The Bring Jobs Home Act was outlined yesterday on the U.S. Senate floor. Sen. Debbie Stabenow, a Michigan Democrat, used some basic charts to outline her proposed law. With this new legislation, she wants to create incentives for U.S. corporations to keep their jobs in America. Her bill especially aims to entice U.S.-based companies to bring their jobs back to America if they've been using cheap labor overseas. The main planks of Stabenow's plan would: • End taxpayer-backed subsidies that pay corporations to send jobs to foreign lands. • Instead, allow companies to deduct their moving costs when they bring jobs back to America. • And give the returning companies an additional 20% tax credit. Stabenow, who earlier this year argued for a federal minimum-wage increase, stressed yesterday that the current tax code hurts the American worker precisely by giving corporate employers strong incentives to export jobs. She added that in the last 10 years, 2.4 million U.S. jobs were exported at public expense. And, as if to address corporate America, she declared on the Senate floor: "Our tax code will no longer reward your leaving America." Stabenow also understands that companies like General Electric and Caterpillar are to some extent bringing jobs back to America from Mexico and China. She stressed that her main goal is "a fair shot for everyone." Otherwise, too many Americans, including young people, will waste away at dead-end, low-paying jobs that provide no upward mobility. And while adding that America needs it ailing middle class restored, Stabenow remarked, "[If] you work hard and play by the rules, you should have a fair shot to get ahead; and everybody needs to know that a fair shot is still available to them." Stabenow's bill received support from a majority of Senators, with a tally of 56 to 42. But some Senate Republicans blocked the bill with a procedural move. The bill was blocked by a Republican filibuster, which meant the legislation required 60 votes, instead of 56, to move forward. In a news release, Stabenow noted: "We need to be exporting our products, not our jobs. It's outrageous that taxpayers are paying companies to send jobs abroad." She went on to say: "Instead of giving tax breaks to companies that ship jobs overseas, Congress should cut taxes for U.S. companies that bring jobs back to America. We are going to . . . work to get Congress to put politics aside, put American jobs first and pass this bill." So far, Republicans are being less than totally candid about why they created a higher hurdle for this bill to pass the Senate. But one thing seems clear: Big business comes first for Republicans, even when the record is clear that these companies thrive on taxpayer money to export jobs. Support Indymedia! Donate USD: http://nnn.is/donate-dollars Donate BTC: http://nnn.is/donate-bitcoin Download your free Next News "Heroes & Villains" Poster here: http://nextnewsnetwork.com/the-2013-heroes-villains-posters LIVE: http://NextNewsNetwork.com Facebook: http://Facebook.com/NextNewsNet Twitter: http://Twitter.com/NextNewsNet Sub: http://NNN.is/the_new_media Meet the Next News Team: http://youtu.be/2QnNKwQ2WkY Hashtag: #N3 About: Next News Network's WHDT World News program airs daily at 6pm and 11pm Eastern on Comcast, DirecTV and Over-the-Air and Online at http://NNN.is/on-WHDT WHDT World News is available to 6 million viewers from South Beach to Sebastian, Florida and to 2 million viewers in Boston, Massachusetts via WHDN. WHDT broadcasts on RF channel 44 (virtual channel 9) from Palm City and is carried on cable TV channels 44 (SD) and 1044 (HD) by AT&T;, on cable channels 17 (SD) and 438 (HD) in West Palm Beach by Comcast, on satellite channel 44 (SD) in West Palm Beach by DIRECTV, and on WHDN-Boston which broadcasts on RF channel 38 (virtual channel 6) from the Government Center district in downtown Boston. More about WHDT: http://en.wikipedia.org/wiki/WHDT #DC

• published: 22 Jul 2014
• views: 57