President Obama’s “In-Sourcing” Push to Bring Jobs Back to U.S. Means Eliminating Certain Corporate Tax Breaks
The U.S. economy “has the most productive workers, best universities, and most creative and innovative entrepreneurs in the world,” Obama said.
The President is acting to reduce the stubborn high unemployment rate, announcing that Ford is planning to bring jobs back from China, Japan, and Mexico by adding jobs in Michigan to boost production of the Ford Fusion.
The Obama administration also announced plans today for new tax proposals to reward companies that bring back jobs, while ending certain current tax breaks they say are effectively giving tax incentives to companies to move jobs overseas.
“Since day one, this Administration has been focused on encouraging investment and job creation here at home,” Vice President Biden added. “The business leaders coming here from across the country today have looked at the facts and concluded what the President and I have been saying all along: that America is the best place in the world to do business and create jobs. We’re calling on other companies to follow their lead and bring jobs back to America—jobs that provide middle-class families not just with a paycheck, but with a fundamental sense of dignity.”
Read the full announcement.
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