Senate Democrats Make One Last Push At Jobs Bill

[laughingliberal]

Hoping to turn the spotlight one more time on their efforts to solve the jobs crisis, Senate Democrats are planning to vote on a payroll tax incentive by the end of next week, leadership aides confirmed.

The bill, entitled "Creating American Jobs and Ending Offshoring Act," would provide payroll tax relief to companies which hire employees domestically during a three-year period beginning September 22.

The legislation is similar to the one President Obama has begun touting as a quick and politically palatable measure to encourage companies to hire new workers -- though the progressive economic community is skeptical that it will be effective.

"We hope to have a vote on it by the end of next week," said Jim Manley, a spokesman for Senate Majority Leader Harry Reid (D-Nev.). "This bill is very different then previous bills we have taken to the floor. We are optimistic it is going to enjoy more support than previous efforts relating to shopping jobs overseas." <snip>

http://www.huffingtonpost.com/2010/09/22/senate-democrats-make-one_n_735436.html

This bill looks like a great start. It's long past time to quit rewarding assholes for moving our jobs out of the country. If this goes down, President Obama needs to hit the campaign trail and target everyone who voted against it as 'voting to send your job to China.'

Let everyone you know they should call their Senator and support this bill.

[nashville_brook]

1. this is great! here's the details of the bill -->

Creating American Jobs and Ending Offshoring Act S. 3816

Incentive to Create American Jobs

To encourage businesses to create jobs in the United States, the Creating American Jobs and Ending Offshoring Act provides businesses with relief from the employer share of the Social Security payroll tax on wages paid to new U.S. employees performing services in the United States. To be eligible, businesses must certify that the U.S. employee is replacing an employee who had been performing similar duties overseas. This payroll tax relief is available for 24 months for employees hired during the three-year period beginning September 22, 2010. The Joint Committee on Taxation has not yet scored this proposal.

Disincentives to Moving American Jobs Overseas

End Subsidies for Plant Closing Costs. The Creating American Jobs and Ending Offshoring Act eliminates subsidies that U.S. taxpayers provide to firms that move facilities offshore. The bill prohibits a firm from taking any deduction, loss or credit for amounts paid in connection with reducing or ending the operation of a trade or business in the U.S. and starting or expanding a similar trade or business overseas. The bill would not, however, apply to any severance payments or costs associated with outplacement services or employee retraining provided to any employees that lose their jobs as a result of the offshoring. Firms can apply to the Treasury Secretary for relief from this rule for transactions that do not result in the loss of employment in the U.S. The Joint Committee on Taxation has not yet scored this proposal.

End Tax Break for Runaway Plants.

The Creating American Jobs and Ending Offshoring Act ends the federal tax subsidy that rewards U.S. firms that move their production overseas. Under current law, U.S. companies can defer paying U.S. tax on income earned by their foreign subsidiaries until that income is brought back to the United States. This is known as "deferral." Deferral has the effect of putting these firms at a competitive advantage over U.S. firms that hire U.S. workers to make products in the United States. The bill repeals deferral for companies that reduce or close a trade or business in the U.S. and start or expand a similar business overseas for the purpose of importing their products for sale in the United States. U.S. companies that locate facilities abroad in order to sell their products overseas are unaffected by this proposal. The Joint Committee on Taxation has not yet scored this proposal.

[laughingliberal]

3. I can't see how any Senator could vote no on this & face working class people in their states. nt

[nashville_brook]

5. yep -- the timing is perfect. i actually have hope for this.

[old mark]

2. I sure hope we can find enough votes to pass this - this is very necessary. nt

[Bitwit1234]

4. they will never get their message to the public the so called

republican corporate "liberal" media won't let them. It will be the Democrats fault again that they bills aren't passed.

I know a cool law to pass.==== Every American that fails a quick test which tells us how our congress works and how the senate has to put up with the filibuster and the 60 vote for bringing a bill to the floor has to go to a seminar AND PASS IT. In this seminar they will be told exactly how our government IS SUPPOSED TO WORK. And how the republicans are using it to bring this country down.

[laughingliberal]

6. I would hope it has a better chance than you think it does. I would love to see more about how...

it will punish companies for sending your job overseas. That's the framing we need-this bill will punish those who send your job overseas and reward companies for keeping jobs at home. It needs to be the focus.