Statement of the Hon. Rosa L. DeLauro on the GOP Corporate Tax-Giveaway Bill

Statement of the Hon. Rosa L. DeLauro on the GOP Corporate Tax-Giveaway Bill

Washington, DC - Congresswoman Rosa L. DeLauro (D-CT) today released the following statement in response to passage of the Republican tax bill that promotes exporting American jobs and adds to the deficit by giving millions of dollars in tax breaks to special interests.

"With this bill, the Congress had a chance to provide real help to our hurting manufacturers - by providing tax relief to American manufacturing - including small business and farmers - and cracking down on tax shelters and corporations that move overseas to avoid paying taxes. Instead, the House Republican Leadership have again chosen to reward companies who are outsourcing good paying jobs overseas and contributing to the erosion of the American workforce."
"This bill shamefully provides at least $30 billion in tax breaks in additional tax incentives for companies to move overseas - that is to take American jobs and ship them to other countries. It includes a large loophole that allows corporations to outsource almost all of the work needed to make a product and still reap most of the benefits from a tax break for 'domestic production'. The bill also adds another $34 billion to our already-record $500 billion deficit and is full of special interest giveaways. It is a sad day in this institution when the Leadership take an opportunity to help out Americans in this tough economy and turns it a special interest giveaway that will send jobs overseas."