Hagerty releases ‘Blueprint to Bring Jobs Back to the U.S.’

Republican U.S. Senate candidate Bill Hagerty speaks at Nashville event on Dec. 3, 2019. (Erik Schelzig, Tennessee Journal)

Republican U.S. Senate candidate Bill Hagerty has been named to President Donald Trump’s advisory board on re-opening the U.S. economy ravaged by the coronavirus pandemic. Hagerty has released what what he calls a “blueprint” to bring jobs to the U.S. from China.

Here’s the full release from the Hagerty campaign:

Nashville, TN — In the wake of the coronavirus pandemic, it has become clear that our dependency on China for key medical supplies and pharmaceutical drugs is a dangerous vulnerability for the United States. Today, Bill Hagerty released his latest plan to bring jobs back to the U.S. and secure our supply chains. 

“As the U.S. Ambassador to Japan, I have seen firsthand how dangerous the Communist Chinese regime can be. The coronavirus pandemic has only highlighted the threat China poses by underscoring the need to bring our supply chain back,” said Bill Hagerty. “We cannot rely on China’s state-owned companies to make so many of the products we need- including medical supplies and pharmaceutical drugs. As your next Senator, I will continue to support President Trump in standing up to the Chinese regime and bring jobs back to the U.S.”

In his plan, Hagerty notes that he will work alongside President Trump to: 

• Make the corporate tax rate in the Tax Cuts and Jobs Act permanent and further lower the corporate tax rate to make us more cost-competitive with other countries, including China
• Continue to eliminate and remove outdated, costly and often conflicting regulations
• Increase jobs training and skills development
• Balance a number of corporate tax options to further incentivize manufacturers to move their businesses back from China, including:
  • ​Allowing immediate expensing of manufacturing equipment and related investments
  • Providing a capital gains tax reduction that would release fresh capital, encourage investment in the United States, and bring back manufacturing jobs
  • Implementing payroll tax relief for a specified period for companies that bring jobs back from China.

Read the full plan here.