Cigar
10-04-2012, 11:31 AM
GOP Blocked Bill to Punish Companies that Move Jobs Abroad
This is about the tax break for offshoring jobs. Senate Democrats proposed the bill to elimiate the tax break; the Republicans, at the urging of the Chamber of Commerce, blocked it:
The Senate voted 53-45 in favor of the procedural motion, but Democratic leaders needed 60 to take the bill up.
Current tax law allows companies to benefit in a variety of ways when they move jobs overseas, including deducting the costs of closing American plants. The proposed bill would have raised taxes on companies that move manufacturing jobs out of the country and provide a tax incentive for companies that decide to bring them back.
Senator Debbie Stabenow, D-MI, said it was an attempt to protect American workers and the bill "sends a simple message: stop shipping our jobs overseas."
But Republicans said they worried the bill could hurt the competitiveness of large American companies that still have a lot of American workers even if they do move some manufacturing plants to nations with cheaper labor.
http://www.cbsnews.com/8301-503544_162-20017896-503544.html
In other words, Republicans (including Scott Brown (http://www.progressmass.org/press/new-study-progressmass-analysis-of-scott-browns-voting-record-reveals-highly-partisan-record-overwhe.html)) said that profits for companies were sacrosanct, even if they were achieved by offshoring jobs.
http://www.examiner.com/article/senate-republicans-block-bill-designed-to-encourage-domestic-job-growth
Hey Mitt ... you been in business for 25 years and don't know about this? :huh: The President of The United States did.
This is about the tax break for offshoring jobs. Senate Democrats proposed the bill to elimiate the tax break; the Republicans, at the urging of the Chamber of Commerce, blocked it:
The Senate voted 53-45 in favor of the procedural motion, but Democratic leaders needed 60 to take the bill up.
Current tax law allows companies to benefit in a variety of ways when they move jobs overseas, including deducting the costs of closing American plants. The proposed bill would have raised taxes on companies that move manufacturing jobs out of the country and provide a tax incentive for companies that decide to bring them back.
Senator Debbie Stabenow, D-MI, said it was an attempt to protect American workers and the bill "sends a simple message: stop shipping our jobs overseas."
But Republicans said they worried the bill could hurt the competitiveness of large American companies that still have a lot of American workers even if they do move some manufacturing plants to nations with cheaper labor.
http://www.cbsnews.com/8301-503544_162-20017896-503544.html
In other words, Republicans (including Scott Brown (http://www.progressmass.org/press/new-study-progressmass-analysis-of-scott-browns-voting-record-reveals-highly-partisan-record-overwhe.html)) said that profits for companies were sacrosanct, even if they were achieved by offshoring jobs.
http://www.examiner.com/article/senate-republicans-block-bill-designed-to-encourage-domestic-job-growth
Hey Mitt ... you been in business for 25 years and don't know about this? :huh: The President of The United States did.