“I was proud to vote for an important bill that closes tax loopholes used by big corporations to outsource American jobs to foreign countries,” said Rep. McNerney, a co-sponsor of the bill, “outsourcing has cost California too many good jobs. We should make sure our policies encourage job creation here at home.”
In June, Rep. McNerney introduced H.R. 5622, the Stop Outsourcing and Create American Jobs Act, which prevents abuse of corporate tax haven countries and grants preferences in government contracts to companies that don’t outsource American jobs.
On Friday, July 30th, a similar bill that was to close tax loopholes that give big corporations the incentive to create jobs overseas instead of in the U.S. — H.R. 5982, the Small Business Tax Relief Act— was passed by the House. Yet, since the bill required two-thirds support to pass was defeated with 241 votes in favor of the legislation and 154 against. Again, all House Republicans but two voted against.