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 McConnellAddison (Mitch) Mitchell McConnellSenate passes 0B defense bill Overnight Health Care: New GOP ObamaCare repeal bill gains momentum Overnight Finance: CBO to release limited analysis of ObamaCare repeal bill | DOJ investigates Equifax stock sales | House weighs tougher rules for banks dealing with North Korea MORE (R-Ky.) questioned the Leader's motive for bringing the bill forward since it adds $1 billion to the deficit.