For Immediate Release: Monday July 16, 2012
Media Contact: Jeff Harris, Indiana State AFL-CIO, 317.632.9147
GUYOTT: PENCE’S RHETORIC DOESN’T MATCH RECORD
Pence votes to block consideration of bill to end tax breaks for off shoring jobs
INDIANAPOLIS – Indiana AFL-CIO President Nancy Guyott issued the following statement in reaction to a procedural vote Congressman Mike Pence cast last week that blocked consideration of the Bring Jobs Home Act.
The legislation sought to eliminate tax loopholes that reward American corporations that ship jobs overseas, replacing them with incentives for U.S. companies that move jobs and business operations to America from another country.
Last Tuesday, Pence voted on a motion (H.R. 5542) that shut off debate and prevented an amendment from being offered that would have called for a vote on the Bring Jobs Home Act. Instead Pence supported a measure to take another irrelevant vote on repealing the Affordable Care Act, the 33rd such vote.
“When it comes to job creation, Congressman Mike Pence’s record doesn’t match his rhetoric. While campaigning for governor he claims that “jobs” are his top priority yet when given the chance to bring legislation to the floor of the U.S. House of Representatives that would help create thousands of jobs for working men and women, Mike Pence voted the wrong way.
Congressman’s Pence’s vote was a vote to preserve the outrageous practice of giving corporations our tax dollars to help them ship American jobs overseas. It was a vote to block millions of American jobs from coming back home. And, it was a vote that put a higher priority on partisan politics than on creating jobs.
Mike Pence should be ashamed and all Hoosiers should be alarmed.”
Specifically, the Bring Jobs Home Act allows companies to qualify for tax credits equal to 20 percent of the cost associated with bringing jobs and business activity back to the United States. It also ends a tax deduction for companies that outsource jobs and business activity. Under existing law, the cost of moving personnel and components of a company to a new location is defined as a business expense that qualifies for a tax deduction. If passed, this legislation would keep this deduction in place for companies that bring jobs and business activity back to the U.S. but businesses would no longer be eligible for the tax break for shipping jobs overseas.
The Indiana State AFL-CIO (American Federation of Labor and Congress of Industrial Organizations) is a federation of 800 local unions across the state belonging to 50 International Unions. In total, the Indiana State AFL-CIO represents more than 300,000 working Hoosiers.
For more information on please visit www.inaflcio.org or call 1-800-433-8423.