Tax Reforms

Recently, Obama presented Congress with a blueprint for an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values.

When, Obama took office, our auto industry was on the verge of collapse. Million of jobs were at stake. Although, Mitt Romney wrote an article for the New York Times entitled: “Let Detroit Go Bankrupt,” our President refused to let that happen.

In exchange for help, Obama demanded responsibility. They got workers and automakers to settle their differences. The industry retooled and restructured. General Motors is back on top as the world’s number-one automaker. Chrysler has grown faster in America than any major car company. And, Ford is investing billions in American plants and factories. The entire industry has added nearly 160,000 jobs.     

Today, companies get tax breaks for moving jobs and profits overseas. But, the companies that choose to stay in America get hit with one of the highest tax rates in the world. 

Obama said, that those business that want to outsource jobs, shouldn’t get a tax deduction for doing it. No American company should be able to avoid paying its fair share of taxes by moving jobs and profits overseas. He wants every multinational company to pay a basic minimum tax.  And, every penny should go towards lowering taxes for companies that choose to stay here and hire Americans.     

Congress should double the tax deduction, companies get for making products here. Companies that want to relocate in a community that haa been hit hard after a factory left town, should get help financing a new plant, equipment, or training for new workers.  

Obama wants Congress to start rewarding companies that create jobs right here in America.  He urged: “Send me these tax reforms, and I will sign them right away.”