American Jobs and Closing Loophole Act

Ms. KILROY. Mr. Speaker, in central Ohio the economy is growing stronger, but we must continue to create an environment that encourages prosperity. The American Jobs and Closing Tax Loopholes Act will do just that; it will close loopholes that give outsourcing a benefit and will provide jobs and tax relief for businesses and working families.

For too long unscrupulous corporations have outsourced American jobs, sending them overseas, sticking American taxpayers with the bill. It's time to close that tax loophole that encourages that behavior and demand accountability.

This bill also will close another tax loophole and make Wall Street fund managers pay a fair tax rate on their income, just like my central Ohio constituents do. It will make the oil companies pay for the gulf oil cleanup, not American taxpayers. And it will rebuild our crumbling infrastructure with Build America bonds. Also giving our students summer jobs, promoting research and development with a research and development tax credit.

H.R. 4223, the American Jobs and Closing Loophole Act, is deserving of our support. I encourage my colleagues to vote for it.

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