Political Quotes

“Mr. President, the American people understand a simple truth: Our Tax Code should not encourage U.S. companies to send their jobs overseas. That is why we have proposed the Creating American Jobs and Ending Offshoring Act. This legislation would take important steps to prevent American workers from losing their jobs because American companies get tax breaks when they move jobs overseas. I thank Senators Reid, Durbin, Schumer, and Dorgan for introducing this legislation. It would eliminate tax deductions that corporations claim for expenses related to sending U.S. jobs overseas. It would end the tax breaks companies receive on income earned by foreign subsidiaries established to do work they once did with American workers. And in a bid to turn around the twisted incentives in our Tax Code, incentives that now encourage companies to send jobs overseas, it would provide incentives for companies to bring those jobs back home. I understand some of my colleagues oppose this legislation because they fear it might violate our treaty obligations. It is difficult to have sympathy for this position, given the thousands of U.S. jobs lost because our trading partners fail to live up to their treaty obligations. I am in favor of trade, but I strongly oppose unilateral disarmament when it comes to trade. It is our obligation to defend the interests of U.S. workers. Ending the tax incentives that cost thousands of those workers their jobs is one way we can fulfill that obligation. U.S.…”