The latest employment numbers show Americans need good-paying jobs, and any economic stimulus bill Congress considers in the next few weeks must focus on creating quality jobs for our citizens. With that objective in mind, I will introduce bipartisan legislation tomorrow that will give an immediate power boost to the U.S. economy while providing financial incentives to companies that keep and add jobs in America.

The American Jobs Creation and Economic Stimulus Act of 2008 is exactly what America needs to stimulate our economy. It’s simple, it doesn’t cost much, and it will provide needed jobs for Americans. Several of my colleagues agree – the bill will be cosponsored by U.S. Rep. Dan Lipinski (D-IL), Chief Deputy Majority Whip Eric CantorEric Ivan CantorSpanberger's GOP challenger raises over .8 million in third quarter The Hill's Campaign Report: Florida hangs in the balance Eric Cantor teams up with former rival Dave Brat in supporting GOP candidate in former district MORE (R-VA) and Ways & Means Trade Subcommittee Ranking Member Wally Herger (R-CA).

This 1-page bill simply accelerates a tax benefit manufacturers get on the work they do in the United States. Thanks to a law I helped author in 2004, manufacturers currently receive a 6 percent tax rate reduction on the goods they produce in the United States. The tax benefit is scheduled to increase to 9 percent in 2010, but the legislation I will introduce tomorrow accelerates the increase to 9 percent retroactive to Jan. 1, 2008. So, manufacturers get an extra 3 percent cut in their tax rate immediately that they can use to expand and create jobs in America.

This legislation not only gives our manufacturers the tools they need to create jobs, but it gives them an even greater incentive to keep those jobs in the United States. They essentially would pay a 9 percent tax penalty on any work they send offshore. This legislation would provide a tremendous stimulus to our economy while helping our manufacturers keep good-paying jobs in America.