Bill Pascrell: “And we continue to let them deduct the cost--get this. We allow them to deduct the cost of moving their operations…”

“And we continue to let them deduct the cost--get this. We allow them to deduct the cost of moving their operations overseas. How un-American do you get? We need to stop that. There is a bill, by the way, to do that, if you noticed. If you can believe it, General Motors saved more than $150 million so far this year thanks to the GOP tax scam, and they appear to have benefited by as much as $6.5 billion by the tax holiday for offshore cash hidden in this GOP bill. The data is clear, Mr. Speaker. Read it. Yet here they are shipping jobs overseas just in time for the holidays. You might think after they were repudiated at the ballot box that Republicans would show some humility and extend a hand to work with us, reach out. No. All they could do is smile and say: Bernie, it is your year. Don't worry about it.”