John Garamendi said "This House more than a month ago passed a very, very important tax bill, and what it did is to end the tax subsidies--and the gentlewoman from Ohio was speaking to this--ended the tax subsidies that American corporations get when they offshore jobs. Americans that I talk to say, What are you talking about? You mean the tax policy of America actually allows corporations to take a reduction in their tax, a tax credit when they send jobs overseas? The answer is yes, but if that bill becomes law--and it's stalled in the Senate by the Republicans--if it becomes law, that will end and no longer will corporations be given a tax break to send jobs overseas. It's $14 billion a year. Mr. Ellison, we've had a debate here with your colleague next to you about which is the greatest State in the upper Midwest. Would you care to join us and answer that really important question?" @ PoliticalQuotes.com

On the recordJuly 21, 2010

This House more than a month ago passed a very, very important tax bill, and what it did is to end the tax subsidies--and the gentlewoman from Ohio was speaking to this--ended the tax subsidies that American corporations get when they offshore jobs. Americans that I talk to say, What are you talking about? You mean the tax policy of America actually allows corporations to take a reduction in their tax, a tax credit when they send jobs overseas? The answer is yes, but if that bill becomes law--and it's stalled in the Senate by the Republicans--if it becomes law, that will end and no longer will corporations be given a tax break to send jobs overseas. It's $14 billion a year. Mr. Ellison, we've had a debate here with your colleague next to you about which is the greatest State in the upper Midwest. Would you care to join us and answer that really important question?

Said by

John Garamendi

Democratic · California

Source

govinfo.gov

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