Mark Udall: “I rise today to speak about a piece of commonsense legislation the Senate is preparing to consider this week. The bill…”

“I rise today to speak about a piece of commonsense legislation the Senate is preparing to consider this week. The bill, which is called the Bring Jobs Home Act, sets out to do just what that name implies--bring good-paying jobs back to America. Our Tax Code has a fundamental flaw. Right now a U.S. company can decide to cut American jobs, move them overseas, and then claim those expenses as a tax deduction, thereby lowering the amount of taxes the company pays. If a company decides to move 75 good-paying U.S. manufacturing jobs overseas, not only do we lose good American jobs, but taxpayers in Colorado and West Virginia and throughout the country are footing the bill for the cost of killing those jobs. American taxpayers literally get billed for the cost of shipping jobs overseas. I don't think it is right to reward companies for cutting American jobs, and I don't think it is right to ask taxpayers to subsidize the cost of moving those jobs overseas. That is why I am cosponsoring the Bring Jobs Home Act in an effort to provide better incentives for U.S. businesses to bring good-paying jobs back to our country and keep them here. Our country is at its best when we produce here in America. Simply put, the Bring Jobs Home Act is about looking out for the best interest of Coloradans and not the bottom lines of corporations that want to ship their jobs to places such as China and India.…”