[Congressional Record Volume 157, Number 100 (Thursday, July 7, 2011)]
[House]
[Page H4687]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         FREEDOM TO INVEST ACT

  (Mr. DOLD asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. DOLD. Mr. Speaker, there is no doubt that our economy is 
struggling. With stagnant unemployment, over $14 trillion in debt, and 
soaring food and gas prices, America does face some challenging 
decisions.
  In my home State of Illinois, the debt per person is over $4,400, and 
the State faces a $15 billion shortfall in next year's budget. These 
indeed are real problems that need to be addressed with commonsense 
solutions.
  One solution is to encourage American companies to reinvest their 
earnings here at home. Currently, companies are holding an estimated 
$1.4 trillion in earnings overseas because the United States Tax Code 
encourages companies to keep their earnings outside of the country. We 
must encourage companies to reinvest their earnings here in America. 
Not only would these earnings stimulate the American economy, but the 
government would collect approximately $50 billion in immediate tax 
revenue. This money would help spur job creation, more growth, and 
investments here at home.
  I would encourage my colleagues to join me in supporting the 
bipartisan H.R. 1834, the Freedom to Invest Act, so that we can 
strengthen our economy with commonsense solutions.

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