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senate Bill S. 1551

Would 'Economic Freedom Zones' With Lower Taxes & Less Regulation Drive Job Growth in Impoverished Areas?

Argument in favor

This bill would incentivize entrepreneurs to invest and create jobs in economically depressed communities to revitalize themselves, and it doesn’t require a federal bailout or stimulus.

David's Opinion
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07/30/2017
No one is forcing you to work in these areas. These would be places where those wanting better employment opportunities with the trade off of less regulation would flock. Think Hong Kong. Folks from communist China flocked there because it lacked any regulation on its economy. This is not "exploitation" because everyone working there would work there willingly.
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Ben's Opinion
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07/30/2017
It's great there are details for employers, but there needs to be s vehicle for citizen/employees. Some have debt, how about credit counseling. Resources on nutrition, a community center if there isn't one with ample recreation opportunities. If there is no access to fresh, healthy food, this needs to be done, it doesn't have to be done by the government. What I'm saying is people need healthy food, resources about good nutrition, recreational opportunities, and being able to take care of their finances while working and getting paid a meaningful wage that allows them to live adequately for their area. The federal government doesn't have to provide everything, maybe it comes from another place, but they should have oversight. Good idea, let's build on it.
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Mart's Opinion
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07/30/2017
Is this a serious question? Less taxes, less regulation, more freedom, we'd all flourish!
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Argument opposed

Economically distressed communities will need more assistance than just tax breaks. This bill doesn’t provide for government spending on infrastructure and public services.

