I applaud the President for taking steps to close the tax loopholes that allow companies to move good-paying U.S. jobs overseas and to abuse the tax code to avoid paying taxes through offshore tax havens.
Our main street businesses are working hard during this economic downturn to pay their fair share of taxes. Some of the country’s largest corporations are using these loopholes to avoid paying their fair share of taxes, and to send American jobs overseas. These actions add to our nation’s debt and create a competitive disadvantage for the main street companies that play by the rules.
It is my hope that the Congress will quickly take action to pull the plug on tax breaks that subsidize runaway plants that move U.S. jobs overseas, and work to put an end to companies using tax havens to avoid paying their fair share.