On the recordJune 16, 2010
Madam Speaker, I rise to discuss a critical issue for American families: job creation. With unemployment still hovering around 10 percent, this country must focus on new and innovative ways to create jobs in America. I believe that we must be aggressive and creative in our approach to job creation. That's why I've been urging both the Federal Government and my home State of Virginia to work to repatriate jobs that are going overseas, to bring them back to America. We must launch a systematic program, led by all the Governors of each State, to identify American companies that are doing business abroad and incentivize the repatriation of jobs back to America. This is necessary and feasible. Earlier this year, The Wall Street Journal reported that a major American manufacturer, Caterpillar, was considering expanding its manufacturing inside the U.S. rather than overseas. According to the article, repatriation is gaining momentum; and after a decade of rapid globalization, economists say companies are seeing disadvantages of offshore production, including shipping costs, complicated logistics, and quality issues. Political unrest and theft of intellectual property pose additional risk. I applaud Caterpillar's effort and call on every other American company to follow its lead. I believe that every American company has a moral obligation to try to create jobs in America.…





