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Obama to end tax breaks for outsourcers

by: Admin

Thursday, January 28, 2010 | Outsourcing News |

Obama to Slash Tax Breaks for Companies Outsourcing Abroad

President Barack Obama said in his State of the Union address that it was time to cease tax breaks for American firms that outsource jobs overseas, helping those that increase employment within the country instead.

“...it is time to finally slash the tax breaks for companies that ship our jobs overseas, and give those tax breaks to companies that create jobs right here in the United States of America,” the President said.

"Now, the House has passed a jobs bill that includes some of these steps. As the first order of business this year, I urge the Senate to do the same, and I know they will. They will. People are out of work. They're hurting. They need our help. And I want a jobs bill on my desk without delay."

The President acknowledged, however, that the move would not compensate for the current rate of unemployment.

"But the truth is, these steps won't make up for the seven million jobs that we've lost over the last two years.”


Source:
http://infotech.indiatimes.com

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