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Senate Dems Push Jobs Tax Credit

Measure would give companies an incentive to move jobs back to U.S.

By Kathleen Hunter, Bloomberg | Updated on July 18, 2012

As President Barack Obama escalates his contention that Republican presidential candidate Mitt Romney supports policies that send jobs overseas, Senate Democrats want to advance a measure creating an incentive to bring jobs to the U.S.

The bill, sponsored by Michigan Democrat Debbie Stabenow, would give U.S. companies a 20 percent tax credit for the cost of moving jobs and investment to this country from overseas. It would deny companies a deduction for the expense of moving investment out of the U.S.

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