Kim Reynolds: “I have just got to remind people that it is very clear this resolution is revenue-neutral, so it is not going to impact…”

“I have just got to remind people that it is very clear this resolution is revenue-neutral, so it is not going to impact the deficit. Second, I listened to my colleague from New Jersey as he talked about jobs overseas and everybody getting a benefit, and I have just got to remind, again for the record, although we put it on in the previous rule, that nothing in this bill moves jobs overseas. More tax relief is provided for businesses with proportionately more U.S. operations. The deduction is available for domestic production activities only. The deduction is limited to 50 percent of the wages paid to workers in America. Income attributable to outsourcing does not benefit. Overseas operations of multinationals does not benefit. New taxes are imposed on expatriated entities. The international tax reforms in the bill would not lead to the movement of jobs overseas, as many Democrats claim. In fact, these provisions would reduce double taxation on companies, thus encouraging them to keep their headquarters in the United States.”