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Sen. Rand Paul visits west Louisville

Kentucky Sen. Rand Paul visited Louisville Monday to promote economic growth in west Louisville and a new proposed bill.

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He met with local businessmen and women and civic leaders.

At the Plate Glass Company, at 14th Street and Broadway, Paul announced to civic leaders and developers his proposed bill, called the Economic Freedom Zones Bill, which he said will help west Louisville grow.

"If unemployment is 1 1/2 times the national average in your ZIP code, we dramatically lower taxes," Paul said. "The Economic Freedom Zones would leave $650 million in west Louisville over the next 10 years."

By cutting corporate and personal income taxes to only 5 percent in west Louisville and capital gains tax to zero, Paul said, it would leave much of the money generated in Louisville in Louisville and not in Washington.

"Now, much of it would go to businesses, but that's what we want as we stand in a business in west Louisville that employs 35 people. If we reduce taxes on this business, my hope is they'll employ 40 to 45," Paul said.

With taxes in west Louisville at 5 percent in comparison to 35 percent in east Louisville, Paul hopes businesses would be drawn in.

"The 5 percent tax rate could be just a massive inducement of investment here," said Carroll Mackin, CEO of Great Northern Building Products, which is located in west Louisville.

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Rand Paul introduces Economic Freedom Zones bill in west Louisville