LATEST SENATOR CASEY
Washington, D.C. – Congressional Republicans’ tax plan includes provisions that may encourage companies to move production and jobs overseas. To ensure the Administration adheres to its numerous promises to “put American workers first,” U.S. Senators Bob Casey (D-PA), Sherrod Brown (D-OH), Debbie Stabenow (D-MI), Claire McCaskill (D-MO) and Bob Menendez (D-NJ) have penned a letter asking the Administration to prevent the inclusion of provisions in the tax bill that encourage outsourcing and outline meaningful steps it plans to take to prevent outsourcing.
Specifically, the GOP’s plan will reward U.S. companies that offshore jobs with a large tax cut on old profits unavailable to companies who keep their production in the United States. And it may allow future profits from outsourced manufacturing to never be taxed in the United States.
“Outsourcing causes job loss and wage decline and the Administration must have an effective strategy to combat it,” wrote the Senators. “The tax policies being pursued by Republicans in Congress are at odds with these objectives. We urge you to take steps to ensure that your statements on outsourcing are reflected in the positions Treasury takes in negotiations over the international components of the tax legislation with Senate Republicans.”
Read the Full Press Release