American Jobs and Closing Tax Loopholes

Floor Speech

Ms. PINGREE of Maine. Mr. Speaker, I want to talk about H.R. 4213 and the impact it will have on an economy that may be improving but has not gone far enough yet. This important bill will put the folks in Maine back to work by increasing investment in our communities and businesses and by closing tax loopholes.

Because of this bill, small businesses that are the backbone of our economic recovery will have increased access to credit. The Build America's Bonds program will continue to allow towns to invest in improving their infrastructure and provide good-paying construction jobs for many Americans. In my home State of Maine, extending the research and development tax credit helps important businesses like IDEXX in Westbrook to grow and develop innovative new products.

I am proud to say this bill also cracks down on tax loopholes that allow hedge fund managers to avoid paying income tax on much of their salaries, and the bill makes sure that multinational corporations don't avoid paying taxes by shifting their profits to offshore tax havens.

Closing tax loopholes generates billions of dollars to pay for the provisions that create jobs in our communities. I look forward to voting "yes'' on this important bill.

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