Obama Steps Up Campaign Against Outsourcing in State of the Union Address
Stepping up his campaign against outsourcing, US President Barack Obama announced a series of measures that would offer incentives to those firms which will create jobs in the country, a move that may also affect companies in India.
“If you’re a business that wants to outsource jobs, you shouldn’t get a tax deduction for doing it,” Obama said in his State of the Union Address during which he presented an economic blueprint aiming to take his country away from outsourcing, bad debt and phony financial profits.
Many of his proposals centred on changes to the tax code, including limiting deductions for companies that move jobs overseas, rewarding companies that return jobs to the United States and increasing taxes on wealthy Americans.
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