In his meeting with executives of 14 companies the President Obama want encourage them to create jobs in our country.
NEW YORK (CNNMoney) — President Obama is meeting with executives from 14 companies Wednesday to encourage them to bring jobs back to the United States.
The so-called “Insourcing American Jobs” forum at the White House includes leaders from Ford (F, Fortune 500), DuPont (DD, Fortune 500), Intel (INTC, Fortune 500), Otis Elevators and Rolls Royce, among others.
“I’m calling on those businesses that haven’t brought jobs back to take this opportunity to get the American people back to work,” Obama said in prepared remarks. “That’s how we’ll rebuild an economy where hard work pays off and responsibility is rewarded — and a nation where those values live on.”
The remarks come as the latest Labor Department data point to the manufacturing sector as a bright spot in the recovery, adding 334,000 jobs over the last two years.
Obama wants that trend to continue and, on Wednesday, he pledged to announce new tax proposals in the next few weeks. The White House said the new proposals would reward companies that choose to invest or bring back jobs to the United States, and eliminate tax advantages for companies moving jobs overseas.
Generally speaking, the current U.S. corporate tax rate stands at 35% — the highest in the industrialized world. But companies don’t have to pay that rate on profits made outside of the United States — so many… continue reading
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