Sean knows that in a troubled economy, the first priority for Congress is getting people back to work. This is why Sean has created a plan that will not only put Americans back to work but also ensure a stable economic future.
* Economic plan section 1:
Provide immediate assistance to state and local governments to prevent further layoffs and support rehiring of public sector workers. This means more jobs for police officers, firefighters, and teachers.
* Economic plan section 2:
Transportation and Energy Improvement Project. Putting people to work rebuilding roads and bridges. Building an electric rail system for both freight and passenger rail beginning in Houston. Update the nation's electric grid to meet modern demand. These goals will be accomplished through direct employment by the government, private contracts, and incentives for private companies to participate.
* Economic plan section 3:
Chapter 11 bankruptcy reform creating a Homeowners Chapter 11. This would reduce foreclosures by allowing homeowners to writedown their mortgage to current market value. It would do away with the millionaire loophole which allows this to be done on a person's second home. This would keep more families in their home by reducing their payments and ensuring that they do not owe more than their home is worth.
* Economic plan section 4:
Entrepreneurial and Small Business Expansion Assistance Program
This would provide start-up loans for new businesses in emerging industries, such as green energy. It would provide loans to small businesses, that are expanding, at interest rates based on the increase in employees. This would provide incentives for entrepreneurs to start new businesses and for small businesses to expand by reducing the risk of doing so.
* Economic plan section 5:
Corporate Tax Reform. Create corporate tax credits for each new American worker that a corporation hires. Create a severance fee for every job shipped oversees. Adjust corporate tax rates and remove loopholes that lead to some large corporations paying little or no taxes.
* Economic plan section 6:
Banking Reform. Reinstate an updated version of the Glass-Steagall Act requiring the separation of investment and commercial banks. Require that troubled banks must be reorganized under bankruptcy before receiving public assistance. Create penalties for both banks and mortgage brokers using predatory lending practices.