Monday, November 24th, 2014

Promises about Corporations on The Obameter

Eliminate all oil and gas tax loopholes

"Eliminating special tax breaks for oil and gas companies: including repealing special expensing rules, foreign tax credit benefits, and manufacturing deductions for oil and gas firms."

Create an Advanced Manufacturing Fund to invest in peer-reviewed manufacturing processes

"Will create an Advanced Manufacturing Fund to identify and invest in the most compelling advanced manufacturing strategies. The Fund will have a peer-review selection and award process based on the Michigan 21st Century Jobs Fund, a state-level initiative that has awarded over $125 million to Michigan businesses with the most innovative proposals to create new products and new jobs in the state."

Double funding for the Manufacturing Extension Partnership, a program that encourages manufacturing efficiency

"The Manufacturing Extension Partnership (MEP) works with manufacturers across the country to improve efficiency, implement new technology and strengthen company growth. This highly-successful program has engaged in more than 350,000 projects across the country and in 2006 alone, helped create and protect over 50,000 jobs. But despite this success, funding for MEP has been slashed by the Bush administration. Barack Obama and Joe Biden will double funding for the MEP so its training centers can continue to bolster the competitiveness of U.S. manufacturers."

Require publicly traded financial partnerships to pay the corporate income tax

Require publicly traded financial partnerships to pay the corporate income tax.

Create an international tax haven watch list

Create an international tax haven watch list of countries that do not share information returns with the United States.

Close loopholes in the corporate tax deductibility of CEO pay

Congress has set rules regarding the tax deductibility of the salaries of CEOs, but forms of non-salary compensation have become popular. Obama would look at revamping definitions of compensation.

Forbid companies in bankruptcy from giving executives bonuses

"Protect the jobs and benefits of workers and retirees when corporations file for bankruptcy by telling companies that they cannot issue bonuses for executives during bankruptcy while their workers watch their pensions disappear."

Require large employers to contribute to a national health plan

"Large employers that do not offer meaningful coverage or make a meaningful contribution to the cost of quality health coverage for their employees will be required to contribute a percentage of payroll toward the costs of the national plan. Small businesses will be exempt from this requirement."

Prevent drug companies from blocking generic drugs

"Prevent drug companies from blocking generic drugs from consumers."

Reimburse employer health plans for a portion of catastrophic costs

"Reimburse employer health plans for a portion of the catastrophic costs they incur above a threshold if they guarantee such savings are used to reduce the cost of workers' premiums."

Set standards for when the government should hire defense contractors

"Require the Pentagon to develop a strategy for figuring out when contracting makes sense and when it doesn't, rather than continually handing off governmental jobs to well-connected companies."

Clarify legal status for defense contractor personnel

"Establish the legal status of contractor personnel, making possible prosecution of any abuses committed by private military contractors."

Restore the government's ability to manage contracts by rebuilding our contract officer corps

"Restore the government's ability to manage contracts, by rebuilding our contract officer corps."

Create a system of incentives and penalties for defense contracts

"Enact a program of market incentives and sanctions for Pentagon contractors, just like any other good business client would use, to reward companies that perform well and come in under budget, while punishing firms that fail to perform as originally hired."

Require companies to disclose personal information data breaches

"California and other states have laws requiring a company that may have disclosed a resident's personal information without authorization to inform the victim of the disclosure. Barack Obama and Joe Biden believe that all Americans deserve the same right to know and will push for comparable federal legislation."

Create a public "Contracts and Influence" database

"Will create a 'contracts and influence' database that will disclose how much federal contractors spend on lobbying, and what contracts they are getting and how well they complete them."

Increase the minimum wage to $9.50 an hour

"Will further raise the minimum wage to $9.50 an hour by 2011, index it to inflation and increase the Earned Income Tax Credit to make sure that full-time workers can earn a living wage that allows them to raise their families and pay for basic needs such as food, transportation, and housing."

Use the private sector to improve spaceflight

"Will stimulate efforts within the private sector to develop and demonstrate spaceflight capabilities."

Increase commercialization benefits from technology

"Will promote cost sharing initiatives between government and industry to increase the state of the art in various technical areas, such as microelectromechanical systems, nanotechnology, and biotechnology. Obama will establish multi-agency programs that focus on rapid maturation of advanced concepts and transfer to industry for commercialization."

Support commercial access to space

"Will stimulate the commercial use of space and private sector utilization of the International Space Station. He will establish new processes and procurement goals to promote the use of government facilities."