Cristina's Opinion
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07/30/2017
Tax breaks, yes. Fewer regulations, no. These areas need infrastructure and training programs, not a free ride for businesses.
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Rachelle's Opinion
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07/30/2017
The only businesses that will swoop in to "save the poor" will be those businesses willing to take advantage of the poor's DIS-advantage. They will make Widget 1 and Widget 2 and, because there is no skill involved, will pay barely above minimum wage. They'll rake in big profits just so they can turn the poor into working-class-poor. Like drones. But I get where the administration is going...bring back jobs from overseas where labor is cheap and invest in our own people...but if you think Big Business will be the Robin Hood these areas need, you simply need to look into foreign factory worker wages and conditions to scare the hell out of you and vote no. These profiteers won't save our poor the same way they won't save their poor...even when they clearly could do more with their increased bottom lines.
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TheJacobin's Opinion
···
07/30/2017
Regulations are in place to protect workers from unscrupulous business practices, and to ensure employees are treated fairly by their employers. Helping impoverished Americans is critical, but there is just too much opportunity for abuse and exploitation in a system like this.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Finance
    IntroducedJuly 13th, 2017
    No one is forcing you to work in these areas. These would be places where those wanting better employment opportunities with the trade off of less regulation would flock. Think Hong Kong. Folks from communist China flocked there because it lacked any regulation on its economy. This is not "exploitation" because everyone working there would work there willingly.
    Like (34)
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    Tax breaks, yes. Fewer regulations, no. These areas need infrastructure and training programs, not a free ride for businesses.
    Like (221)
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    The only businesses that will swoop in to "save the poor" will be those businesses willing to take advantage of the poor's DIS-advantage. They will make Widget 1 and Widget 2 and, because there is no skill involved, will pay barely above minimum wage. They'll rake in big profits just so they can turn the poor into working-class-poor. Like drones. But I get where the administration is going...bring back jobs from overseas where labor is cheap and invest in our own people...but if you think Big Business will be the Robin Hood these areas need, you simply need to look into foreign factory worker wages and conditions to scare the hell out of you and vote no. These profiteers won't save our poor the same way they won't save their poor...even when they clearly could do more with their increased bottom lines.
    Like (161)
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    Regulations are in place to protect workers from unscrupulous business practices, and to ensure employees are treated fairly by their employers. Helping impoverished Americans is critical, but there is just too much opportunity for abuse and exploitation in a system like this.
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    Legislation like this is exactly how big business can swoop in and make a profit off of the backs of the poor. Diminished regulations do not protect anything but profit.
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    This is truly a tax cut for the rich who will open businesses there and exploit citizens. Cannot believe this is even being discussed. Actually, after the absurd police rally where they were told it is alright to brutalize citizens, I can. Revolting.
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    Providing loopholes to regulations and taxes is not a good way to help depressed areas. We see all the time how the businesses prosper and the actual people who live in the areas don't benefit at all. Infact they often end up in a worse plight. Recently I read about how Jared Kushner's company twisted zoning rules to capitalize on incentives put in place to benefit economically depressed areas with NO benefit to the people who lived there. This is just another boondoggle for businesses. What we will end up with is pockets where the environment is degraded more and the people are exploited. Citizens, not corporations, should come first. Businesses are not the cure all for societies ills. A functioning government is our best hope, we need one that is guided by moral and ethical norms, not corporate profit levels.
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    It's great there are details for employers, but there needs to be s vehicle for citizen/employees. Some have debt, how about credit counseling. Resources on nutrition, a community center if there isn't one with ample recreation opportunities. If there is no access to fresh, healthy food, this needs to be done, it doesn't have to be done by the government. What I'm saying is people need healthy food, resources about good nutrition, recreational opportunities, and being able to take care of their finances while working and getting paid a meaningful wage that allows them to live adequately for their area. The federal government doesn't have to provide everything, maybe it comes from another place, but they should have oversight. Good idea, let's build on it.
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    A more effective program would take all of the corporate welfare and entitlements from large corporations and provide them to smaller, disadvantaged companies to help level the playing field. Another smoke and mirrors Conservative tactic that will benefit the 1% and Corporations to take advantage of disadvantaged communities and citizens. You basically want an environment where the wealthy can swoop in and purchase property at a steal, in the name of economic improvements, and push the poor out, while you make millions in profits with no Government oversight to make sure everything is performed ethically.
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    What this bill would say if it was honest: we want to further exploit poor communities and communities of color and want to trick moderates into voting for it. Tell me who this benefit beside the top 1% who owns the companies.
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    Is this a serious question? Less taxes, less regulation, more freedom, we'd all flourish!
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    I smell a rat. No federal loans? Does that include V.A. loans? How does this affect Federal grants to educational & research institutions? What regulations are being done away with? Workplace safety? Banning EPA regs could lead to them polluting & leaving a toxic waste site we would then have to pay to clean up, plus the cost to the health of the poor people this bill is allegedly trying to help. 0% tax on income of the wealthy? Really? Ridiculous! Cut the capital gains tax in half, okay. But zero? While poor people are still taxed on their subsistence level income. That is just wrong. I think this bill is a wolf in sheep's clothing.
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    A chance to create incentive for jobs in America is one that must be seized.
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    This bill would incentivize entrepreneurs to invest and create jobs in economically depressed communities to revitalize themselves, and it doesn’t require a federal bailout or stimulus. This is a good way to kick start economically depressed areas and provide opportunities that would not exist otherwise.
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    Sounds like a great way to take advantage of working class citizens. There are regulations in place for a reason.
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    Here's a shocker- most businesses not only flourish with less cost (taxes, regulations) but seek those opportunities. The need to limit it to undesirable locations only highlights that both are not conducive to business growth and the government recognizes that fact. Why not change them across the board for everyone?
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    Special economic zones/export processing zones are prevalent throughout the developing world and have had disastrous consequences on labor rights and have resulted in environmental degradation time and time again. This promotes corporate power over the most vulnerable portions of our population.
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    Batshit crazy idea. Fewer business regulations where poor people live? I wonder what will happen.
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    No! This happens already and it drains state coffers. This won't help local business. It's only going to allow corporations to take aft of more tax breaks.
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    This is pure Libertarian Propaganda that has been kicking around since the 80s and it was the brainchild of Jack Kemp. The Koch Brothers have kept it alive through Astroturfing. Kill this Undead Zombie once and for all!
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