11:03 a.m.: NAM chair Mary Andringa: “Manufacturing means jobs!”
11:04 a.m.: Iowa Gov. Terry Branstad: Most important issue facing America is jobs.
11:06 a.m.: Hearing from America’s manufacturing workers. Over 12 million Americans work in modern manufacturing.
11:07 a.m.: Each candidate will answer questions from moderators Tom Hudson and Governor Branstad and audience.
11:08 a.m.: Gov. Rick Perry up first.
11:08 a.m.: Perry: Texas created 1 million net new jobs with Perry as governor.
11:09 a.m.: Perry hits EPA regulations.
11:10 a.m.: Perry: People have lost confidence to take risks.
11:10 a.m.: Perry: Way to create jobs is not by overtaxing, overregulating, over-litigating.
11:11 a.m.: Perry: Federal government needs to be completely out of the energy business picking winners and losers.
11:12 a.m.: Perry: Let states decide whether to offer energy incentives.
11:13 a.m.: Let private sector and market decide winners and users.
11:14 a.m.: Energy policy: Did you manufacturers consumer one-third of the energy output in the U.S.? Affordable and accessible energy is critical to manufacturing’s growth.
11:15 a.m.: Perry: “All of the above” energy policy.
11:17 a.m.: Perry supports Keystone pipeline. Knows that oil will go somewhere–why not the U.S.?
11:18 a.m.: Perry: create jobs in the energy sector; develop energy safely and cleanly and put people to work.
11:19 a.m.: Skills gap.
11:20 a.m.: Perry: College costs too high. Consider new approaches to education that can give students the skills they need and help bring down costs.
11:21 a.m.: Perry has his flat tax postcard.
11:22 a.m.: Perry will take a “wrecking ball” to the corporate tax code and personal tax code as well.
11:23 a.m.: Perry: Let’s quit penalizing Americans for making money.
11:23 a.m.: Rick Santorum up now.
11: 24 a.m.: Santorum: Manufacturing has a great multiplier effect in the economy.
11:25 a.m.: Santorum touts the promise of manufacturing jobs. Did you know the average manufacturing earns $77,186 in pay and benefits annually? $20,000 more than average workers in other industries.
11:26 a.m.: Santorum has read the Manufacturing Institute’s and MAPI’s new cost study: 20 percent more expensive to manufacture in the U.S.
11: 28 a.m.: Santorum: GOP president would change attitude in DC and country.
11:29 a.m.: Santorum: Phase out energy tax credits.
11:3o a.m.: Santorum: Take advantage of Marcellus Shale in his home state of Pennsylvania.
11:31 a.m.: Santorum on infrastructure: Need for a federal role–in therms of interstate commerce. Trucks go through PA without stopping.
11:32 a.m.: Santorum on Dodd-Frank financial bill: Repeal it. I’m against “too big too fail.”
11:34 a.m.: Santorum: Dodd-Frank hurts small banks.
11:34 a.m.: Question from audience: What would Santorum do first? Santorum: “Repeal Obamacare.”
11:35 a.m.: Santorum: Repeal the whole thing. Not just waivers for states. Job No. 1.
11:36 a.m.: Repeal health law–what replaces it?
11:37 a.m.: Santorum highlights HSAs. Get consumers involved in marketplace with regard to prices and quality… Consumer-driven health care.
11:38 a.m.: Next up: Rep. Bachmann.
11:39 a.m.: Bachmann: We need the federal government to get off our backs with regard to taxes.
11:40 a.m.: Bachmann: Taxes, regulation, tort, energy–need good policies on all fronts.
11:40 a.m.: Bachmann: 95 percent of consumers live outside the United States.
11:41 a.m.: Bachmann: Government is a cost of doing business.
11:42 a.m.: Bachmann: Grow our market share. U.S. only negotiating one FTA among dozens around the world.
11: 43 a.m.: Businesses going to Canada? Canada has reduced its corporate tax rate–soon to decrease to 15 percent.
11:46 a.m.: Bachmann: Let multinationals repatriate their earnings overseas.
11:47 a.m.: Taxes and regulations big burden on manufacturers.
11:48 a.m.: Question about tax reform. Bachmann: Simplify code. 100 percent expensing. Flatten corporate tax rate. Extend R&D credit.
11:49 a.m.: Bachmann: Businesses have no idea what is going to come out of Washington when they wake up in the morning.
11:50 a.m.: Bachmann: Need true tort reform.
11:52 a.m.: Bachmann: Manufacturing is the backbone of our economy.
11: 53 a.m.: Bachmann highlights skills gap.
11: 54 a.m.: Ron Paul is on stage.
11: 54 a.m.: Paul: Look at regulations, tax and monetary policy.
11: 56 a.m.: Paul: Don’t neglect currency.
11:56 a.m.: Paul on trade deals: Wants low tariffs, but skeptical of international arrangements.
11:57 a.m.: Paul: No tax on repatriation. Corporate tax rate at 15 percent.
11: 58 a.m.: Paul: Problem is big spending.
11:59 a.m.: Paul: Spending cut 60 percent after WWII.
11:59 a.m.: Paul: Cut $1 trillion and eliminate five departments. Economy would boom.
Noon: Paul: Stimulus doesn’t work. Cleanse the system. Get rid of the debt.
12:01 p.m.: Question on housing industry.
12:02 p.m.: Paul: Get rid of the bubble.
12:02 p.m.: Paul: Nothing market oriented about our interest rates.
12:04 p.m.: Paul: We’ve wrecked the economy. Young people begging and pleading for jobs.
12:05 p.m.: Paul on Occupy Wall Street: Forgive student loans? Paul: Loans shouldn’t be forgiven. Need to create jobs for students.
12:06 p.m.: What would you like to hear from Bernanke tomorrow? Paul: That he is resigning.
12:08 p.m.: Paul: Dollar still respected compared to euro, yen, but limit to how much weight you can put on dollar.
12:09 p.m.: Paul: Americans want a transparent Federal Reserve.
12:09 p.m.: And now former Speaker Gingrich.
12:10 p.m.: Gingrich: Require training as condition for unemployment benefits.
12:11 p.m.: Gingrich: Best trained workforce plus most modern equipment = win.
12: 12 p.m.: Gingrich: Economy has structural problem–the government.
12: 13 p.m.: This country has been maniacally anti-jobs. Can’t blame job creators.
12: 14 p.m.: Gingrich’s plan for competitiveness: Repeal Dodd-Frank; repeal Sarbanes-Oxley; zero capital gains tax; eliminate double taxation of dividends; 12.5 percent corporate tax rate; optional flat tax; 100 percent expensing.
12:15 p.m.: Gingrich: Why would you want government making moral judgments about what companies should do with repatriated dollars.
12:17 p.m.: Gingrich: Very aggressively have the most open markets.
12:18 p.m.: Gingrich: Make it advantageous to sell America around the world.
12:19 p.m.: Gingrich: We don’t hire President’s to be foreign purchasing agents. We hire them to be salesman for our country.
12:20 p.m.: Gingrich: Abolish Department of energy. Reform Interior, BLM.
12:21 p.m.: Gingrich: Develop more domestic energy.
12:22 p.m.: Gingrich: U.S. gov important in basic research.
12:23 p.m.: Gingrich: Create an environment that promotes growth–not pick winners and losers.
12:24 p.m.: Gingrich: Fundamentally change current congressional behaviors.
12:25 p.m.: That’s all from Pella. Thanks to Vermeer for hosting and the two moderators.
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