[Congressional Record Volume 164, Number 6 (Wednesday, January 10, 2018)]
[House]
[Page H129]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        OFFSHORING GOP TAX SCAM

  (Ms. KAPTUR asked and was given permission to address the House for 1 
minute.)
  Ms. KAPTUR. Mr. Speaker, I rise to highlight another scam in the GOP 
tax giveaway just signed into law. President Trump promised in 
November: ``Factories will be pouring back into this county.''
  Really?
  The Republican tax scam taxes earnings of foreign subsidiaries of 
U.S. firms at half the rate of what is earned here in the United States 
by those same companies. If that isn't an invitation for more job 
outsourcing, I don't know what is.
  The corporate tax rate, which Republicans slashed at the expense of 
the middle class, Social Security, and Medicare, is now at 21 percent; 
but the rate at which American companies' overseas subsidiaries will be 
taxed is half that much, 10.5 percent.
  Why does the Republican tax bill incentivize U.S. companies to move 
profits and capital overseas?
  Call President Trump, let him know, because that is what he just did.
  The Republican bill does nothing to address the job outsourcing 
crisis. It makes it worse.
  Isn't this economic madness?

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