Press Release of U.S. Senator Barbara Boxer
|For Immediate Release: |
July 19, 2012
Washington D.C. Office (202) 224-3553
Boxer Statement on Republicans Blocking Bill to Keep Jobs in America
Bill Would Create Incentives to Keep Jobs Here and End Tax Breaks for Shipping Jobs Overseas
Washington, D.C. – U.S. Senator Barbara Boxer (D-CA) issued the following statement after Senate Republicans blocked debate on the Bring Jobs Home Act, legislation that would end tax breaks for companies that ship American jobs overseas and create new incentives for companies to keep jobs here in America.
Senator Boxer said, “We have the greatest workers in the world and the greatest entrepreneurs in the world, so why do Republicans want to keep giving companies incentives to ship American jobs overseas?”
The Bring Jobs Home Act would eliminate tax subsidies that help pay the moving costs for companies that ship jobs overseas, while maintaining these same tax breaks for companies that return jobs to the United States. Companies returning production to the United States would also receive an additional 20 percent tax credit.