By The Hill Staff - 09/28/10 02:44 PM EDT
"Of course they are [opposed]," Sanders told reporters. "They much prefer paying people in Vietnam 20 cents an hour than American workers a living wage."
Last week, NAM and the Chamber raised concerns that the bill would impose new costs on U.S. multinational companies, making them less competitive in the global marketplace and jeopardizing U.S. job creation.
"American companies with overseas operations support and create U.S jobs," NAM stated in a letter to lawmakers last week. "An estimated 22 million people in the United States — including more than 53 percent of all manufacturing workers — are employed by companies with operations abroad. With more than 95 percent of the world's customers outside the United States, American companies establish operations abroad in order to penetrate foreign markets and add new customers."
The Chamber deemed the bill's payroll tax holiday a "zero sum game" when it comes to boosting economic activity internationally.
"Replacing a job that is based in another country with a domestic job does not stimulate economic growth or enhance the competitiveness of American worldwide companies," wrote Chamber executive vice president Bruce Josten in letter to senators.
Josten also claimed the deferral provision would hurt U.S. competitiveness abroad.
"Limiting deferral would hinder the global competitiveness of these American companies, impede U.S. economic growth and ultimately result in the loss of jobs -- both at the companies directly impacted and companies in their supply chains," Josten stated.
Sanders suggested that these organizations oppose the bill because it bolsters the bottom lines of their members.
"It is to their advantage, in many cases, to shut down plants here and pay people a fraction of the wages that American workers lose by going to China," Sanders said. "What's the surprise about that?"