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Back to domestic issues the debt negotiations fell apart today on Capitol Hill jobs are nonexistent the unemployment rate remains at more than 9% joining me now.
-- currencies president of the US business and industry council and congresswoman Marcy Kaptur Democrat of Ohio thank you both for being where those.
Let's start with something near and dear to both your hearts and that is.
The the the patent law changed the America and the America in -- -- It passed.
Which you had to impose it passed today on the house 40 -- reactions first -- congresswoman.
Well what this said bill essentially did was to European eyes.
Our patent system we believe that constitutionally will be challenged in the courts.
We have a great patent system is the basis of our innovation.
And we should pay attention to small inventors and not just drop dead.
Foreign drop over for the very large multi national global interest that really weighed in heavily at the -- so I'm very proud to have.
Worked with that Kevin car and -- US business and industry council.
So many others who left hand holders around the -- -- Only -- small holders but let me ask Kevin I mean news small business in this country small manufacturers -- this legislation.
-- which as I understand that the effect is to take it through the level of the rest of the world only the United States in the Philippines they go to the first in venture -- gets the patent rule rather than the first -- -- -- that patent.
Wind what's the point of doing that -- our patent system has worked for a very long time.
Exactly correct clue.
For 220 years we've been the envy of the world we have a system that works.
We want to now these big multinationals.
Want to harmonized down to the European system so they can have one stop filing.
This -- is a -- it's unconstitutional.
First of all it's a job killer.
All the jobs in this country the net new jobs for the last 25 years have been created by small businesses to start ups -- so called his cells of three to five year old businesses.
The multinationals who are backing this bill.
In the last ten years have laid off two point nine million Americans and created 2.4 million jobs overseas.
So at base that that the the question here is who's running this country whose.
For whose benefit is the quarter and -- -- after about -- who is -- -- -- it's the big multinationals.
The big pharmaceutical companies.
The big IT companies IBM apple etc.
And the the Wall Street banks.
And -- that being the case congresswoman.
What what happens now -- this legislation.
And and what will be the effect.
You're talking about.
-- new law that simply changes the relationship between the filing for a patent from the first.
-- If you will to the first -- What will be the effect what is the -- an immediate result.
I think what will happen is that many small inventors are going to find themselves defending their inventions and be involved in.
Very very expensive lawsuits and they're going to find.
That the people who are really.
On the other side will have much deeper pockets -- the other side is saying them.
Congresswoman that this means that small inventors have the ability.
To file and it will make this litigation costs even lower.
-- A small -- already have a right to file.
And I think what's going to happen is that those who have very deep pockets are going to challenge their inventions.
And you're going to see litigation results from -- And the small holder the small in banner is not going to be able to withstand.
The money flows from the very large interest because our constitution guarantees that the first.
That that the -- the authentic in -- -- not the first to file at the patent office the person who runs -- the interest that runs there the fastest file.
Is the actual owner of the invention for specified period of time and I think how this -- that great.
Li I wanna I wanna go to two quick points if -- may and we've got just about a minute and I wanna ask you both.
Why are we generating jobs what will be the -- without.
How can we start generating jobs in this country because this administration that the chamber of commerce the business roundtable Republicans and Democrats.
The senate and the congress haven't figured it out -- what's your solution a -- -- congresswoman dessert is very straightforward departure.
22 items number one we have -- open and closed markets of the world and have trade reciprocity.
If they don't open up to us we don't open up to them.
There has to be reciprocity and number two we have to make in growth things in this country.
Again and we have to make sure that we and sent in sent -- five -- production here.
Almost everything comes from China and other places we have to retool in this country in invest.
In this country again and for the pools of unemployed -- -- -- -- civilian conservation corps got.
That would put pools of unemployed people to work doing infrastructure projects including our returning veterans we have over 850000.
-- -- we're gonna you know a couple of times real quickly Kevin.
I I would love Marcy Kaptur but I disagree with her on one the first point.
There's no sense in negotiating with these countries we've been negotiating for forty years it hasn't worked.
We have to take the steps here at home.
Combat Chinese currency manipulation other currency manipulations.
From governments around the world I agree with -- point -- let me ask you this -- -- here now and -- I just from -- Why do you worry about what the Chinese are doing.
What are we take care what we're doing if they don't put -- -- our currency let them do it it it has nothing to do with us if we are managing ourselves correct.
That that's exactly what I'm saying look we we what we control is our market our government some sort out because some -- central but.
You know we -- we have to take actions here I've been involved an endless negotiations when -- State Department official I got to do nothing happens under a noted that I'm way over.
And and hopefully we can change that I hope you both -- come -- -- we'll continue the conversation.
While Marcy -- congresswoman thanks for being here.