Hillary Clinton to propose $10 billion manufacturing investment

Last updated on September 25th, 2023 at 01:57 pm

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By Alana Wise

WASHINGTON (Reuters) – Democratic presidential candidate Hillary Clinton on Friday will propose a $10 billion investment in partnerships to encourage the growth of the U.S. manufacturing sector as part of a national push to discourage outsourcing in the industry.

The proposal would work with a broader campaign to encourage companies to build and expand their U.S. manufacturing operations.

Clinton is slated to roll out the proposal on Friday in Syracuse, New York, ahead of the state’s nominating contest on April 19.

New York has long been a hub of the manufacturing industry, but suffered significant declines in the sector in recent years. From 2000-2008, upstate New York alone lost nearly 105,000 manufacturing jobs, according to the state government.

Clinton maintains a lead in the state, which she represented in the U.S. Senate, over rival Bernie Sanders, a U.S. Senator from Vermont and a New York native.

Sanders was born and raised in New York City’s borough of Brooklyn. The Clinton campaign is headquartered there.

The campaign said the proposal’s multi-billion dollar price tag would largely be covered by Clinton’s proposed “clawback” tax, which would rescind tax relief for companies that outsource jobs or facilities abroad.

(Reporting by Alana Wise; Editing by Leslie Adler)