To: American Spirit who wrote (856 ) 3/1/2004 12:18:16 AM From: Ann Corrigan Read Replies (1) | Respond to of 1381 Edwards won today's debate. Here are some great ideas from the best candidate: Edwards Unveils New Proposal To Discourage Companies From Moving Jobs Overseas Fact Sheet: John Edwards' Proposal to discourage companies from moving jobs overseas SAN FRANCISCO, CA: Saying the present administration has not done enough to stop the loss of jobs, Senator John Edwards (D-NC) today unveiled a new proposal to stop American jobs from moving overseas. "We've lost nearly 3 million private-sector jobs in the last three years - one million of them overseas," Edwards said. "Because of the way our tax code works, many companies actually got tax breaks for taking these jobs overseas. This won't happen in our America." "It's time we had a president who knows what a lost job means - not just to a family but to the community. We shouldn't have a tax code that rewards companies for taking our jobs overseas. In our America, we'll crack down on tax deductions for companies that move jobs offshore and give tax breaks instead to companies that create jobs here." Edwards believes that our tax code should encourage corporations to export U.S. goods and services, not U.S. jobs. In his campaign, he has outlined a detailed agenda to encourage corporations to create jobs here. Building on that agenda, Edwards said today that we should put an end to companies getting tax deductions when they move jobs overseas. Under current law, corporations can often deduct the costs of moving jobs overseas or hiring offshore contractors to replace U.S. workers. Edwards said today that he will eliminate tax breaks for expenses associated with moving jobs offshore to serve U.S. markets. He will invest the resulting savings in improving the skills and competitiveness of U.S. workers and businesses, including his College for Everyone and Training Works plans and in research and innovation. "We should be exporting American products, not American jobs," Edwards said. "This issue isn't academic for me; it's personal." Today's proposal builds on other measures Edwards has introduced to create and protect American jobs, including: Encouraging an ethic of responsibility in American business. Edwards will require companies to publicly disclose whenever they ship U.S. jobs overseas and will create a new Office for Corporate Responsibility at the Commerce Department to encourage companies to keep jobs here, rather than outsourcing them and finding it results in lower quality and production. He will require federal contracts to be awarded to companies that hire U.S. workers. Overhauling U.S. Trade Policies. Edwards will oppose any trade agreements that fail to include strong and enforceable labor and environmental standards. He will end China's manipulation of the value of its currency, which gives its industries an unfair advantage, and keep quotas on textiles until China plays by the rules. Fixing the Tax Code to Help American Businesses Compete. Edwards will encourage corporations to create jobs here at home by cutting taxes by 10 percent for companies that produce goods and create jobs within the U.S. He will end tax incentives that give deductions and other special tax breaks to companies that build factories overseas. Helping Small Businesses in Hard-Hit Communities. Edwards will bring venture capital, small business loans, and business expertise to create jobs in struggling communities. Aid will be focused on businesses that create good jobs with high wages