By Brai Odion-Esene
WASHINGTON (MNI) – The White House said Wednesday the
administration will soon unveil tax proposals that reward firms that
choose to expand their activities within the United States, and penalize
those that relocate abroad, part of ongoing efforts by the
administration to spur stronger economic growth and boost employment.
“In the coming weeks, the President will put forward new tax
proposals to reward companies that choose to invest or bring back jobs
to the United States, and to eliminate tax advantages for companies
moving jobs overseas,” the White House said in a statement released
ahead of President Barack Obama’s “Insourcing American Jobs” forum.
In an excerpt from prepared remarks to be delivered to CEOs at the
forum, Obama said he is “calling on those businesses that haven’t
brought jobs back to take this opportunity to get the American people
back to work. That’s how we’ll rebuild an economy where hard work pays
off and responsibility is rewarded — and a nation where those values
live on.”
Obama also will propose new ways to encourage U.S. firms “to seize
this opportunity” to increase investment domestically and bring jobs
back to America, the statement said.
According to the White House, the forum will focus on the
increasing trend of insourcing — where companies are bringing jobs back
to the United States and making additional domestic investments.
Obama, Vice President Joe Biden, and senior administration
officials “will lead a discussion on ways to encourage companies across
the country to insource American jobs and help rebuild our economy for
the future,” the White House said.
** Market News International Washington Bureau: 202-371-2121 **
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