Will U.S. Oil and Gas Manufacturers Be Included?
"If you’re an American manufacturer, you should get a bigger tax cut. If you’re a high-tech manufacturer, we should double the tax deduction you get for making products here. And if you want to relocate in a community that was hit hard when a factory left town, you should get help financing a new plant, equipment, or training for new workers.
1. Will Obama include U.S. oil companies in the group of American manufacturers that qualify for a "bigger tax cut?"
2. Will oil and gas companies using advanced technologies like hydraulic fracturing (and the "super-fracking" technologies that are under development) qualify as "high-tech manufacturers" and get a double tax deduction for "high-tech" domestic energy production?
3. Will some of the oil and gas companies get any credit for re-vitalizing some formerly depressed communities in North Dakota and rust-belt states like Ohio and Pennsylvania, and creating jobs in America (see chart above)?
4. Will oil and gas companies (and other American manufacturers supporting the oil and gas industries with steel pipes, drilling equipment and sand, etc.) that create jobs in America, get rewarded with help financing new plants, equipment, or training for new workers for future energy production and the manufactured products that support the industry?
Somehow I don't think Obama was thinking of oil and gas companies when he talked about "American manufacturing," and I don't think he gives any credit to thousands of American energy-related jobs that have already been created thanks to advanced "high-tech" fracking techniques that created the "shale revolution" (see chart above).
Update: Marko in the comments section asks "By saying that he wants to cut taxes in certain sectors to encourage or help them, doesn't Obama admit that higher taxes hurt business?"