Obama calls on companies to ‘insource’ jobs
Obama calls on companies to ‘insource’ jobs
President Barack Obama is launching a full-court press to make it easier for companies to bring jobs back to the United States, including eliminating tax breaks that the administration says gives advantages to companies moving jobs overseas, the White House announced today.
The administration said it will also in coming weeks propose new tax rewards for companies that bring back jobs, MarketWatch reported.
To draw attention to the issue, Obama is hosting a group of business leaders, including executives from Ford Motor Co. and E.I. du Pont de Nemours & Co., to discuss “insourcing” American jobs.
The White House also released a report highlighting what it called “an emerging trend” of insourcing. In the past two years, 334,000 manufacturing jobs have been created, the report noted.
As part of the plan, Obama will propose in next year’s budget to add $12 million to a SelectUSA program to advocate at the national level for business investment.
Alan Tonelson, a research fellow at the U.S. Business and Industry Council, a trade group of small manufacturers pushing for a tougher U.S. trade stance, dismissed the White House push as “happy talk.”
Tonelson said that only tough trade sanctions on foreign countries would allow the domestic manufacturing sector to recover.
President Barack Obama is launching a full-court press to make it easier for companies to bring jobs back to the United States, including eliminating tax breaks that the administration says gives advantages to companies moving jobs overseas, the White House announced Wednsday.
The administration said it will also in coming weeks propose new tax rewards for companies that bring back jobs, MarketWatch reported.
To draw attention to the issue, Obama is hosting a group of business leaders, including executives from Ford Motor Co. and E.I. du Pont de Nemours & Co., to discuss “insourcing” American jobs.
The White House also released a report highlighting what it called “an emerging trend” of insourcing. In the past two years, 334,000 manufacturing jobs have been created, the report noted.
As part of the plan, Obama will propose in next year’s budget to add $12 million to a SelectUSA program to advocate at the national level for business investment.
Alan Tonelson, a research fellow at the U.S. Business and Industry Council, a trade group of small manufacturers pushing for a tougher U.S. trade stance, dismissed the White House push as “happy talk.”
Tonelson said that only tough trade sanctions on foreign countries would allow the domestic manufacturing sector to recover.
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