Obama: No tax sops for US firms creating jobs in India
Persisting with the theme of protecting American jobs, President Barack Obama said that he would press for tax breaks only for companies that created jobs on U.S. soil and not those that created jobs abroad. He also specifically mentioned “jobs of the future” going to countries such as India and China, and repeatedly underscored his intention to pre-empt that trend.
Addressing a gathering at Cuyahoga Community College in Parma, Ohio, on Wednesday, President Obama said, “For years, our tax code has actually given billions of dollars in tax breaks that encourage companies to create jobs and profits in other countries. I want to change that.”