Republicans Blocks Tax Hike on Firms Moving Overseas

By: AP
By: AP
Republican senators have blocked an election-year bill limiting tax breaks for U.S. companies that move operations overseas.

AP Photo

July 30, 2014

WASHINGTON (AP) - Republican senators have blocked an election-year bill limiting tax breaks for U.S. companies that move operations overseas.

The bill would have prevented companies from deducting expenses related to moving their operations to a foreign country. The bill also would have offered tax credits to companies that move operations to the U.S.

Democrats championed the bill, saying it would end senseless tax breaks for firms that ship jobs abroad.

Republicans called the bill an election-year stunt. They noted that Democrats tried to pass a similar bill two years ago, right before the last congressional elections.

The White House says President Barack Obama supports the bill.


The comments sections of Newsplex.com are designed for thoughtful, intelligent conversation and debate. We want to hear from our viewers, but we ask that you follow our rules for commenting. E-mail is required to comment on a story, but it will not be displayed with your comment. For complete rules, CLICK HERE. The Newsplex reserves the right to not post or to remove any comment.
powered by Disqus
The Charlottesville Newsplex 999 2nd Street S.E. Charlottesville, VA 22902 434.242.1919 – Main 434.220.7522 - Newsroom
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 269226831 - newsplex.com/a?a=269226831