The GOP- the ‘job-creation party’- sunk a job initiative suggested by President Obama that would give tax breaks for companies that “insource” jobs to the U.S. from overseas while eliminating tax deductions for companies that move jobs abroad.
Why? Well, politics. The People be damned.
The bill, The Bring Jobs Home Act, would provide a 20% tax break for the costs of moving jobs back to the United States and would rescind business expense deductions available to companies that are associated with the cost of moving operations overseas.
Sounds real American, doesn’t it?
Senate Minority Leader Mitch McConnell [Top Priority, Make Obama a one term President] had warned Democrats before the vote that his party would want to amend the bill — possibly with hot-button issues like repealing the health care reform law or extending the Bush-era tax cuts for all income levels. Harry Reid said, ‘No!’
The Job Creators. Is that American jobs or off-shore jobs?