Morning Business: Digging Out of a Recession
The newly formed Congressional Task Force on Competitiveness met for the first time Tuesday to develop strategies for the country’s long-term economic recovery. The group, which consists of 15 Representatives, is headed by Democrats Mike Michaud (Maine) and John Yarmuth (Ky.).
[IMGCAP(1)]Michaud promised to put an emphasis on manufacturing companies as the country digs its way out of a deep recession.
“For our national security and our economic prosperity, we need a robust manufacturing sector here in the United States,— he said in a statement. “For too long our country has ignored the needs of manufacturers. This task force will concentrate on ways that we can increase the competitiveness of U.S. companies so that they can grow and create jobs.—
In the first meeting, the members set an agenda to address the crisis. In bimonthly sessions, they will discuss policy on education, trade, tax, intellectual property and broadband and infrastructure issues.
Yarmuth has pointed to General Electric Co.’s promise to bring 830 jobs to his Kentucky district, where the company will produce progressive, energy-efficient products.
“The Competitiveness Task Force will use this type of forward-thinking to develop national policies that will not only help get our economy back on track now, but also provide reliable, long-lasting job creation and economic growth 20, 30, and 40 years into the future,— he said in a statement.