Fond Du Lac Times

Congressman Glenn Grothman and Senator Ted Cruz have introduced the CREATE JOBS Act, a bicameral bill aimed at restoring certain provisions of the Tax Cuts and Jobs Act (TCJA) to incentivize domestic production. The bill is expected to create over one million full-time jobs in the United States.

The CREATE JOBS Act seeks to reinstate and make permanent two expired TCJA provisions that previously contributed to manufacturing growth and investment in the U.S. Additionally, it proposes neutral cost recovery for structures like factories. These measures are intended to strengthen manufacturing, increase wages, and generate well-paying jobs.

“The Tax Cuts and Jobs Act (TCJA) delivered major wins for American families and workers, but some of its most powerful tools for growth have already expired, hurting the competitiveness of the manufacturing industry,” said Grothman. He emphasized the impact on Wisconsin’s Sixth District, noting it as highly manufacturing-intensive.

Grothman further stated, “The bottom line is we must make these provisions permanent to support our manufacturers, restore what we know works, and expand policies that strengthen our economy and create jobs across the nation.”

Adam Michel from the Cato Institute commented on the bill's approach: “As Congress considers extending immediate deductions for research and equipment, it's long past time to give structures similar treatment.” He noted that updating cost recovery would be a significant pro-manufacturing reform.

Kurt Bauer of Wisconsin Manufacturers & Commerce praised Rep. Grothman's efforts: “WMC thanks Rep. Grothman for his leadership making the Wisconsin and American economies pro-business... The CREATE JOBS Act is common-sense policy that is positively pro-business.”

Background information highlights that by making bonus-depreciation and full-expensing for R&D permanent while applying neutral cost recovery to commercial structures, this legislation could potentially boost GDP by 5.1 percent and wages by 4.3 percent according to the Tax Foundation. This act has been introduced by Senator Cruz in previous years as well.

U.S. Rep. Glenn Grothman is currently serving his fifth term representing Wisconsin’s 6th Congressional District in Congress.