If we have a system that says to a company that is looking to invest in either San Antonio, Texas, or South Africa or Europe or Asia that if they invest abroad they will pay nothing on the earnings from that investment but if they invest here they will pay 20, 25 percent, even 10 or 15 percent, the incentive is to encourage the export of those jobs overseas.
Doggett highlights the tax incentives that encourage companies to move jobs overseas.
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Mr. Chair, I yield back the balance of my time. The Acting CHAIR. The question is on the amendment offered by the gentleman from Texas (Mr. Doggett). The amendment was agreed to. The Chair understands that amendment No. 190 will not be…
Certainly, the stories that you have told today are compelling, and they focus new attention on this problem.
The legislation reprioritizes the U.S. tax code towards American manufacturing, and corrects policies which currently encourage American based companies to shift manufacturing plants overseas.
Thank you, Commissioner, for the efforts that you and your team have made to address many of the problems that have been created over the last decade.
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