Hillary Clinton nets at least $500,000 in Massachusetts presidential fundraising sweep

Democratic presidential candidate Hillary Rodham Clinton speaks during a forum in Boston. (AP Photo/Steven Senne)

SPRINGFIELD ‒ Officials for Hillary Clinton's 2016 Democratic presidential campaign on Tuesday detailed a new strategy that seeks to to grow middle class incomes by promoting and keeping manufacturing jobs in the U.S.

Former National Economic Council Director and Clinton campaign advisor Gene Sperling told reporters that the former secretary of state's proposal aims to revitalize hardest hit manufacturing communities, create incentives for companies to bring jobs back to the U.S. and strengthen long-term investment, among other things.

Sperling, who pointed to various studies that he said suggest manufacturing "punches above its weight in innovation and high wage jobs," contended that Clinton's plan would underscore the importance manufacturing plays in the economy, as well as ensure the country has the necessary tools to help communities rebound after companies leave.

According to the Democrat's campaign, Clinton's strategy would make areas that have seen or are about to face manufacturing job or plant losses eligible for so-called "Manufacturing Renaissance Tax Credits" to help attract new capital, businesses and jobs.

The proposed credits, which are modeled on the New Market Tax Credit, include a zero capital gains option on long-term investments, as well as relief for renovating, refurbishing or repurposing plants, the campaign said in a fact sheet.

Sperling said while the tax credits will be available to communities that are already struggling to regain manufacturing jobs in the wake of plant closures, Clinton's proposal ideally aims to ensure that municipalities don't have to fall on such hard times to receive federal assistance.

"Let's have an incentive strategy that encourages people to invest in a community before it reaches that state," he said in an afternoon conference call.

The former first lady's proposal, officials added, would also provide greater support and tax relief for research and innovation, coordinate government efforts to bring back jobs to the U.S., end so-called inversions and other tax loopholes and expand access to capital, particularly for smaller manufacturers.

The plan, Sperling said, would be paid for largely by the estimated billions of dollars that will be raised through closing tax avoidance loopholes some U.S. companies take advantage of.

"When we are raising revenue from closing those tax avoidance loopholes, we will take those funds and use them to reward those who are investing in jobs and innovation in the U.S.," he told reporters.

Clinton's policy announcement, which officials said they will continue to outline more specifically, comes just two months after state lawmakers visited area manufacturers in an effort to highlight the need for programs to adequately train local workers and the industry's impact on the Western Massachusetts economy.