The Washington Post

Obama acceptance speech reflected on tax cuts, job creation

Last week’s Democratic National Convention carried this message to businesses: We want to help you create more jobs in the U.S.

In accepting his party’s nomination, President Obama touted his administration’s tax cuts for small businesses that hire and retain employees, and emphasized his work with business leaders on bringing jobs back to the U.S. — “not because our workers make less pay, but because we make better products,” he said. He was referring to an “insourcing forum” the White House hosted in January with companies that moved jobs back to the U.S.

Obama highlighted the growth in manufacturing jobs and spoke of the need to continue on this track by rewarding businesses that hire U.S. workers.

“After a decade of decline, this country created over half a million manufacturing jobs in the last two and a half years,” Obama said. “And now you have a choice: We can give more tax breaks to corporations that ship jobs overseas, or we can start rewarding companies that open new plants and train new workers and create new jobs here.”

Friday’s jobs report from the Labor Department indicated that job creation is still lagging. While the unemployment rate dropped from 8.3 percent to 8.1 percent in August, it was only because more than 300,000 people dropped out of the workforce.

Comments
Show Comments
0 Comments
Washington Post Subscriptions

Get 2 months of digital access to The Washington Post for just 99¢.

A limited time offer for Apple Pay users.

Buy with
Cancel anytime

$9.99/month after the two month trial period. Sales tax may apply.
By subscribing you agree to our Terms of Service, Digital Products Terms of Sale & Privacy Policy.

Get 2 months of digital access to The Washington Post for just 99¢.

Most Read
DJIA -0.3%
NASDAQ -0.63%
Last Update: 01/18/2017(DJIA&NASDAQ)

business

capitalbusiness

Success! Check your inbox for details.

See all newsletters

Close video player
Now Playing
Read content from allstate
Content from Allstate This content is paid for by an advertiser and published by WP BrandStudio. The Washington Post newsroom was not involved in the creation of this content. Learn more about WP BrandStudio.
We went to the source. Here’s what matters to millennials.
A state-by-state look at where Generation Y stands on the big issues.