On the recordFebruary 15, 2012
This week President Obama revealed his FY 2013 proposed budget, which introduces important tax reforms to revitalize the economy by boosting job creation and encouraging businesses to bring overseas jobs back to America. President Obama's proposed budget especially underscores his commitment to provide needed tax relief for America's small businesses. For example, the proposed budget offers a temporary 10 percent tax credit for small businesses that add new jobs and raise workers' salaries. Madam Speaker, the proposed budget also offers tax incentives for locating jobs in the United States while eliminating tax deductions for shipping jobs overseas and closing tax loopholes that result in outsourcing U.S. jobs to foreign countries. Madam Speaker, in line with the focus on American manufacturing, President Obama also introduced temporary tax credits to direct some $20 billion to domestic clean energy manufacturing. Madam Speaker, I commend President Obama for introducing significant reforms that will put America back to work, return profits to America's private sector, and promote a stronger American economy. ____________________





