PolitickerNJ Wire Feed

By Gina Wilder | December 6th, 2012 - 5:08pm
| More

Assembly Democrats News Release

Quijano, DeAngelo & Gusciora Bill Urges Congress to Provide Tax Incentives to Bring More Jobs into the U.S.

Resolution Compels Creation of Tax Penalties for Outsourcing U.S. Jobs

(TRENTON) Legislation sponsored by Assembly Democrats Annette Quijano, Wayne P. DeAngelo and Reed Gusciora urging Congress to establish tax incentives for businesses returning and maintaining jobs in the U.S cleared the Assembly Commerce and Economic Development Thursday. To deter outsourcing, the resolution also urges the establishment of tax penalties for companies moving jobs overseas.

Currently, under the United States Tax code, the cost of moving personnel and company operations to a new location is defined as a business expense that qualifies for a tax deduction. The relocation of company operations include jobs that would normally go to U.S. citizens. Tax breaks, are currently not available to businesses that maintain jobs in the United States or bring jobs back into the country.

"With the unemployment rate fluctuating between 8% and 10% in the nation, we cannot afford to reward U.S. based Companies who give away the one thing this country truly needs right now... more jobs," said Quijano (D-Union) "For many of these companies, our citizens are the reason their business is successful. By providing tax incentives in exchange for job creation will help us strengthen our workforce."

"It's only right," said DeAngelo (D-Mercer, Middlesex). "If you do business here, then you are rewarded for it. It is how it should be, especially in this economic climate. If you use the US as a base for your operations because of business perks and access, then it only makes sense to employ our citizens.

"New Jersey has one of the highest unemployment rates in the nation," said Gusciora (D-Hunterdon, Mercer). "A concerted effort must be made from top down to keep businesses here and create more job opportunities. We hope Congress can come together and do what is right for sake of the struggling unemployed in this country."

The Assembly Concurrent Resolution (ACR-162) respectfully urges Congress to take action, by amending the tax code, to provide incentives for companies returning outsourced jobs to the U.S. and to provide penalties for companies that move jobs to locations outside of the United States.

The resolution was released from committee and; now heads to the Assembly Speaker for further consideration.

 

To read more, please visit the New Jersey General Assembly Democratic Office Web site.

On the Net:
The Assembly Democratic Office Web site
NJ Assembly Dems on YouTube
NJ Assembly Dems on Vimeo
NJ Assembly Dems on Facebook
NJ Assembly Dems on Twitter
NJ Assembly Dems e-mail alerts

Contact Info: 

Majority Press Office 609-847-3500

Wake-Up Call

Morning Digest: September 29th

Winners and Losers: Week of September 22nd WINNERS Tom MacArthur In arguably the most competitive contest of the season, the CD3 Republican candidate forced Comcast to take down an inaccurate Democratic Congressional Campaign Committee (DCCC) television advertisement – the second of three forced off the air. "Our attorney was...

Op-Ed

Legislation needed for publicly financed gubernatorial elections

By JEFF BRINDLE It is critical that the Legislature soon enact a pending bill that would ensure the state’s Gubernatorial Public Financing Program is available in the event of a special election for governor.  Not only is there no current legal... Read More >

Contributors

In tribute to John Sheridan, a good and great man     I first learned late last night from television news that John P. Sheridan, Jr. and his wife, Joyce had... more »
(9-24-14) The Founding Fathers and the Militarization of the Police - No matter what the grand jury in Ferguson, Missouri decides, the debate over the militarization of... more »
(Trenton, NJ) --  On September 23, 2015 I shall dig this up and eat whatever crow I've got coming, but in the meantime only a listicle... more »
 The following letter was sent today to Republican state legislators, county chairs, state committee members, and New Hampshire... more »

Quote of the Day

quote of the day

"After not responding to messages all week seeking an interview about the campaign, Garrett’s spokeswoman said on Friday afternoon that she would try to set one up, but did not respond further. Garrett has not released any announcements of where he would be campaigning, though he has posted pictures on social media on Sept. 8 from the Greenwood Lake Air Show in West Milford and on Sept. 14 from the Hackettstown Street Fair. Garrett has not agreed to any debates so far." - columnist Herb Jackson

- The Bergen Record

Poll

Who won that CD3 NJTV debate?:

Blogroll

Visit the PolitickerNJ.com/resources page for links to the best collection of information on New Jersey state government.

 

  • Polls
  • The best blogs
  • Columnists
  • State election results
  • Assembly election results
  • Local party websites
  • And more.

PolitickerNJ.com/resources