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Tips for Covering the Congressional Budget
Marilyn Geewax NPR Senior Business Editor
Let’s Start With Obama
What Does POTUS Want?
• • • • • • More Jobs Deficit Reduction Corporate Tax Reform Immigration Reform More Green Energy Transportation Infrastructure Upgrades
Job Losses – The Key Problem
Unemployment Shot Up
American Recovery and Reinvestment Act of 2009
What POTUS Would Do On Jobs
• • • • • Eliminate tax incentives for off-shoring Cut taxes for businesses that hire workers Increase job training efforts Boost spending on infrastructure Provide tax incentives for clean energy
Offshoring: Find the Local Angle
• Offshoring Prevention Act would end tax break that rewards companies for moving factories overseas. • Is there a business in your area that is offshoring? • What’s the impact? More jobs or fewer? • Example: http://tinyurl.com/aexkkr2
Lower Taxes To Spur Hiring
• Talk to local employers to find out whether tax incentives would spur hiring. • Follow up when you hear about hiring. • DesMoinesRegister.com looks at what’s on the state Econ Dev board agenda and finds some companies may hire. • http://preview.tinyurl.com/bwcd3ry
Increase Infrastructure Spending
• The 2009 stim package created a lot of jobs. This would be a good time to follow up – what happened to projects in your area? • What is yet to come for infrastructure? • http://tinyurl.com/bpkd9z3
Boost Support for Clean Energy
• Don’t think just about factory jobs – a lot of the hiring involves installation of solar panels, wind turbines, etc. • And look at how “green” jobs are being financed. • http://tinyurl.com/dxvqkpg
What Do House Republicans Want?
• • • • Lower Corporate Taxes Cut Federal Spending Expand Energy Extraction and Refining Reform GSEs (Fannie and Freddie) to erase government guarantees of the mortgage bonds they issue
GOP Has Had Few Wins Lately
Win McNamee/Getty Images
Lower Corporate Taxes
• This might actually happen because lots of people say rates should be lower and loopholes fewer. • But “loopholes” may be very important to your local businesses, such as the R&D tax credit or rebates for expansion. • http://tinyurl.com/cxb944r
Cut Federal Spending
• Be fair when looking at govt spending. It’s easy to do a story about jobs lost when spending is cut, but harder to find businesses that grow when government gets out of the way. Look for both sides. • For example, military bases are being turned into private developments. • http://tinyurl.com/cjpyhaf
What Does Business Want?
• Corporate Tax Reform • More Spending for Roads, Bridges, Ports and Airports • Immigration Reform • Better Schools and Universities • Tort Reform
3.6 Million Job Openings
More Immigrants to Fill Jobs
• Again, be sure to cover both sides. Sometimes immigrants do fill jobs that U.S. citizens might want, but sometimes they fill slots that otherwise would remain empty. It’s complicated. • http://tinyurl.com/bowsfd8
What Does Labor Want?
• More Spending for Transportation, Schools and Energy Infrastructure • Trade Policy Reforms • More Federal Aid to State and Local Governments to Prevent Layoffs • Wall Street Reforms • Minimum Wage Hike
12 Million Unemployed Now
Nearly 5 Million Are Long-Term Unemployed
Trade Policy Reform
• Unions want to protect U.S. jobs from lowwage, foreign competition. • Again, look for local angles from both sides – the company expanding thanks to foreign customers, and those shrinking because of intense competition. • http://tinyurl.com/cncc6v3
Global Trade Will Be a Top Issue