Rep. Lee Terry (R-Ne) Doubles Down in Support of Tax Loopholes for Companies That Send Jobs Overseas

[Omaha Steve]

http://tomwhite2010.com/newsroom/rep-lee-terry-doubles-down-support-tax-loopholes-companies-send-jobs-overseas

Omaha, NE – A day after voting against closing tax loopholes for multinational corporations that send American jobs overseas, Rep. Lee Terry took to Facebook to double down in his support of sweetheart deals for outsourcers. Terry said of the bill, which will prevent teacher layoffs, property tax increases, and cuts to schools in Nebraska and reduces the deficit:

My opponet (sic) critisizes (sic) me for voting "NO" to raising taxes on business, $26 billion in new spending and adding as much as $12.6 billion to the national debt. I believe the best way to create jobs is to NOT raise taxes, cut spending and reduce the national debt. There is a big difference between Mr. White and me. <http://www.facebook.com/LeeTerry2010, accessed 8/12/10>

“Unless a company is planning on shutting down their factory in America and shipping the jobs overseas, they’re not going to pay a dime more in taxes – and Congressman Terry knows it,” said Tom White. “After voting for the Wall Street bail-out, for budgets that nearly doubled the national debt, and for policies that have added trillions to the deficit, Congressman Terry has no credibility when it comes to the debt."

According to the nonpartisan Congressional Budget Office, the bill actually reduces the deficit. It is completely paid for by spending cuts and closing tax loopholes that encourage corporations to ship American jobs overseas.

FULL story, video, and more at link.