Senate Democrats

Reid: Republicans Claim To Care About The Deficit, Then Fight For More Tax Breaks For Millionaires & Corporations That Ship Jobs Overseas

Washington, D.C.Nevada Senator Harry Reid spoke on the Senate floor today regarding the Bring Jobs Home Act, a bill to end taxpayer incentives for companies to outsource American jobs. Below are his remarks as prepared for delivery:

If you own a business in this country, your goal is to make a profit.

There’s nothing wrong with that. Millions of hard-working America entrepreneurs are the backbone of our economy.

And if your company boosts profits by sending jobs overseas, that’s your right as a business owner.

But American taxpayers shouldn’t subsidize your business decision to outsource jobs, especially when there are millions of people in this country looking for work.

Over the last 10 years, 2.4 million jobs in call centers and sales centers, in financial firm and factories were shipped overseas.

And American taxpayers helped foot the bill.

Every time U.S. companies ship jobs or facilities overseas, taxpayers help cover their moving costs.

The Bring Jobs Home Act would end these disgraceful subsidies for outsourcing. And it would give a 20% tax credit for the costs of moving production back to the United States.

But Republicans are filibustering this common-sense legislation.

It’s no surprise Republicans are on the side of corporations making big bucks sending American jobs to China and India.

After all, their presidential nominee, Mitt Romney, made a fortune outsourcing jobs, too.

So Republicans are once again putting tax breaks for big corporations and multi-millionaires ahead of the needs of ordinary Americans.

And what most Americans need is a good job here at home and the assurance their taxes won’t go up on January 1.

Yet Republicans in Congress are filibustering legislation to bring jobs home to America.

And they’ve twice blocked a vote on legislation to keep taxes low for 98 percent of American families.

It was Republicans who asked for a vote on their plan to raise taxes for 25 million families and a vote on our plan to keep taxes low for 135 million American taxpayers.

So we offered them what they wanted. We offered them up-or-down votes on both proposals.

No procedural hoops. No delay tactics. Just simple, majority votes on our plan and on theirs.

They refused.

Maybe they refused because they don’t have the votes for their plan to raise taxes on 25 million American families.

Or maybe they refused it because a majority of Americans support our plan to keep taxes low for 98 percent of families, while asking the top 2 percent to contribute a little bit more to reduce the deficit.

Even a majority of Republicans in America support our plan.

Yet still Republicans in Congress are holding hostage tax cuts for nearly every family in America to extort more budget-busting giveaways to millionaires and billionaires.

For a year, the budget deficit was all Republicans talked about.

They were willing to end Medicare as we know it, slash nursing home benefits for seniors, cut investments in education and raise taxes on the middle class – all in the name of deficit reduction.

But now that Democrats have a plan to reduce the deficit by hundreds of billions of dollars simply by ending wasteful tax breaks, Republicans have given up on fiscal responsibility.
So I say this to my Republican friends: you can’t have it both ways.

You can’t call yourself a deficit hawk, then fight for more tax breaks for millionaires and billionaires.

And you can’t call yourself a fiscal conservative, then fight to protect tax breaks for companies that outsource jobs to India or China.