In the past few decades, it has been no secret that companies practice shipping jobs overseas for less expenses and a bigger tax break. With the job market in the state that it’s currently in, that doesn’t sound too optimistic for skilled labor workers. But while this has been the trend for a few decades in the business world, it may soon stop. In President Obama’s recent State of the Union Address, he vowed to change tax measures in order to lure American companies to invest in domestic labor jobs.
President Obama stated, “My message is simple: It’s time to stop rewarding businesses that ship jobs overseas and start rewarding companies that create jobs right her in America. Send me these tax reforms, and I’ll sign them right away.” President Obama is encouraging the Senate and House of Representatives to cooperate and send legislative bills to his desk to enact into law. These laws have the potential to reform domestic and international business taxes in favor of hiring domestic labor jobs over off-shoring them.
The thinking behind this initiative is that if tax breaks are more generous at home, companies would keep more of their operations domestic. Some of these tax breaks include: a lower tax rate for domestic manufacturers, additional tax breaks for high-tech manufacturing, and new tax credit to help finance the construction of facilities at shuttered military bases or in regions hit hardest by companies moving overseas. Not only would this legislation provide more of an opportunity for domestic hiring in skilled manufacturing and labor jobs, but it would help further construction of facilities where these jobs are required.
In a preemptive measure, President Obama recently signed a new memorandum directing Vice President Joe Biden to spearhead a full-scale review of federal job training programs. Speaking at a General Electric gas engine production plant, the President explained how the move was designed to reform or remove inefficient worker education programs from the large number that exist.
He was quoted saying, “We’ve got to move away from what my labor secretary, Tom Perez, calls ‘train and pray.’ You know, you train worker first, and then you hope they get a job. We can’t do that, partly because it costs money to train folks, and a lot of times young people, they take out loans, so they’re getting into debt thinking they’ve trained for a job, and then suddenly there’s no job there.”
The potential impact of this memorandum is monumental to the skilled labor job market. By reforming worker education programs, skilled laborers are going to have fewer people to compete for domestic jobs with. This memorandum would ensure that only verifiable worker education programs would remain while many others that don’t meet the standards would be either removed or reformed. Skilled labor is an extremely important aspect to the American economy, it makes sense to ensure that the educational programs that set up the skilled-labor force does the best it can.
For that reason, there isn’t a better time to sign up for courses or programs here at Bay State School of Technology. We offer a variety of educational programs that will be positively affected by both new legislature and Obama’s new memorandum on federal job training programs. Bay State Tech’s certification in Domestic and Commercial Refrigeration and Air Conditioning, Major Appliance Technicians, and Electronics Technicians are necessary programs for anyone looking be a part of bringing manufacturing jobs from overseas back home. Bay State School of Technology is always updating its courses and making the necessary changes to adapt to the industry. An education from Bay State Tech will help you become part of America’s growing workforce and take advantage of manufacturing initiatives that will create jobs for America’s skilled laborers. Look through our website to learn more of the opportunities that await you!