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
Small businesses — those with fewer than 100 employees — fuel San Diego’s economy. They represent 98 percent of our firms and nearly 60 percent of our workforce. For a long time, the general narrative around supporting small business has been a call to action for people to “shop local.” That’s great, but it’s not enough.
Today, U.S. Congressman Scott Peters (CA-52) was elected as a New Democrat Coalition Vice Chair. The Coalition’s solutions-oriented mentality drives their commitment to collaboration and working across the political spectrum to find common ground. The New Democrat Coalition grew significantly with the election of dozens of new members this year and will be an important coalition as Democrats take the majority next session.
Today, on the 32nd anniversary of the Tax Reform Act, U.S. Congressman Scott Peters (CA-52) announced he was named a 2018 Fiscal Hero by the Campaign to Fix the Debt, a non-partisan group affiliated with the Committee for a Responsible Federal Budget, for his commitment to fiscal responsibility in government. Peters is one of just ten members of Congress to receive this award.
Earlier this month, U.S. Congressman Scott Peters (CA-52) was named a National Retail Federation 2018 Hero of Main Street, an award given to lawmakers who support policies that encourage innovation and a vibrant retail sector. The American retail sector supports one in four American jobs, and contributes more than $2.5 trillion to our country’s GDP.
Last week, U.S. Congressman Scott Peters (CA-52) was named a “2018 Beer Champion” by the Beer Institute for championing policies that support brewers and beer importers. Rep. Peters has called on the Department of Justice to investigate irregularities in aluminum prices that drive up costs for both beer makers and consumers.
Today, U.S. Congressman Scott Peters (CA-52) released a statement following the 5-4 Supreme Court Janus v. AFSCME decision, upending 40 years of precedent in collective bargaining rights:
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: