On the recordDecember 7, 2010
Ms. Shea-Porter, thank you so much. You were talking about the many options available to us, the choices we are making. In this tax policy, we are making a choice to invest in America's future, that is, the working men and women of America, or investing in the very wealthy. All of it with borrowed money. If America is going to make it, then we are going to have to rebuild America's industrial strength. These are choices. There are ways that we can rebuild America's industrial strength. One of them is to stop exporting jobs. Now, the American Tax Code until just a month ago provided a $12 billion annual tax break to American corporations who sent jobs offshore. Yes, that's right. How could that be? Well, it was in the Tax Code. The Democrats said that's wrong, and we passed a tax bill that ended that nefarious, useless, job-harming tax proposal. We brought $12 billion back into the Treasury, put a stop to the incentive for American corporations to ship those jobs offshore. Did the Republicans support that job-creating program? They did not. Only a handful. I mean, one handful actually voted with the Democrats to end a tax break that encouraged the off-shoring of jobs. An example of how we can bring jobs back to America is to set our tax policy in place so we don't encourage the off-shoring of jobs. Another piece of this is to use our tax money to build jobs in America. Very quickly, and then I want to turn to my colleagues in the final 15 minutes of this hour.…
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