AP - The Obama administration launched a consolidated effort to spur new start-up businesses Monday, part of the White House's campaign to emphasize job creation while downplaying new economic spending initiatives that could face congressional opposition.
Challenge Focused on Encouraging Businesses to Bring
Production Back to the United States or Expand Domestic
Obama Administration today announced that it is accepting proposals through May
31, 2013, for the Make
it in America Challenge, a $40 million competition funded by multiple
federal agencies that is designed to encourage investment and job creation in
the United States. Up to 15 awards will be made to challenge applicants who put
forth one plan to accelerate job creation by encouraging re-shoring of
productive activity by U.S. firms, fostering increased foreign direct
investment, encouraging U.S. companies to keep or expand their businesses—and
jobs—here at home, and training local workers to meet the needs of those
must submit applications that leverages complementary Federal funding sources to
support the development and implementation of a regionally driven economic
development strategy. Eligible challenge
applicants must demonstrate support of the development and implementation of a
regionally driven economic development strategy.
Applicants must provide a detailed description of all activities that
will be undertaken, a summary of how these activities support the overall
project’s goals, and a clear data-driven overview of anticipated impacts.
Applicants will be evaluated based on their ability to meet the criteria set
forth in Section VI.A of the Federal Funding Opportunity. All proposals must be submitted through www.grants.gov.
Make it in America
Challenge builds on the Administration’s efforts to encourage companies
– large and small, foreign and domestic, manufacturers and service firms – to
increase their investment in the United States. The President’s initiatives
include eliminating tax incentives for companies that ship jobs overseas and
providing tax credits for companies that bring jobs back, investing in American
workers to ensure they have the skills they need, modernizing our
infrastructure, and taking action to ensure that American businesses and workers
are competing on a level playing field.
NEW YORK/WASHINGTON: Hillary Clinton promised to be a champion for everyday Americans on Sunday as she kicked off a long-awaited second run for the White House as the commanding Democratic front runner. "Everyday Americans need a champion. I want to be that champion," Clinton said in a video released on the internet that announced her run. "Americans have fought their way back from tough economic times, but the deck is still stacked in favor of those at the top," she said.
WASHINGTON (AP) — Republican lawmakers are already signaling they will do what they can to block President Barack Obama's pitch for tax increases on the wealthiest Americans. Obama is making that pitch to a huge television audience in hopes of putting the new Republican Congress in the position of defending top income earners over the middle class.
Late today, the Treasury Department announced that it will delay the "employer mandate" in Obamacare for one year. This is the provision of the law that requires large employers to provide health insurance to full-time employees or else pay a $2,000 per-employee penalty.
Last night, I detailed the holes in the Obama administration's breathless prediction that congressional failure to quickly pass a law expressly applying the US countervailing duty law to "non-market economies" would cause subsidized Chinese (and to a lesser extent Vietnamese) imports to flood into the United States and drown myriad US companies and workers . In short, we saw that the vast majority of the immediate pain that the White House forecast would actually be neither immediate nor painful.
Secretary Locke participated in the White House launch of
the “Startup America”
initiative today in Washington, D.C. with U.S. Department of Energy Secretary Steven Chu,
Small Business Administration Administrator Karen Mills, Director of the
National Economic Council Gene Sperling, Chairman of the Council of Economic
Advisors Austan Goolsbee, and a number of America’s top entrepreneurs and
In March, China was “handed a propaganda coup” (to use WSJ’s words), when the UK decided, in the face of loud protestations from Washington, to support Beijing’s efforts to launch a new development bank aimed at filling the gaps left by traditional post-war multilateral institutions such as the IMF and the ADB.
Finance Minister Jim Flaherty is asking opposition MPs for “low- to no-cost ideas to grow the economy” that he’ll consider for the 2014 federal budget as the Conservatives try to squeeze more economic growth out of tighter purse strings.
Flaherty has sent his annual pre-budget consultation letter to opposition members of Parliament, with the usual warning that he’ll reject proposals for costly new spending initiatives or new taxes — including increased business taxes or carbon levies.