Democrats Sought Vote to Close Corporate Deserter Tax Loopholes
Washington, D.C.-(ENEWSPF)- Leo W. Gerard, President of the United Steelworkers (USW), today condemned Senate Republicans for blocking passage of the ‘Bring Jobs Home Act’ (S.2569). The bill would advance tax credit for companies returning jobs to the U.S., and close a tax loophole that allows deduction for the costs of moving personnel and other business components overseas.
“The procedural vote on the U.S. Senate floor blocked advancement of the jobs bill by Republicans and their leadership, making a statement that corporate deserters get political priority for tax breaks in moving jobs overseas, rather than advancing tax credits to advocate jobs at home for American working families.
“USW members understand the importance of today’s vote and were actively engaged all across the nation in calling their U.S. Senators during the past week to urge support for proceeding with action for passage of the ‘Bring Jobs Home Act.’
“We will not give up on this important jobs legislation and will make it a benchmark of Election 2014 for U.S. Senators up for re-election. The USW stands with Sens. John Walsh (D-MT) and Debbie Stabenow (D-MI), plus Majority Leader Harry Reid (D-NV) in their efforts to bring this jobs bill on the floor for action.
“It is time for Congress to take action to reverse tax policies that create incentives to off-shore jobs instead of incentives to keep jobs here at home. Over the past decade, Americans have seen more than six million manufacturing jobs lost and over 55,000 manufacturing facilities shutter their doors forever.”
The USW is the largest private-sector union in North America, representing 850,000 workers employed in metals, mining, rubber, paper and forestry, oil refining and renewable energy products, chemicals, health care, and municipal governments. For more: www.usw.org/.