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July 17th, 2012
11:54 AM ET

Sen. Stabenow on companies outsourcing jobs: 'We'll pay for you to come back, we're not going to pay for you leaving'

Senator Stabenow will announce and outline her "Bring Jobs Home" Act, which she will file in the Senate today. The bill ends a tax break that currently rewards U.S.companies for moving jobs abroad.  

"Right now, unbelievably, we pay for part of the cost of someone closing their shop and shipping the jobs over seas because they can write that off as a business expense.," Sen. Stabenow tells Soledad on "Starting Point" this morning. She has a message for those outsourcing jobs: "'This is simple. We're just not going to pay for your moving. Period. We'll pay for you to come back, we're not going to pay for you leaving."

In turn, the Michigan senator says the bill will cut taxes for U.S. companies that move jobs from another country back to America. "We're happy to have you write up the cost of bringing jobs home and we'll write up a 20% tax credit," Sen. Stabenow says.

The Senator went on to say this is not a partisan issue but rather an issue that concerns all Americans. Senator Stabenow, who serves as chair of the Senate Agriculture Committee, says "we need to make things here, we need to grow things here... we need to bring jobs back."

Filed under: Jobs • Outsourcing