(AP Photo/Matthew Putney, File)
The Iowa Senator proposes to reduce unemployment by creating new world markets for goods and services, including agricultural, made in the United States.
"Trade agreements in recent years have proven their values. We've got agreements with countries like Chile, Morocco, Bahrain, Oman and the countries of Central America and the Dominican Republic. They've all turned trade deficits into surpluses," Grassley said in a statement to the Pilot-Tribune. "Trade surpluses were increased by trade agreements with Singapore, Australia and Peru. The same outcome could come from enacting trade agreements with Colombia, Panama and South Korea, which have been sidelined by this administration."
Grassley says immediate action should be taken in the area of international trade to help Iowa and American workers.
"I've worked closely with Republicans and Democrats in the House and Senate on trade issues over a long period of time, and want to do a lot more to expand market access for American farmers and workers in manufacturing and services," he says.
Grassley hs also introduced a bill to speed development of renewable, clean-burning energy, which he says will also create new jobs throughout rural America. "My bill extends the tax credit for the production of electricity from wind, which I was the father of when it was created back in 1992. And open-loop biomass as well, and to do this through December 31, 2016 so they've got an extended period of time to plan for it."
The Grassley bill increases the amount of bond authority for new renewable energy bonds. "And for all businesses, my bill extends bonus depreciation for one year, so that businesses are able to deduct half of the value of any property placed in service in 2010. This tax cut for businesses that invest in 2010 will quickly spur investment, and that will create badly needed jobs," the senator says.