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

The Back Room

Trenton mayor's race: Worthy campaign funds surge according to filed ELEC report

Trenton mayoral candidate Walker M. Worthy, Jr. raised more than $75,000 during the most recent fundraising period, boosting his total campaign contributions to date to close to $110,000, according to a written statement issued by his campaign. 

Read More >

Wake-Up Call

Morning Digest: April 15, 2014

East Side Neighborhood Association hosts packed Paterson Mayor's Forum PATERSON – On the eastern end of Market Street stands a restaurant amid the clinging remnants of industry and a city’s trampled history, where inside under chandeliers in front of a crowd of 100 people, seven candidates for mayor made...

Op-Ed

Ryan's Budget Plan

BY ALBIO SIRES This week, Budget Committee Chairman Paul Ryan (R-WI), released yet again another budget with misplaced priorities that will slow our economic recovery and destroy American jobs.  Rather than address the priorities of the... Read More >

Contributors

(4-16-14) New Jersey Vote By Mail Law - The voter turnout for New Jersey’s November gubernatorial election was the lowest since the days of prohibition, coming... more »
When it comes to profiling Christie, facts are for wussies (4/10/14) - As the national media stories on our Guv pile up, expect more blunders about the Garden State.... more »
This week I begin a series called Dispatches from Somewhere Else. Based on my on-going experiences as an everyman in New Jersey politics, these Dispatches review the hollowness of... more »
Watching Governor Chris Christie's shocking BridgeGate implosion, it's easy to forget the time when he truly seemed unstoppable.  Blessed with incredible political gifts and a Jersey bluster to match,... more »

Quote of the Day

Quote of the day

"A break-in occurred early this morning at the offices owned by Carl Sharif and two others at 660 Stuyvesant Ave. in Irvington, New Jersey. Several items are reported missing, including two laptop computers owned by Carl Sharif. There is also reported damage in the building. The Irvington police were called and a report was filed." - Jeffries campaign spokeswoman Lupe Todd

- PolitickerNJ.com

Poll

Who does Alieta Eck want to win the CD12 Democratic Primary?:

Resources

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