Outsourcing Report: Republicans Rewarding Corporations that Ship U.S. Jobs Overseas

[FreakinDJ]

Outsourcing Report: Republicans Rewarding Corporations that Ship U.S. Jobs Overseas

“The Republicans in Washington claimed to draw their ideas from a website called ‘America Speaking Out.’ It turns out that one of the ideas that’s drawn the most interest on their website is ending tax breaks for companies that ship jobs overseas. Funny thing is, when we recently closed one of the most egregious loopholes for companies creating jobs overseas, Republicans in Congress were almost unanimously opposed. The Republican leader John Boehner attacked us for it, and stood up for outsourcing, instead of American workers.”

While House Democrats are working on a “Make It In America” manufacturing strategy to spur American job creation and innovation, Republicans have blocked all efforts to clamp down on tax breaks for corporations shipping jobs overseas.

During the Bush Administration, Republicans fought to keep, and even expand, these kinds of tax loopholes. The Bush-Republican policies on outsourcing hurt American families and the economy – and left us with the worst American jobs record since the Great Depression. For example, under the Republican agenda, U.S. multinationals eliminated 1 million American jobs while adding 2.5 million jobs abroad (1999- 2007), and U.S. multinationals more than doubled the income they reinvested overseas (2002-2008).

http://www.speaker.gov/newsroom/reports?id=0472

[democracy1st]

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