I rise today to support the Creating American Jobs and Ending Offshoring Act. The bill before us utilizes both carrots and sticks. It ends certain egregious tax breaks that promote the movement of American jobs overseas, and provides a payroll tax holiday to companies that relocate jobs back to the United States. I thank Senators Durbin, Reid, Schumer and Dorgan for their initiative in crafting legislation designed to create more jobs on American soil at a time when it is critical. This bill is a positive first step. Robust industry has always been the hallmark of American competitiveness. It once was that you could see the 'Made in America' logo on the back of a t-shirt, on a shoe, a dress, a coat, and knew that you had a product that was both high quality and safe. But from 2000-2005, U.S. companies slashed 2.1 million jobs in the United States while hiring 784,000 jobs internationally. This is from the Bureau of Economic Analysis.
Editor's note · Context
Feinstein supports legislation aimed at creating jobs in the U.S. and ending offshoring.
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