Obey supports bill to close tax loopholes that reward outsourcing American jobs

WASHINGTON, D.C. – Seventh District Congressman Dave Obey (D-WI) today praised the jobs bill passed by the House as a long overdue action to keep American jobs at home rather than shipping them overseas.

“The most important portion of the bill for workers who have lost their jobs through no fault of their own is that it prevents 1.2 million American workers from losing their unemployment benefits at the end of next month.  And secondly it goes a long way toward closing a tax loophole that has allowed corporations to move overseas and bring their profits home, but keep the jobs offshore.  Government has no business asking the taxpayer to subsidize foreign jobs,” Obey said.

In addition to extending unemployment benefits, the American Jobs and Closing Tax Loopholes Act provides tax benefits to middle class Americans by by closing the tax loopholes that big businesses have exploited to ship jobs overseas and that allowed Wall Street billionaires to pay a much lower tax rate on their income. 

The bill supports more than a million American jobs by helping restore credit to small businesses, extending the R&D tax credit, rebuilding American roads and bridges.

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