Jobs
As I meet and speak with San Diegans from all walks of life, it is clear that the economy and job creation are overwhelmingly on their minds. Families are feeling the pain from the gas pump to the grocery store. That is why my office has been focused on helping create an environment where the private sector can grow and create jobs.
"With one in ten San Diegans out of work, creating an environment where the private sector can grow and create jobs is my top priority." -- Rep. Brian Bilbray (CA-50)
Congressman Bilbray's Legislation to Create and Protect Jobs For San Diegans:
"The Job Creation and Innovation Investment Act of 2011"
On March 11, Congressman Brian Bilbray (CA-50) introduced H.R. 1036, The Job Creation and Innovation Investment Act of 2011, in the House of Representatives to encourage U.S. companies to bring home more than $1 trillion of their capital overseas. With one in ten San Diegans out of work, it is essential to note that this bill is very important to many San Diego companies. This legislation would establish a tax holiday from the current 35 percent repatriation tax U.S. companies pay when they bring home foreign earned assets. More specifically, it establishes a zero percent tax rate for funds brought back to the United States that are invested in research and development, new manufacturing and facility expansion. If companies wish to use the money they bring back entirely at their own discretion then they will be subject to a 5.25 percent nominal tax rate, which still amounts to a nearly 30 percent reduction.
Congressman Bilbray Introduced Legislation To Repeal The $20 Billion Medical Device Tax:
“Buried within Obamacare is a $20 billion tax on innovative medical device companies that threatens the health of millions of Americans and is poised to destroy 112,000 California jobs. According to the California Healthcare Institute (CHI), California is home to 1,300 medical technology firms whose work and ideas help make California a leader in the industry and whose products alleviate suffering. Think of the young child with diabetes who longs for something better than painful insulin pricks. Think of people with chronic lung diseases who need ventilators to breathe. Think of the chemo patient whose portacath ensures nurses can always find a good place to stick a needle and help protect against infection. Think of the aging grandfather who will never be able to pick up his grandson because Nuvasive was unable to develop the latest spinal implant. Repealing the Medical Device tax would prevent the suffering of countless patients whose survival depends on innovation and prevent our economy from suffering as well.” -- Rep. Bilbray
Congressman Bilbray Appointed to Influential House Energy & Commerce Committee Where His Number One Priority Will Be Job Creation:
Congressman Brian Bilbray was appointed to the House Energy and Commerce Committee for the 112th Congress. Today one in ten San Diegans are unemployed making Congressman Bilbray’s first priority utilizing San Diego’s cutting edge industries to put his constituents back to work. San Diego is home to numerous companies and sectors that Energy and Commerce has jurisdiction over allowing Rep. Bilbray to work with his colleagues on the committee to help create jobs nationwide.
“America’s economic security is directly related to her energy security which is why I welcome the opportunity to work with my colleagues to ensure that our energy policy is based on science and capitalizes on America’s greatest strength, our entrepreneurs and innovators. A seat on this committee will allow me to harness the power and knowledge of San Diego’s biotechnology, renewable energy, and nuclear power communities and craft common sense solutions for health reform.” – Rep. Bilbray