Sen. Portman proposes tax changes for job creation in auto industry

Sen. Portman proposes tax changes for job creation in auto industry

TOLEDO, OH (WTOL) - Ohio Senator Rob Portman is traveling across Ohio this week visiting auto manufacturing plants.

On Thursday, the Republican stopped at the General Motors Powertrain Transmission Plant in west Toledo. It is part of what he calls an 'Auto Manufacturing Jobs Tour.'

Sen. Portman came to the plant to pitch how tax reform will benefit automakers. He says the result will be more jobs and higher wages.

"General Motors and U.S. manufacturers in general pay a higher tax rate compared to competitors overseas," Sen. Portman said. "That's not good for the people on the lines here because they're competing with one hand tied behind their back because of our tax system being out of date and antiquated."

The auto industry employs 108,000 workers in Ohio and contributes $13 billion annually to the economy. Toledo's GM transmission plant has nearly 2,000 workers.

The automaker committed more than $600 million in investments to support future projects at the plant.

Sen. Portman says simplifying a broken tax code will level the playing field.

"So we're trying to get the tax rate down where it's competitive with other countries and change the way we tax so we don't have these trillions of dollars sent overseas," Sen. Portman explained. "Instead, you bring them back to America to invest in plants like this."

Sen. Portman will also visit Toledo's Jeep plant on Friday.

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