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Hillary focuses on incentivising 'insourcing' of jobs
Sridhar Krishnaswami in Washington | April 03, 2008 09:54 IST
Taking forward her campaign against outsourcing, Democratic presidential hopeful Hillary Rodham Clinton has unveiled a policy initiative, which seeks to incentivise 'insourcing' of jobs within US, while cutting tax benefits to companies shipping employment abroad.
The 'insourcing' plan unveiled in Pittsburgh, billed by Hillary's campaign as 'groundbreaking', provides $ 7 billion per year in new tax benefits and investments to help companies create high-paying, high-quality jobs in the US and to compete in the global economy.
"We reward companies like Exxon-Mobil who park $ 56 billion in profits overseas because they don't have to pay a dime in US taxes on those profits. And were using your tax dollars to reward companies that ship your jobs overseas," Clinton said.
"My insourcing agenda is based on a different approach. I believe our government should get out of the business of rewarding companies for shipping jobs overseas, and get back into the business of rewarding companies that create good, high-wage jobs with good benefits right here in America," she added.
The Clinton Campaign has said that she will eliminate the tax incentives and lax enforcement that make it easier to ship jobs and capital overseas by ending 'deferral' that rewards moving jobs overseas.