Senate Dems Push Jobs Tax Credit

Measure would give companies an incentive to move jobs back to U.S.

As President Barack Obama escalates his contention that Republican presidential candidate Mitt Romney supports policies that send jobs overseas, Senate Democrats want to advance a measure creating an incentive to bring jobs to the U.S.

The bill, sponsored by Michigan Democrat Debbie Stabenow, would give U.S. companies a 20 percent tax credit for the cost of moving jobs and investment to this country from overseas. It would deny companies a deduction for the expense of moving investment out of the U.S.

Poll Results

In a Bloomberg National Poll conducted June 17-20, 78 percent of respondents cited U.S. companies investing in jobs overseas as a major reason why the unemployment rate hasn’t declined significantly in the past two or three years.

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