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  #1 (permalink)  
Old 09-22-2010, 08:12 PM
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Default S.3816 bill Creating American Jobs and Ending Offshoring Act

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
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  #2 (permalink)  
Old 09-22-2010, 08:35 PM
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Default

Oh My God. These three won't stop, would they.
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  #3 (permalink)  
Old 09-22-2010, 08:40 PM
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Default

This is a good bill for people who are already on H1 and EAD ...what's wrong that in bringing the jobs back home ?
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  #4 (permalink)  
Old 09-22-2010, 08:41 PM
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Default is it just the beginning?

For some reason, I feel that this is just the beginning. Hope I am wrong..
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  #5 (permalink)  
Old 09-22-2010, 08:43 PM
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Default

Quote:
Originally Posted by royus77 View Post
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.
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  #6 (permalink)  
Old 09-22-2010, 09:14 PM
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Default

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?
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  #7 (permalink)  
Old 09-22-2010, 09:17 PM
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royus77 is infamous around these parts royus77 is infamous around these parts royus77 is infamous around these parts royus77 is infamous around these parts royus77 is infamous around these parts royus77 is infamous around these parts
Default

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 ....
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  #8 (permalink)  
Old 09-22-2010, 09:20 PM
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Default

Quote:
Originally Posted by spicy_guy View Post
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.
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  #9 (permalink)  
Old 09-22-2010, 10:22 PM
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Default greedy companies but ....

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

Quote:
Originally Posted by royus77 View Post
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 ....
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  #10 (permalink)  
Old 09-22-2010, 10:59 PM
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Default

Pappu
Is there an IV action item defined for defeating this bill? Why has this been posted? Just curios....
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  #11 (permalink)  
Old 09-22-2010, 11:38 PM
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Default It doesn't work

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..

Quote:
Originally Posted by pappu View Post
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
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  #12 (permalink)  
Old 09-23-2010, 07:29 AM
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Default you have a point

Quote:
Originally Posted by deepimpact View Post
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.
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  #13 (permalink)  
Old 09-23-2010, 07:57 AM
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Default

What a foresight…

Quote:
Originally Posted by vbkris77 View Post
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..
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  #14 (permalink)  
Old 09-23-2010, 09:12 AM
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Default

Quote:
Originally Posted by royus77 View Post
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.
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  #15 (permalink)  
Old 09-23-2010, 09:33 AM
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Default CNN article: Senate Democrats' target: Outsourced jobs

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