PERSPECTIVES

Ryan: Foxconn deal is a game-changer for Wisconsin

Paul D. Ryan

By now, you have likely heard the good news. The electronics giant Foxconn is coming to Wisconsin, with plans to add 13,000 jobs, in total, in our region.

This is an absolute game-changer. It means more good-paying jobs and opportunities for hard-working Wisconsinites. And it shows the rest of the country — and the world —that our area truly is a manufacturing powerhouse.

At least seven states were hoping to land Foxconn, including Ohio, Michigan and Indiana. It was a real fight. But from the start, Gov. Scott Walker led a full-court press, and I was glad he asked me to get involved.

I could not have been more excited to make our case to Foxconn’s CEO, Terry Gou. It went something like this: I was born and raised in southeastern Wisconsin. In the late 2000s, Wisconsin suffered manufacturing losses, and it was devastating for people all across southeastern Wisconsin. But Wisconsinites are resilient — in the face of adversity, we push through. And today, manufacturing in Wisconsin has made a remarkable comeback, and things are only getting better.

Right now, Wisconsin is among the top five states in the nation in terms of the total workforce employed by manufacturers. Our unemployment rate is the lowest it has been in the last 17 years. But we can’t lose our edge. We want to make sure the Badger State is the best place in the country to do business. Foxconn’s decision is proof that we are on the right track.

Of course, there is a lot more we can do, especially on the national level. Take taxes. Right now, we have this crazy system in which successful small businesses in our country pay a top marginal tax rate of 44.6%. And our overall corporate tax rate is 35%.

To put that in perspective, overseas — which for us means Lake Superior — companies in Canada pay just 15%. It’s crazy.

We clearly need to fix our tax code. Our committees in Congress are working on a bold plan as we speak. This is something I have been talking about lately with workers throughout Wisconsin, including employees at Allis-Roller, LDV, InPro, Geneva Supply and InSinkErator.

With tax reform, you get tax cuts that will ease the burden on you and your family. You get a simpler tax code — so simple that you can do your taxes on a form the size of a postcard. (Wouldn’t that be something?) And you get real fairness — fewer loopholes for special interests and a level playing field for everyone.

The bottom line is that, through all the drama and distractions in Washington, we are focused on the real problems that you care about — especially when it comes to jobs and paychecks. Already, we have eliminated a number of bad regulations from the books, saving billions of dollars. We have passed reforms to improve job training and expand career and technical education. And we have passed our plan to replace the Dodd-Frank law with real relief for the small businesses and community banks on Main Street. I know you may not always hear about these things in the news, but they are happening.

Make no mistake, tax reform is the crown jewel of our economic agenda. It is the biggest thing we can do to assure more jobs and real prosperity for the next generation.

Foxconn’s decision is exciting, but it is just one step. In Congress, I will continue to fight for pro-employee, pro-business, pro-job policies. It’s what my employers in the 1st District care about, and it’s a privilege to fight for them in Washington.

Rep. Paul Ryan is speaker of the House and represents the 1st District of Wisconsin in Congress.