Republicans, with help from a handful of Democrats, used a filibuster to block a measure that would have used the tax code to punish big companies that shut U.S. manufacturing plants and move the jobs overseas.
The Senate voted 53-45 in favor of the procedural motion, but Democratic leaders needed 60 to take the bill up.
Current tax law allows companies to benefit in a variety of ways when they move jobs overseas, including deducting the costs of closing American plants. The proposed bill would have raised taxes on companies that move manufacturing jobs out of the country and provide a tax incentive for companies that decide to bring them back.
Senator Debbie Stabenow, D-MI, said it was an attempt to protect American workers and the bill "sends a simple message: stop shipping our jobs overseas."
But Republicans said they worried the bill could hurt the competitiveness of large American companies that still have a lot of American workers even if they do move some manufacturing plants to nations with cheaper labor.
Senator Chuck Grassley, R-Iowa, also slammed the bill as nothing but "gamesmanship" designed to help the Democrats in the upcoming elections.
It was in some ways a final parting shot for Democratic leaders, who have been unable to get much past Republican filibusters and will likely adjourn for the election as soon as they pass a continuing resolution, which is needed to keep the government operating after the fiscal year end on October 1st.
I wont forget this anytime soon. Neither should you.
6 comments:
Does this mean that Ulster County retired government employees can't buy property in Florida?
How does the Ulster County Chamber of Commerce justify buying a building from a Board Member?
The issue is not as simple as it seems. One of the consequences of this bill would be that instead of just moving some jobs out of the country, companies would re-incorporate outside of the country to another such as Ireland costing the US much more in the way of corporate taxes as well as moving other departments such as their R & D departments out of the country and cost the US even more jobs and tax revenue.
I wish these jobs would stay in the US too, but the truth is that you cannot simply threaten companies to make them stay. Other countries are making it more attractive to do business there and we need to take a larger look at our policies.
If you feel protectionism is a bad thing, in every degree, then why do we not ‘retaliate’ against those who practice it against us?
To many countries that we import from restrict the importation of our goods into their country.
I'm not suggesting a worldwide union, but What we need to do in this country is to force our leaders to insist that our trade partners live up to our trade agreements.
If Mexico and other countries enforced safety, labor, and environmental regulations as required in the treaties their cost and wages would even out the differences and cost of doing business. Just look at Canada; similar rules and regulations. similar labor cost, similar wages, safer products, no child labor, etc.
We need to further pressure our leaders to strengthen our treaties to contain language that prevents our partners from using third world labor practices for an advantage over us and the exploitation of their own people.
Any working person who votes Republican TeaParty in November is voting against themselves.
Republicans have always favored the rich at the expense of the middle class; they have always been the party of “No” with a disinterest in the needs of the people.
Over the past 40 years, they’ve been particularly destructive. Here are a list of others, who if they vote Republican, are also voting against themselves: women, retirees, Hispanic Americans, Gays, minorities, non Christians, Iraq and Afghanistan war vets, college students and others.
Turn off FOX-PAC and get your head out of your ass people.
Carl
If only the people were smart enough not to vote for Republicans. We really need to think about IQ testing for voting eligibility. We could cut it off below a hundred and not even be discussing this problem anymore. Imagine politics based on reality instead of bizarre superstitous fantasies.
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