Lee Terry: “I yield myself as much time as I may consume. Mr. Speaker, I rise in support of H.R. 2052, the Global Investment in…”

“I yield myself as much time as I may consume. Mr. Speaker, I rise in support of H.R. 2052, the Global Investment in American Jobs Act of 2013. Now, we recently saw the latest job numbers. While somewhat positive, the reality is that we have more people out of the workforce than since 1978. People are giving up looking for work, and it doesn't have to be and shouldn't be that way. There are many foreign companies who want to ``in-source'' their jobs to America, but there have been many barriers standing in their way. There are many foreign companies who should and want to come here. These are good, high-paying jobs that many Americans are looking for. In 2010 alone, U.S. affiliates of foreign firms employed an estimated 5.6 million Americans. These Americans also made, on average, $77,000 per year. These U.S. subsidiaries invested $41.3 billion in research and development and made $149 billion in capital expenditures in the United States that same year. In the manufacturing sector alone, FDI inflows were nearly $84 billion in 2012, according to the National Association of Manufacturers. Unfortunately, according to the testimony of the Organization for International Investment at our legislative hearing last spring, the United States' share of foreign direct investment dropped from 41 percent at its high in 1999 to just 17 percent in 2011. Today, we're here to reverse that trend. My bill, H.R. 2052, and also, with the gentlelady, Ms. Schakowsky, and Mr.…”