When: Wednesday, April 2nd at 6PM ET
Where: CNBC's "Mad Money w/Jim Cramer"
Following is the unofficial transcript of a CNBC EXCLUSIVE interview with Senator Clinton. During the interview, Senator Clinton discusses her new plan unveiled today on keeping jobs in the U.S. and her thoughts on Paulson's plan, among other topics.
All references must be sourced to CNBC's "Mad Money w/Jim Cramer"
JIM CRAMER, host: Senator Clinton, welcome back to MAD MONEY.
Senator HILLARY CLINTON: Thank you, Jim, it's great to be back with you.
CRAMER: Excellent. What can--what can the Federal government do to promote jobs when it costs so much to hire new people, and companies, especially public companies, are concerned that there will not be a return on investment given the state of the economy right now?
Sen. CLINTON: You know, Jim, that's exactly the question we tackled today at a job summit that I held in Pittsburgh. I want to make the research and development tax credit permanent. I want to increase it. In fact, I'd like to double it. I want to use the successful example of the new market tax credit and have one that is focused on green jobs and make sure that, you know, we're really looking at the industries that we can grow and incentivize. I think it's important that we quit subsidizing the companies of the past or the companies that are doing really well without our money, like the oil companies, and, instead, we shift that money into clean, renewable energy. I'd like to see us do a bonding program to try to rebuild America, put thousands of people to work. I'm big on trying to insource jobs instead of outsource jobs. How do we provide incentives like getting everything out of our tax codes that encourages somebody to move a job overseas...
Sen. CLINTON: ...and instead shift those, you know, incentives and those tax dollars right back here at home.
CRAMER: OK. Now you're in Pennsylvania. Pennsylvania happens to be home to the largest untapped unnatural gas field in this country, a clean fuel, the Marcellus Shale. When I hear your comments about oil and gas, I'm wondering whether you are not crimping the power of very good natural gas drillers to spend money in Pennsylvania and to put people to work in high paying oil and gas jobs.
Sen. CLINTON: Well, not at all. You know, I supported increased drilling in the Gulf of Mexico. I support, where appropriate, gas and oil. Now, obviously, we have to try to figure out how to improve our technology so that we minimize the damage that is often a consequence of drilling. I am a big supporter of moving rapidly to try to figure out how we're going to develop clean coal technology, carbon sequestration and storage. There's a lot that we could be doing, but Jim, we're not doing any of it on a big enough scale. You know, we're not taking the hard look that I'd like to see us do to develop a strategic approach to energy, to new jobs, to our infrastructure, to the health and bioscience fields. You know, we are losing ground every day. And you know, you've got a lot of businesses that, you know, you follow.