Senate Republicans on Thursday killed a bill to encourage American companies to bring overseas jobs back to the United States. The bill would have stopped companies from deducting the expenses of moving workers or operations overseas from the U.S. It also would have offered a 20 percent credit for the costs of shifting workers back home.
"I am extremely disappointed that almost every Republican voted against a bill that would have ended tax breaks for companies that ship jobs overseas and at the same time would have helped U.S. companies that bring jobs home to the United States," Sen. Bernie Sanders said after the vote. "At a time when American companies have eliminated millions of good-paying jobs in our country, the last thing we should be doing is providing tax breaks to large multi-national corporations that ship jobs to China and other low-wage countries."
Posted on 19 July, 2012, 3:21pm. This post has 9 notes.