Jobs & Economy
Too many San Diegans and Americans across the country are still hurting from one of the toughest recessions in our nation’s history. That’s why Congress needs to invest in programs that grow our economy and foster an atmosphere for job creation. To do this, we must bolster the pillars of San Diego’s economic engine: innovation and scientific research, the military, national defense, and our veterans; and our world-renowned tourism industry. At the heart of America is the idea that you can start your own business and build it to be successful. In San Diego, we know a commitment to supporting entrepreneurs and startups is essential to economic progress and creating jobs. We can help level the playing field by increasing access capital and talent and decreasing overly burdensome by government regulations, which will help small businesses thrive. With the right leadership and policies, San Diego is primed to have a prominent and resilient economy for generations to come.
Representative Scott Peters Working to Spur Growth for San Diego’s Economy
Read my full plan – “Growing the Economy and Creating Jobs in San Diego and Across the Country” – HERE
Advancing the Innovation Economy, Scientific Research, & San Diego’s Talent-Rich Environment
San Diego is home to numerous innovative companies and research institutions. We must engage the bevy of talented institutions to drive our economy forward. In 2013, our institutions compiled $785M in National Institutes of Health (NIH) awards, which encompassed nearly one fourth of California’s total. The following has been done to accomplish this goal:
- I hosted successful roundtables and symposia with community and business leaders to discuss how Washington can support San Diego’s Innovation Economy.
- Introduced the Igniting American Research Act which will expand and make permanent the Research and Development Tax Credit. According to the Information Technology and Innovation Foundation, the act will generate 150,000 jobs and increase GDP by $66B.
- As a member of the Congressional Caucus on Innovation and Entrepreneurship, I introduced a resolution for one day each year as National Entrepreneur’s Day in memory of San Diego Innovator, Duane Roth.
- Support the repeal of the medical device excise tax, which will aid an industry that employs 3,200 San Diegans and delivers an economic impact of $2.629 billion dollars each year to the economy.
- I was awarded the 2014 Visionary Award by the non-partisan California Healthcare Institute (CHI) for introducing the Health Savings Through Technology Act which will facilitate the incorporation of wireless health technologies into federal health care programs.
- I am leading an initiative to increase NIH funding by nearly $5 billion to reach the level of $35 billion in coming years. Research by the Milken Institute suggests that $1 of NIH funding in biomedical research generates $2.21 in economic output.
Ensure Benefits and Growth Opportunities for Military and Veterans
The San Diego region is home to one of the largest concentrations of military force in the entire world. In the region, the military supports 317,000 jobs and $38.7 billion in gross regional product. As a member of the House Armed Services Committee, I advocate for the men and women who serve, and for the 225,000 veterans in the County.
- Introduced the 21st Century Care for Military and Veterans act to expand coverage of telehealth to servicemembers, veterans, and their dependents by including wireless services in the TRICARE and VA health systems.
- Introduced the Department of Defense Energy Security Act which will help the DOD reduce energy use, boost combat effectiveness, and expedite the development of advanced military technologies. The Navy is exploring alternative fuel sources, including biofuels such as algae, and San Diego---a national center for algae research--- is in strong position to benefit.
- Introduced the Veterans Employment Transition Act, which will give employers a tax credit for hiring recently discharged veterans, and will improve job training programs between the Department of Veteran Affairs (VA), Department of Defense, and the Department of Labor.
- Voted to enhance VA on-the-job training programs to create an office within the VA focused on vocational and education programs, and to support federal contracting with small businesses that are owned by veterans.
Generate Economic Growth by Stimulating Tourism
I understand the importance of the tourism industry to the San Diego economy. Each year, over 33 million people visit our district to enjoy the weather, natural beauty, and abundant local attractions. That’s why I advocate for legislation that will support the flourishing tourism industry which accounts for 158,000 San Diego jobs.
- I supported legislation to expedite the visa interview process which will increase the number of international tourists visiting the United States, many of whom will come to San Diego.
- Supported a proposal, which passed the House, to continue the public-private partnerships that have been created to foster tourism and job creation in the United States.
- Introduced the Safe and Secure Border Infrastructure Act, which will improve efficiency and security at our nation’s busiest border crossings
Helping Small Businesses Succeed
By helping small businesses access capital and talent and compete on a level playing field, and decreasing overly burdensome by government regulations, we can help small businesses thrive. Click below to read my full plan.
More on Jobs & Economy
The United States entered the 21st century as the world’s undeniable economic leader.
After World War II, the United States led the transition to a peacetime, global economy and the United States prospered as other nations invested in our goods, services and industries. In the decades after, our economic and political strategy hinged on open markets, booming international trade, and avoiding conflict.
U.S. regulators ordered a delay in Qualcomm’s annual shareholder meeting, which was scheduled Tuesday, so they can review a proposed $117 billion hostile takeover bid by Broadcom for national security concerns.
The unusual move late Sunday by the interagency Committee for Foreign Investment in the U.S. comes as several lawmakers called for the review.
Today, U.S. Congressman Scott Peters (CA-52) released the following statement after hearing President Trump’s first State of the Union Address:
Betsy Brennan, 42, has been named CEO of the Downtown San Diego Partnership, a membership organization of downtown businesses.
Today, U.S. Congressman Scott Peters (CA-52) voiced strong opposition to the Trump Administration’s request for $18 billion over the next decade to expand the United States’ southwest border wall. If granted, the funding would expand the existing border barrier by more than 700 miles.
Today, U.S. Congressman Scott Peters (CA-52) voted against the Republican tax bill that was pushed through the U.S. House of Representatives on a party-line vote. The bill raises taxes dramatically for Californians, increases the deficit by $1.5 trillion through unpaid tax cuts that will shrink the economy and lead to fewer good jobs for America’s working families.
Yesterday, U.S. Congressman Scott Peters (CA-52) helped pass two resolutions to reaffirm the United States House of Representatives’ strong commitment to the United States-Mexico and United States-Canada partnerships. These two strategic partnerships are essential to the United States to advance economic opportunities, strengthen border security, combat terrorism, and encourage bilateral cooperation when addressing environmental concerns, human trafficking, and smuggling of narcotics.
WASHINGTON, DC– Today, U.S. Congressman Scott Peters (CA-52) spoke on the floor of the U.S. House of Representatives to deliver a strong rebuke of the GOP Tax Plan that will balloon the national deficit by $1.5 trillion, fails to give real tax relief to American families who need it most, and will not boost economic growth for our nation. In his speech, he urged real, bipartisan work toward real tax reform and pledged to work with his Republican colleagues if they are willing to put country before party.
Today, U.S. Congressman Scott Peters (CA-52) strongly opposed the tax reform bill passed on a party-line vote on the House floor today. The Tax Cuts and Jobs Act (TCJA) calls for unpaid tax cuts that will increase our national debt by at least $1.5 trillion, shrink the economy, and eliminate American jobs. This plan will raise taxes for Californians dramatically.
Today, the House Judiciary Committee passed the Project and Grow American Jobs Act. U.S. Congressman Scott Peters (CA-52) introduced the bill with Rep. Darrell Issa to reform the H-1B visa system to help prevent outsourcing of American jobs. The H-1B program is an important program, created to help grow the economy by granting temporary visas to highly-skilled professionals. In recent years, some companies have begun to abuse loopholes in the system that allow them to offshore jobs, hurting American workers in the process.