Whitehouse Introduces Amendment to Keep Jobs in America

Press Release

As the U.S. Senate continues to debate legislation to reauthorize funding for the Small Business Innovation Research (SBIR) program, Senator Sheldon Whitehouse has introduced an amendment to the bill to keep good jobs in America. The amendment, based on Whitehouse's Offshoring Prevention Act, would close a costly tax loophole that rewards companies for moving factories overseas.

In a statement for the congressional record introducing the amendment, Whitehouse highlighted the importance of manufacturing jobs to Rhode Island's economy.

"From the Old Slater Mill in Pawtucket -- one of the first water-powered textile mills in the nation -- to modern submarine production at Quonset Point, the manufacturing sector has always been central to our economy," Whitehouse said. "My amendment would remove one incentive to move jobs offshore and help to make competition fairer for companies struggling to keep their factory doors open here in the United States."

In addition to keeping manufacturing jobs in America, the amendment would reduce the federal deficit by $19.5 billion over the next decade, according to an analysis by the Joint Committee on Taxation. In his remarks, Whitehouse noted, "If we are going to be serious and fair about deficit reduction, we need to look at these corporate loopholes and giveaways, not just at cuts to Head Start, NPR and Planned Parenthood."

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