On the recordFebruary 3, 2009
First of all, this isn't a shop-worn argument. This is an argument that is going to create jobs, if we win it. Who says it? Laura Tyson: Repatriation policy provides a short-run stimulus and would make funds available to support the domestic operations of U.S. companies quickly. Robert Schapiro, Under Secretary of Commerce under Bill Clinton: The earnings currently held abroad would provide significant economic stimulus and financial market liquidity if a change in government policy could induce U.S. multinationals to promptly repatriate them and use them for certain purposes. You know, here it is. If you want to get the break, these are the things you have to do. You have to hire workers. You have to use it for research and development, for capital improvements. You have to acquire distressed companies and clean energy investments. Look, my friends. The world is the way the world is. I think Senator Ensign and I, Senator Bayh, and Senator Specter are realists. Yes, in many ways I would like to think I am an idealist. I don't like the fact that these companies are keeping their money abroad. But guess what. They are not going to bring the money back because Byron Dorgan or Barbara Boxer comes on the floor of the Senate and says: Please be good. Please be good. We need the capital in our banks. We need the capital to create jobs.
Source
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