GOP’s McConnell calls ‘Bring Jobs Home Act’ a ‘silly waste of time’
In the U.S. Senate on July 19th, the “Bring Jobs Home Act” was stopped by the Republicans using the filibuster on a cloture vote preventing the legislation from advancing to the Senate floor for debate and an up or down vote. The cloture vote was 56-42. As Republicans, including Congressional leaders and GOP presumptive presidential nominee continue to claim that the Barack Obama administration has done “absolutely nothing to fix the economy” and “hasn’t lifted a finger to create jobs,” the cast yet another party-line vote … to do absolutely nothing to fix the economy.
The Bring Jobs Home Act would end a tax break for U.S. companies that outsource jobs to countries like China and India and would create a new tax cut to encourage U.S. companies to move jobs and business activity from another country back to America. Companies bringing jobs home would still be able to claim the current moving expense deduction when bringing jobs home, and would also receive a tax credit equal to 20% of the cost associated with bringing jobs and business activity back to the United States. The company will be able to apply the 20% tax credit against its corporate income tax.
Republican Minority Leader in the Senate, Mitch McConnell, dismissed the bill, saying “Democrats are clearly not interested in debating serious legislation.”
Every jobs Bill has been filibustered by the Republicans in the U.S. Senate since President Obama took office.
At a time when millions of Americans are looking for work, it sickens me to know that Republicans believe hiding anti-abortion measures into transportation bills is more serious than legislation that would protect — AND CREATE — good-paying, middle-class jobs. Sickened, but hardly surprised.
Republican-backed U.S. Chamber of Commerce opposes bill to bring jobs back to America
The U.S. Chamber of Commerce on Thursday announced its opposition to Senate legislation would create a tax break for U.S. multinational companies that move companies and jobs back to the United States from overseas locations.
The bill, Creating American Jobs and End Offshoring Act, grants a two-year payroll tax holiday for companies that take on new employees who perform services in the U.S. that were once done abroad. The bill also restricts the use of deferral, which allows companies to postpone paying taxes on foreign income until those funds are transferred to the U.S. The Chamber opposes this limitation and Chamber executive vice president Bruce Josten said the bill “puts the wants of American workers before the needs of the global business community.”
“Replacing a job that is based in another country with a job here in America does not stimulate economic growth or enhance the competitiveness of American worldwide companies,” wrote Josten in letter to senators. The Chamber deems the provision a “zero sum game” when it comes to boosting economic activity internationally.
Remember this next time (most likely, Sunday morning on the political pundit talk show circuit) you hear Mitch McConnell, John Boehner, Paul Ryan, or any of the other two-faced, corporate-puppet, party-before-country Republicans and teabaggers slogging on and on about all the things President Barack Obama hasn’t done.
CBPP proves Republican policies entirely to blame for deficits through 2019
The results of an analysis by the Center on Budget and Policy Priorities (CBPP) released late yesterday demonstrate that the Bush era tax cuts, and the bloated costs of the wars in Iraq and Afghanistan account for virtually the entire federal budget deficit projected through 2019.
The analysis cites Washington Post columnist Robert Samuelson’s retrospective in an article last week, which asked, “why did the federal government amass large deficits between 2002 and 2011, rather than the large surpluses that the Congressional Budget Office (CBO) projected in early 2001.” In part, Samuelson that the 2001 and 2007-2009 economic downturns were found to be more significant than any single legislative change that policymakers enacted, citing an analysis of CBO data that ascribed nearly a quarter of the budget deficit over that period to the 2001 and 2003 Bush era tax cuts and the Iraq and Afghanistan wars.
While recent polling demonstrates that Americans may be awakening to the political and economic realities, they also demonstrate a disconcerting lack of understanding – and blatant disregard – for facts, truth and legitimate information. The support for Mitt Romney, the presumptive Republican nominee, and presumably for GOP congressional candidates remains at nearly double the number of the party’s core constituents. Putting a stop to the lies, distortions, and intentionally out-of-context misquoting will be necessary if the Republicans are to be reduced to the irrelevant minority to which they must be reduced if the nation and all its people ever again hope to prosper and thrive. If not, we should get used to wearing burlap sacks and living in straw huts and caves while the Greedy One Percenters’ castles block out the sun.