Creating American Jobs and Ending Offshoring Act Bill # S.3816

I'm not sure if this is the right place to post this, but it Sounds Like a good idea[u][i]

Introduced 9/21/10 ( Probably won't go through before the elections )

Original Sponsor:
Richard Durbin (D-IL)

Cosponsor Total: 9
(last sponsor added 09/27/2010)
8 Democrats
1 Independents


About This Legislation:

9/21/2010--Introduced.
Creating American Jobs and Ending Offshoring Act - Amends the Internal Revenue Code to: (1) exempt from employment taxes for a 24-month period employers who hire a employee who replaces another employee who is not a citizen or permanent resident of the United States and who performs similar duties overseas; (2) deny any tax deduction, deduction for loss, or tax credit for the cost of an American jobs offshoring transaction (defined as any transaction in which a taxpayer reduces or eliminates the operation of a trade or business in connection with the start-up or expansion of such trade or business outside the United States); and (3) eliminate the deferral of tax on income of a controlled foreign corporation attributable to property imported into the United States by such corporation or a related person, except for property exported before substantial use in the United States and for agricultural commodities not grown in the United States in commercially marketable quantities.

More info here: http://www.congress.org/congressorg/issues/bills/?billtype=S.&billnumb=3816&congress=111

daytonaman wrote:I'm not sure if this is the right place to post this, but it Sounds Like a good idea[u][i]

Introduced 9/21/10 ( Probably won't go through before the elections )

Original Sponsor:
Richard Durbin (D-IL)

Cosponsor Total: 9
(last sponsor added 09/27/2010)
8 Democrats
1 Independents

.....

Yup, this is the right place for new bills discussion. Bernie Sanders was on the Ed Schultz Show last night talking about this bill. (He's the one Independent co-sponsor listed.) He said much more was needed (of course!), but that this would be a good start.