

David understands that small businesses are struggling to provide health insurance to their employees, and he supports a plan that would help both employers and workers. It would set up a health coverage pool for workers modeled on the successful federal employee system and make small business owners eligible for tax credits to ease their insurance costs.

Improving Worker Training

Today's workers must be prepared for the jobs of tomorrow, especially in the high-tech industries located in the Triangle. David authored a law establishing the highly successful Advanced Technology Education (ATE) program, which he has since worked to strengthen and expand. It created an innovative partnership between the National Science Foundation and our community colleges to create new courses and teaching methods geared to the high-tech marketplace. He also favors expanded assistance to high-tech workers and other workers who lose their jobs due to foreign outsourcing -- which would provide greater access to job training, health benefits, and funding for job search and relocation expenses.

Supporting Small Business Loans

Every year David has been a reliable leader in the fight to save the Small Business Administration's flagship 7(a) loan program from drastic cuts by the Bush Administration. Through his efforts and those of his colleagues, Congress has restored vital funding for the program which leverages billions in direct loans for small businesses. He has also pushed full funding of the SBA Microloan program, which is a key program for minority and very small business owners. David also supports measures to help smaller firms bid for government contracts and reduce their paperwork requirements.

Improving Transportation in the Triangle

From pushing for expedited construction of US 1, US 64, NC 55, and the Outer Loop to supporting mass transit and high-speed rail service, David has worked hard to improve transportation throughout the Triangle. He continues to push for North Carolina's fair share of highway funding and the upgrading of Triangle buses and terminals. He is also an active participant in the Regional Transportation Alliance, a group of Triangle leaders organized to address congestion in the region. As a member of the influential House Subcommittee that oversees the Transportation Department budget, David has worked to put the Triangle's priorities front and center in Washington.

Connecting Triangle Businesses with Opportunities

David initiated the "Marketplace" small business procurement workshop and now sponsors it along with neighboring Congressmen. This annual event provides procurement opportunities for Triangle-area businesses by bringing them together with buyers from federal and state government and large prime contractors.

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