house Bill H.R. 685
Ending Tax Breaks For Outsourcing & Giving Businesses Tax Credits For Bringing Jobs to the U.S.
Argument in favor
American companies shouldn’t be rewarded with tax deductions when they outsource jobs overseas. Ending that tax break while creating a tax credit for businesses that bring jobs back to the U.S. would help the economy.
08/08/2017
They shouldn't get tax breaks at all but if they must. Tie it to paying living wages.
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08/08/2017
This is a partial yea comes with a caveat. The tax credits ought only be given to companies that outsourced prior to passage of the bill.
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08/08/2017
This should be amended to only apply to already established overseas operations and exclude any operations currently in development or developed after the passage of this bill.
Argument opposed
Politically-motivated changes to our overly complex tax code are a bad idea, and this bill is no different. It would encourage businesses to set up operations overseas, then close & relocate them to the U.S. with the help of the tax credit.
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08/08/2017
Fix the bill. Make it only apply to companies that outsourced jobs before this bill are eligible for the tax breaks.
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08/08/2017
“Image a company that’s deciding between establishing a factory costing $1 million in Honduras and establishing a $10 million factory in Massachusetts. The greater productivity here might well offset the higher costs. But under the Bring Jobs Home Act, a smart company would open first in Honduras, then shut down and then relocate to the Bay State. The firm would get $2 million in tax credits, which would more than offset the cost of the Honduran operation. The tax code would encourage businesses to start a foreign operation first — by subsidizing the cost of later switching to the United States.”
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08/08/2017
Can't have businesses leaving the US so they can return and receive a tax credit.
They shouldn't get tax breaks at all but if they must. Tie it to paying living wages.
Fix the bill. Make it only apply to companies that outsourced jobs before this bill are eligible for the tax breaks.
This is a partial yea comes with a caveat. The tax credits ought only be given to companies that outsourced prior to passage of the bill.
I'm super uncomfortable with anything that gives corps more ways to avoid taxes. They already don't pay their share.
“Image a company that’s deciding between establishing a factory costing $1 million in Honduras and establishing a $10 million factory in Massachusetts. The greater productivity here might well offset the higher costs. But under the Bring Jobs Home Act, a smart company would open first in Honduras, then shut down and then relocate to the Bay State. The firm would get $2 million in tax credits, which would more than offset the cost of the Honduran operation. The tax code would encourage businesses to start a foreign operation first — by subsidizing the cost of later switching to the United States.”
Can't have businesses leaving the US so they can return and receive a tax credit.
This should be amended to only apply to already established overseas operations and exclude any operations currently in development or developed after the passage of this bill.
No! Give me a break. What a ridiculous suggestion. But like the saying: "You never know unless you ask." We taxpayers need a tax free Holliday. Can I start a LLC and apply for tax credits by not hiring off-shore employees?
How many more corporate tax breaks are we going to give away?!
I am shocked that we STILL are giving tax breaks to companies who are leaving the country to avoid paying US taxes on income, and who are moving US jobs to lower-paid workers. Create a new bill to stop the tax incentives for taking businesses off shore.
I say no tax breaks either way. Instead, only allow businesses that off-shored prior to this bill being passed. Companies that off-shore to leave the US after bill was passed should not be able to take any tax deduction. Hopefully this will stop more companies from leaving. Furthermore, can this bill require these companies to pay foreign employees the same wages per hour as US workers were getting when the company closed down US operations.?
Yes on condition. Companies do not need tax breaks to bring jobs back. And when they move them out again, to another country or State, how do we "claw back" those taxes. That's what the bill needs to do!
Good start on a bill that needs a little work. The only companies eligible should be those who are already established in foreign countries. Otherwise, companies will move to foreign locations first, close, and move back for the tax credit. Companies that return home should also be required to increase their American employment to a specified level.
Companies should receive the tax break only if they outsourced previously.
Yes, big business has been taking advantage of everyone, including the strength of America itself. Great start, but we need to close the loopholes these US owned companies use to not pay taxes on the money they earn overseas.
But tax breaks should be across the board vs to select business.
How it was allowed to get tax beaks for offshoring was deplorable. Offshoring should cost companies millions rather than allow them to profit.
We shouldn't reward employers for taking jobs away from hard working Americans.
Stop with all the tax breaks! Reduce the corporate tax rates so the US is a viable business environment. Certainly stop the tax breaks that they may receive when they leave.