President Obama will propose tax incentives for companies that create jobs and will try to eliminate tax breaks for companies that outsource jobs, he said in his weekly address.
"In the next few weeks, I will put forward new tax proposals that reward companies that choose to do the right thing by bringing jobs home and investing in America ? and eliminate tax breaks for companies that move jobs overseas," Obama said Saturday.
The tax proposals are part of the White House's "insourcing" push.
Obama on Wednesday urged the nation?s corporate executives to invest in the United States by insourcing jobs to help the economy rebound, saying it?s ?a race I want America to win.?
The president featured products made in America during his weekly address.
"The companies that make these products are part of a hopeful trend: they?re bringing jobs back from overseas," Obama said. "You?ve heard of outsourcing ? well, this is insourcing."
He also touted his plan to reorganize federal agencies to help businesses.
Obama, looking to make the federal government "leaner, smarter and more consumer-friendly," asked Congress Friday for the authority to merge six trade and commerce agencies as part of a broader effort to rebuild the government for a "21st century economy."
"These changes will make it easier for small business owners to get the loans and support they need to sell their products around the world," he said.
Source: http://thehill.com/video/administration/204161-obama-proposes-tax-breaks-for-investing-in-america
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