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224:(R-KY) accused the Democrats of only being interested in politics and not in actually encouraging companies to stay in the United States. McConnell pointed to reducing corporate tax rates as a step that would keep businesses in the United States that the Democrats have been unwilling to take. According to McConnell, the bill is "designed for campaign rhetoric and failure - not to create jobs here in the U.S."
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criticized the bill as a "message bill" that "Democratic sponsors have no interest in making" law because "they merely see it as a way to boost the party's Senate candidates in part by forcing
Republicans against something that sounds like a good idea." Cleckman argued that major U.S. firms already
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pay such low taxes, that any tax credits available for bringing business units back to the United States would be meaningless. He also argues that the bill won't do anything to increasing hiring in the United States because the company can claim the credit with as few as one new job.
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Senator Walsh is considered "one of the most vulnerable incumbents in this election cycle." Walsh has alleged that his opponent was involved in outsourcing. According to Walsh, "it is outrageous that
Americans are forced to subsidize corporate decisions to ship jobs overseas."
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expenses incurred in relocating a U.S. business outside the United States. The bill would require an increase in the taxpayer's employment of full-time employees in the United States in order to claim the tax credit for insourcing expenses.
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expenses incurred for eliminating a business located outside the United States and relocating it within the United States, and (2) deny a tax deduction for
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expenses incurred for eliminating a business located outside the United States and relocating it within the United States, and deny a tax deduction for
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American companies can currently deduct the costs of moving facilities overseas from their taxes, something that would change under this bill.
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198:(D-MI) was an initial co-sponsor. On July 23, 2014, the Senate voted to advance the bill for consideration in a vote of 93-7.
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Stabenow said that "we've got to make sure the tax code reflects the right values and policies."
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reported that the bill would result in the government losing $ 214 million in revenue over 10 years.
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The text of S. 2569 is identical to a bill written by the
Senator Stabenow that failed in the
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A bill to provide an incentive for businesses to bring jobs back to
America.
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expenses incurred in relocating a U.S. business outside the United States.
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to: (1) grant business taxpayers a tax credit for up to 20% of
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This summary is based largely on the summary provided by the
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to grant business taxpayers a tax credit for up to 20% of
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Proposed legislation of the 113th United States
Congress
319:"Senate advances bill to end tax breaks for outsourcing"
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348:"Borrowed time: Tale of a Walsh bill"
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424:Library of Congress - Thomas S. 2569
458:from websites or documents of the
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394:Gleckman, Howard (24 July 2014).
346:Everett, Burgess (23 July 2014).
121:The bill was introduced into the
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454: This article incorporates
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396:"The Bring Jobs Home Act Won't"
155:Congressional Research Service
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317:Cox, Ramsey (23 July 2014).
142:112th United States Congress
127:113th United States Congress
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444:WashingtonWatch.com S. 2569
229:Joint Committee on Taxation
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429:beta.congress.gov S. 2569
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460:United States Government
439:OpenCongress.org S. 2569
372:. United States Congress
281:. United States Congress
370:"S. 2569 - All Actions"
220:Senate Minority Leader
456:public domain material
192:Sen. John Walsh (D-MT)
148:Provisions of the bill
87:Sen. John Walsh (D-MT)
56:Sen. John Walsh (D-MT)
202:Debate and discussion
167:Internal Revenue Code
108:Internal Revenue Code
62:Number of co-sponsors
188:United States Senate
123:United States Senate
434:GovTrack.us S. 2569
279:"S. 2569 - Summary"
190:on July 8, 2014 by
100:Bring Jobs Home Act
70:Legislative history
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51:Sponsored by
175:outsourcing
125:during the
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350:. Politico
260:References
215:Harry Reid
194:. Senator
171:insourcing
133:Background
112:insourcing
79:Introduced
31:Long title
469:Category
323:The Hill
248:See also
213:Senator
405:25 July
376:25 July
354:25 July
328:25 July
285:25 July
161:source.
400:Forbes
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
