Reid files cloture on outsourcing bill

The bill, Creating American Jobs and End Offshoring Act, grants a two-year payroll tax holiday for companies that take on new employees who perform services in the U.S. that were once done abroad. 

It also restricts the use of deferral, which postpones taxes on foreign income until the funds are transferred to the U.S. 

Senate Minority Leader Mitch McConnell (R-Ky.) questioned the Leader's motive for bringing the bill forward since it adds $1 billion to the deficit.


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