Reid tees up bill to end tax break for outsourcing

Senate Majority Leader Harry Reid (D-Nev.) set up a procedural vote on a bill that would end tax breaks for companies sending jobs overseas.

Sen. John Walsh (D-Mont.) introduced S. 2569, the Bring Jobs Home Act, which would provide incentives to businesses that bring jobs back to the United States, including a the ability to write off cost associated with relocating to the United States and an additional 20 percent tax credit.

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“Over the last 10 years, 2.4 million jobs have been shipped overseas,” said Sen. Debbie Stabenow (D-Mich.), a sponsor of the bill. “American taxpayers are footing the bill for this move. … The Bring Jobs Home Act is a way to address that and stop that from happening.”

The first procedural vote is expected Wednesday. Democrats will need at least five Republicans to vote with them to advance the legislation. 

If Republicans block the bill, Democrats will likely use it against them in the November elections, saying Republicans support big business more than creating middle-class jobs.

Walsh is one of the most vulnerable incumbents this election cycle. His opponent, Rep. Steve Daines (R-Mont.), ran Procter & Gamble factories in China. Walsh’s campaign has argued that Daines helped ship jobs overseas.