U.S. SenateWASHINGTON, D.C. (7/14/17) — U.S. Senators Rand Paul and Mitch McConnell reintroduced the Economic Freedom Zones Act Thursday.

This legislation will establish free market enterprise zones and dramatically reduce taxes to help facilitate the creation of new jobs and entrepreneurial opportunities, enhance and renew educational opportunities, and increase community involvement in bankrupt or economically distressed areas, according to a press release.

“The Economic Freedom Zones Act will bring hope to struggling communities by relieving the oppressive, big government burdens weighing them down,” said Paul. “It’s time the federal government stop picking winners and losers and instead trust in the ingenuity of the American people.”

“By reintroducing this legislation, we are standing up for American families who are suffering under the strain of regulation and the consequences of failed economic policies,” said McConnell. “Innovative ideas like this will help bring hope and prosperity to distressed communities across our nation, including those in Kentucky.”

The Economic Freedom Zones Act will apply to any zip code with unemployment greater than one and a half times the national average and to other economically depressed areas. Last year, the Senate voted on the bill as an amendment to H.R. 2028, the Energy Policy Modernization Act.

To read the Economic Freedom Zones Act, click here. Find the top-line bullet points and background information here.

SurfKY News
Information provided by Sen. Rand Paul

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