Remove government taxes. Remove regulations. Institute tort reform. Encourage non-union shops.
Do it right.
"To me, removing a tax from U.S. made products and applying it to imports is not my idea of the best way to level the playing field. I think it hurts consumers to benefit local manufacturing."
I think you are approaching it from the wrong angle. As the situation exists today, the tax burden is placed on US companies, not on foriegn companies. What this proposal would do is equally burden the products or services by both the US company and the foriegn company, therefore removing artificial efficiencies.