[Congressional Record Volume 155, Number 111 (Wednesday, July 22, 2009)]
[House]
[Page H8499]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      INTERNATIONAL TAX PROPOSALS

  (Mr. ROSKAM asked and was given permission to address the House for 1 
minute.)
  Mr. ROSKAM. Americans are seeing jobs sift through their fingers like 
so many grains of sand. We have seen 2 million jobs lost since the 
stimulus passed, millions more under the cap-and-tax scheme that moved 
through the House, and even millions more lost if the health care plan 
moves forward.
  But our adventures don't stop there. The administration has proposed 
$200 billion in tax increases on worldwide American companies in the 
form of changes to tax deferral rules.
  A report released in June, coauthored by a former Clinton 
administration official, acknowledged that the deferral changes would 
cost as many as 2.2 million American jobs.
  This isn't about big, bad American companies. This is about American 
companies and workers having the tools to compete overseas to pursue 95 
percent of the world's customers who are living outside of the United 
States and our borders.
  Deferral is one of these tools that we need to make sure that is in 
place over the long run to make sure that Americans can compete in 
worldwide markets.

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