S.3816 bill Creating American Jobs and Ending Offshoring Act

[pappu]

Title: Creating American Jobs and Ending Offshoring Act
Sponsor: Sen Durbin, Richard [IL] (introduced 9/21/2010)

Cosponsors Sen Dorgan, Byron L. [ND] -
Sen Reid, Harry [NV] -
Sen Schumer, Charles E. [NY] -
Introduced in the Senate.

This bill will give companies a two-year holiday from their share of Social Security payroll withholding taxes for each employee they hire to replace a worker at a foreign-based facility. The Creating American Jobs and Ending Offshoring Act would bar companies from taking tax credits or deductions for the cost of closing a U.S.-based facility to move the operation overseas.Companies could still take deductions for severance and job placement services for employees who lose their jobs as a result of a U.S. plant closing. Under the legislation, companies that close a U.S.-based business and expand it overseas would no longer be allowed to defer U.S. income taxes on foreign subsidiaries.

Reid has the option to set up a procedural vote next week

[smuggymba]

Oh My God. These three won't stop, would they.

[royus77]

This is a good bill for people who are already on H1 and EAD ...what's wrong that in bringing the jobs back home ?

[eb3retro]

For some reason, I feel that this is just the beginning. Hope I am wrong..

[smuggymba]

Originally Posted by royus77

This is a good bill for people who are already on H1 and EAD ...what's wrong that in bringing the jobs back home ?

Don't worry my friend...H1s, L1s, EAD.....they will go after everyone one by one.

[spicy_guy]

Next thing....H1 program only once in 3 years or only when "needed".....
Cut the number of GCs by half...So that people will go back to their origin when their H1 expires.....
Attach huge price tag to GC... and...

Well, the message is clear...Isn't it?

[royus77]

As long as greedy corporations like microsoft exist noting will happen to H1B program..its the economy that's it ..once it start moving up h1b will become l1b and the import of cheap labor starts once again .....you guys are just spreading fear nothing else ....

[deepimpact]

Originally Posted by spicy_guy

Next thing....H1 program only once in 3 years or only when "needed".....
Cut the number of GCs by half...So that people will go back to their origin when their H1 expires.....
Attach huge price tag to GC... and...

Well, the message is clear...Isn't it?

Well instead of going back after H1 expires, the people can chose to be illegals. Then their Kids will get GC under the DREAM ACT.

[h1techSlave]

Companies like Microsoft are indeed greedy. But Microsoft shareholders like me and many others in this forum are saints.

Originally Posted by royus77

As long as greedy corporations like microsoft exist noting will happen to H1B program..its the economy that's it ..once it start moving up h1b will become l1b and the import of cheap labor starts once again .....you guys are just spreading fear nothing else ....

[gc_peshwa]

Pappu
Is there an IV action item defined for defeating this bill? Why has this been posted? Just curios....

[vbkris77]

Corporations save more than 10K.. It doesn't work..

Average cost of employment in US for high tech is around 90$ per hour and social security
percentage is 6%, So the max is less than 10K per year or less than 0.5 USD per hour.

These companies actually pay far less than 90$ for offshore resources..

Since it really doesn't work, it has high chances of passage into bill and president will promptly sign it before this session recesses..

It will also be passed in an unanimous consent by both parties..

Originally Posted by pappu

Title: Creating American Jobs and Ending Offshoring Act
Sponsor: Sen Durbin, Richard [IL] (introduced 9/21/2010)

Cosponsors Sen Dorgan, Byron L. [ND] -
Sen Reid, Harry [NV] -
Sen Schumer, Charles E. [NY] -
Introduced in the Senate.

This bill will give companies a two-year holiday from their share of Social Security payroll withholding taxes for each employee they hire to replace a worker at a foreign-based facility. The Creating American Jobs and Ending Offshoring Act would bar companies from taking tax credits or deductions for the cost of closing a U.S.-based facility to move the operation overseas.Companies could still take deductions for severance and job placement services for employees who lose their jobs as a result of a U.S. plant closing. Under the legislation, companies that close a U.S.-based business and expand it overseas would no longer be allowed to defer U.S. income taxes on foreign subsidiaries.

Reid has the option to set up a procedural vote next week

[satyasaich]

Originally Posted by deepimpact

Well instead of going back after H1 expires, the people can chose to be illegals. Then their Kids will get GC under the DREAM ACT.

though hilariously said, you have a point indeed.

[Edison99]

What a foresight…

Originally Posted by vbkris77

Corporations save more than 10K.. It doesn't work..

Average cost of employment in US for high tech is around 90$ per hour and social security
percentage is 6%, So the max is less than 10K per year or less than 0.5 USD per hour.

These companies actually pay far less than 90$ for offshore resources..

Since it really doesn't work, it has high chances of passage into bill and president will promptly sign it before this session recesses..

It will also be passed in an unanimous consent by both parties..

[kumar1305]

Originally Posted by royus77

As long as greedy corporations like microsoft exist noting will happen to H1B program..its the economy that's it ..once it start moving up h1b will become l1b and the import of cheap labor starts once again .....you guys are just spreading fear nothing else ....

It’s not India or China who asked for globalization. It was America who wants to sell their products throughout the world.

No matter how many bills these Senators may make they are not going to stop outsourcing.

America didn’t develop because of protectionist policies, it grow because it was a free market.

[Rajeev]

New jobs pitch targets companies that move jobs offshore - Sep. 22, 2010