Nancy L. Johnson: “This is plain and simple a jobs bill. If American multinational companies are not competitive, we lose jobs all across…”

“This is plain and simple a jobs bill. If American multinational companies are not competitive, we lose jobs all across this country, in the millions and millions of small businesses that produce parts and products that go abroad, and furthermore, if our multinationals are not strong, we do not produce jobs in America for this reason. A 10-year study of our multinationals showed that they produced 2.8 million jobs abroad over the last 10 years, but those same parent companies produced 5.5 million new jobs right here in America. Being able to compete internationally is what creates jobs here at home. And it is not just those who export that have to be able to compete internationally; it is everyone because international competition is right down the street at Wal-Mart. So if we are not competitive, we lose jobs. This bill reforms the structure under which we tax international earnings so we are competitive. That is all it does. We have to repeal one section of our law, so we feed that money back in to level the playing field for our companies so that they can continue to grow more jobs in America than they do abroad and so that they can continue to buy product from the millions of small businesses all across America that supply the goods that go abroad and make us competitive. This is a jobs bill, and do not forget it for one minute. If we do not pass it, we lose jobs.”