Chris Van Hollen: “This bill supports the efforts of American entrepreneurs and of American businesses to create jobs here at home, and at…”

“This bill supports the efforts of American entrepreneurs and of American businesses to create jobs here at home, and at the same time, it closes down perverse tax loopholes that encourage big corporations to ship American jobs overseas. On the plus side, it invests and encourages investments in research and development by businesses right here at home, which are provisions that our colleagues have supported in the past. It invests in the very successful Build America Bonds initiative that has driven new investment in roads, in bridges, and in essential infrastructure here at home. It pays for all of these investments by eliminating a number of loopholes in the Tax Code, including a very awful loophole that encourages big corporations to export, not American products, but American jobs. Very simply, Mr. Speaker, creative corporate tax lawyers have devised a way to have American taxpayers, our constituents, foot the bill for the taxes that their corporations pay to foreign governments for their overseas operations.”