Here in my small city of Dyersburg,Tennessee we have several manufacturing plants with some of them tied to the auto industry.
On Friday two of the plants made an announcement of layoffs beginning in September. I believe the total people expected to be layed off is around 250 people.
One of these plants produces rubber used in cars and the other plant makes electric transformers(primarily for new construction).
The recent tax incentive that was just passed and signed by the president should help the housing industry once people understand how it works.
I believe the stimulus package earlier this year(that sent checks to all tax payers) was only partly successful and we need one more shot!
Here is my idea:
- Send all tax payers another tax rebate check 1/2 the amount they received earlier this year.
- Include with the check a notice if this check used to purchase a new car (made in the USA) then taxpayer would also be entitled to a tax rebate of say $1500 that could be given to the car dealerships as a down payment on the new car(car or truck must get gas mileage of 30 or more per gallon of gas or diesel).
- Announce the new car incentive to take effect Oct. 1, 2008 so car manufacturers can prepare for the increase in business.
You would have many many people then buying new cars and then this money would trickle down to the factories hiring employees who make materials used in these new cars.
These incentives in addition to the election being behind us(assuming people make the right choice for president) should jump start our economy into the new year.