Labor

warning: Creating default object from empty value in /home/theliber/public_html/modules/taxonomy/taxonomy.pages.inc on line 33.

S.3816

S.3816 also known as `Creating American Jobs and Ending Offshoring Act' was sponsored by Dick Durbin (D-IL) an had eight co-sponsers. The republicans filibustered this bill and then blocked it.

The basics of this bill included:

1) a tax holiday for companies that returned jobs to America from overseas. (up to 24 months)
2) No more tax deductions or tax credits for the cost of an American job offshoring transaction
3) Eliminate the deferral of tax on income of a controlled foreign corporation attributable to property imported into the United States by such corporation or a related person, except for property exported before substantial use in the US and for agricultural commodities not grown in the US in commercially marketable quantities.

The whole bill can be viewed here: http://thomas.loc.gov/cgi-bin/query/z?c111:S.+3816:

up
3230 users have voted.

CNBC editor predicts Congress will retroactively legalize the foreclosure fraud

Congress will pass a bill to "forgive" banks' potentially criminal errors made in foreclosure proceedings, a senior CNBC editor predicts.

Mr. Carney says:

Here’s what is going to happen: Congress will pass a law called something like “The Financial Modernization and Stability Act of 2010” that will retroactively grant mortgage pools the rights in the underlying mortgages that people are worried about. All the screwed up paperwork, lost notes, unassigned security interests will be forgiven by a legislative act....

The [foreclosure] crisis is not driven by economics. It is driven by legal rights. And there’s simply zero probability that the politicians in Washington are going to let Bank of America or Citigroup or JP Morgan Chase fail because of a legal issue.

up
3631 users have voted.