DETROIT (WJBK) - With President Trump placing high priority on creating jobs here in the U.S., Senator Debbie Stabenow has reintroduced her Bring Jobs Home Act. The initiative has been revived three years after Senate Republicans voted it down.
This act will give incentives to companies to come back or move to the United States by giving tax breaks. On the other side, the act would also disincentivize companies to move outside of the U.S.
Bottom line - Sen. Stabenow says if you're leaving this country with our jobs, the U.S. and taxpayers should not be paying for that.
Sen. Stabenow has brought this idea up repeatedly, and she's hoping now that our president's focus is on bringing back jobs to the U.S., her act won't be voted down again.
"We have a new president saying he wants to bring jobs homes and I reached out to him and his cabinet and said, why don't we start with the basic tax loophole. This is very simple," she says. "If you want to move away from the United States, you are on your own; we're not paying for it. If you want to come back, we will be gladly, not only let you write off the cost of coming back, but give you a 20 percent tax credit to support the cost of coming back to the United States."
It is up to the Senate and the Republicans to see if they want to take it up on the floor.