Jobs & Economy
My number one priority in Congress is creating jobs and growing our economy. <br />
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<b>Investing in Infrastructure</b><br />
One of the best ways to create jobs is to put people to work fixing our roads, bridges, overpasses and waterways. That is why last Congress I co-authored an infrastructure jobs bill in the House that was fully paid for and would have funded transportation and infrastructure projects for two years. The U.S. Department of Transportation estimated that the legislation would have created 177,500 jobs in California alone.<br />
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I also co-authored a bipartisan port improvement bill that has gained 187 co-sponsors. This legislation would fund dredging projects, creating jobs for the people who do the dredging and helping our local economy by making our marinas, ports and harbors more accessible for business.<br />
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Not only do smart investments in infrastructure and port improvements create jobs, but they also reduce hidden taxes on businesses and communities. A March 2013 report by the American Society of Civil Engineers (ASCE) found that the poor condition of California's roads costs drivers nearly $14 billion a year in repairs and operating costs. <br />
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We have to build an economy that can compete long-term. One of the best ways to do that is to make sure our district continues to grow as a national leader in the development and manufacturing of clean energy technology. <br />
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<b>Property-Assessed Clean Energy (PACE) Program</b><br />
I am working with colleagues on both sides of the aisle on a program called the Property-Assessed Clean Energy program, or PACE, that’s seen tremendous success in parts of our district. <br />
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In 2009, I worked to get PACE language into the American Recovery and Reinvestment Act (ARRA). This language allows property owners to finance the purchase and installation of energy retrofits to their homes and businesses. <br />
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This program provides homeowners and businesses with a way to pay for retrofits to make buildings more energy efficient. And it doesn’t cost taxpayers a dime. <br />
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Since Sonoma County has started its PACE program, more than 2,000 commercial, residential, energy efficiency and water conservation projects have been undertaken. The county estimates the retrofits have pumped more than $58 million back into the local economy and have supported more than 700 jobs. <br />
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Today, I am working to pass additional legislation that will make sure every county has an opportunity to start a successful PACE program. <br />
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<b>Protecting Geothermal Royalties</b><br />
We have to protect geothermal energy and the money it bring into our communities. When geothermal revenue sharing was suspended in 2010, I authored and passed legislation that restored the payments to counties. <br />
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I am continuing to work with my colleagues on both sides of the aisle to protect geothermal revenues from future budget cuts. <br />
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Geothermal energy is good for our environment, reduces our dependence on foreign oil, and helps our economy by spurring green job creation. <br />
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In 2011, our district received nearly $2 million in geothermal royalties. That money is used to pay for governmental services, such as road maintenance, public safety and law enforcement, related to the geothermal field. <br />
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Repealing geothermal royalty payments is a short sighted plan that will do nothing to reduce our deficit. And it is not fiscally responsible. It would kill jobs, cripple future green job growth, and slow our economic recovery – all of which will only make our deficit larger. I will continue to fight against these cuts, because if a community invests in developing geothermal energy, they deserve to get their fair share in returns. <br />
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<b>Supporting Small Businesses</b><br />
I am working to support our district’s small businesses. Last Congress I introduced bipartisan legislation to simplify the tax code for small businesses. No matter which side of the aisle you’re on, we should all be able to agree that simplifying taxes for small businesses is good policy. This bill will save small businesses time, paperwork and headaches during tax season by expanding cash accounting, allowing them to focus their efforts on what they do best – growing their businesses – not on complicated accounting practices.<br />
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<b>Investing in Education</b><br />
Finally, for our long-term economic growth, we must invest in education and worker retraining so that our nation continues to have the world’s best entrepreneurs and innovators to compete in a global economy. That is why I have consistently supported funding need-based grants at their highest level so students can afford college. And it is why I co-authored legislation that would freeze some student loan interest rates and prevent them from doubling. This will save an average middle-class family about $1,000 a year. <br />
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Infrastructure, investments in new economic engines like energy, support for small businesses, and education – these are the keys to creating jobs and building a strong American economy for years to come.
“This bill will do nothing to create jobs and adds $46 billion to the deficit,” said Thompson. “Instead of spending $46 billion of borrowed money on tax breaks we can't afford, we should help small businesses by investing in job creation so folks can afford the goods and services our small businesses provide.”
On any typical day, millions of families, farmers and fishermen in and around the Sacramento-San Joaquin Bay Delta rely on the Delta for their water and livelihoods. Commercial and recreational fishermen have relied on Delta-dependent salmon populations for centuries. The Delta is a vital estuary that supports farmland, fisheries, small businesses and more than 750 plant and wildlife species.
Congressmen Mike Thompson (CA-01) and Chris Gibson (NY-20) announced today that they have joined together to introduce H.R. 4096, The Storage Technology for Renewable and Green Energy 2012 Act (STORAGE) in the United States House of Representatives. The STORAGE Act would provide a tax credit to individuals and businesses when they invest in energy storage systems.
The legislation passed the House by a vote of 246-175, and now goes to the Senate for consideration. The lawmakers responded today after the vote:
California members of Congress have stepped up their demands for help for homeowners amid the continuing national foreclosure crisis that has impacted millions of Americans.
A unilateral decision by Federal Housing Finance Agency (FHFA) to block all forms of principal writedown for loans backed by Fannie Mae and Freddie Mac has prevented the housing market from recovering more quickly, said U.S. Reps. George Miller (D-Martinez) and Mike Thompson (D-St. Helena), who on Monday ramped up pressure on the FHFA to reverse the decision that has stymied a more buoyant housing recovery.
Congressman Mike Thompson (CA-1) is leading a group of representatives in calling on President Obama to protect the U.S. agricultural workforce from a harmful “enforcement-only” approach to immigration reform.
In a letter to the president, Thompson and his colleagues in the House wrote that if only mandatory worker verification methods like E-Verify were implemented without regard to workers and employers, it would risk the economic vitality of the entire American agricultural industry.
Representatives Mike Thompson (CA-1) and Lynn Woolsey (CA-6) today introduced an amendment to ban drilling on of California's North Coast. H.R. 3408, the Protecting Investment in Oil Shale the Next Generation of Environmental, Energy, and Resource Security Act would automatically open the Eastern Gulf of Mexico, Alaska's Bristol Bay, Southern California, and the Virginia coast for oil and gas leasing. The bill could also potentially open up California's North Coast to drilling - even if the state objects to offshore drilling in the region.