NO EXCUSE: Senator Burr Voted to Protect Tax Breaks for Companies That Ship American Jobs Overseas
September 28, 2010
NO SURPRISE: Burr Once Again Puts Corporate Profits above Middle-Class North Carolina Families
WashingtonPost: ‘Senate GOP blocks bill that would promote less outsourcing’
WashingtonDC– Senator Richard Burr fell in line with his Republican colleagues today who voted unanimously to block legislation that would incentivize companies that keep American jobs here at home and close tax loopholes that encourage corporations to off-shore American jobs.
Tom McMahon, Executive Director, Americans United for Change: “Senator Burr owes middle-class North Carolina families a very good explanation why he voted today to protect tax breaks that reward companies for sending American jobs overseas. While Senator Burr has no excuse, his vote came as no surprise. Earlier this summer, Senator Burr voted against closing these kinds of senseless corporate tax loopholes even when the jobs of thousands of cops, fire fighters and teachers in North Carolina were on the chopping block. The special interests have no better friend in Washington than Senator Burr – a friend they can always count on to look out for their bottom line, whether it was his vote against reining in the reckless behavior on Wall Street or his insistence on extending the deficit-exploding Bush tax cuts for the richest 2 percent. When it comes Senator Burr’s priorities, middle-class North Carolina families always seem to be left waiting at the back of the line.”
Senate GOP blocks bill that would promote less outsourcing
WashingtonPost Staff Writer
Tuesday, September 28, 2010; 12:34 PM
Senate Republicans on Tuesday blocked a Democratic plan to encourage companies to bring jobs back from overseas, as a united GOP caucus voted against a motion to debate the measure on the Senate floor.
The motion failed 53 to 45.
The legislation would have raised taxes on corporations that shift operations overseas, costing U.S. jobs. It also would have awarded companies that bring jobs back from abroad by offering a two-year hiatus from payroll taxes for those positions.
After abandoning plans to extend middle class tax-cuts before the November elections, Senate Democrats turned to the outsourcing issue, which they view as politically potent because it shows concern for the heavy-manufacturing job losses that have devastated communities in Midwest and East Coast industrial states. Democrats now plan to try to extend the tax cuts during a lame-duck session in mid-November.
The tax bill under consideration Tuesday included three parts: an end to tax deductions for expenses incurred when companies shutter a U.S. operation and shift the work abroad, a new tax on products once made in the United States but now manufactured by foreign workers and the payroll tax holiday.
All told, Democrats said the measure would have cost $720 million over 10 years.
Business groups strongly opposed the measure, saying it would hamper their efforts to compete in foreign markets.