The President believes we must attract and keep good jobs in the U.S. by rewarding companies who bring jobs back to America. That’s why he called on Congress to pass legislation that gives companies a tax credit for moving operations back to the United States. It was paid for by eliminating deductions for expenses associated with moving operations overseas.
Unfortunately, Republicans in Congress blocked this proposal from moving forward. Rather than encouraging companies to bring jobs back to our shores, they chose to play politics and block measures that will create jobs and strengthen the middle class. We will continue to push Congress to act on proposals like this one and the other remaining portions of the President’s American Jobs Act that independent economists say would create a million new American Jobs. It’s time for Republicans in Congress to stop obstructing these commonsense proposals and act to create good jobs here at home.