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:

AFL-CIO was the major supporter of this bill. They gave money to various congressmen to support this bill. (top amount paid to a single person was around $16,000)

The Chamber of Commerce, along with a few other "interest groups" gave money to oppose this bill. (top amount paid to a single person was around $42,000)

So who has our best interests at heart? Some say we have to "compete" with typical overseas workers. So should that mean we accept $1/hr, work over 40 hours a week with no over time, reverse child labor laws and drop safety standards? I don't want to compete like that.