Do Not Pass Go
Do Not Collect $200
Go Straight to Nancy Pelosi's web page and TELL HER to bring H.R. 5622 to the floor for an Up or Down Votehttp://www.speaker.gov/contactBishop Introduces Bill To Fight Outsourcing And Tax EvasionWashington D.C. - Congressman Tim Bishop introduced legislation to crack down on overseas tax havens, promote American job creation, and reduce the federal deficit.
The Stop Outsourcing and Create American Jobs Act of 2010 (H.R. 5622) deters corporations from using tax havens to hide assets and create jobs overseas by increasing civil and criminal penalties for illegal transactions involving a tax haven country, such as fraud, false claims, and tax evasion.
"Rewarding good corporate citizens who create American jobs will ensure the economic recovery reaches Main Street," said Congressman Bishop. "The bill also bolsters federal revenues by targeting tax evaders and countries that help them cheat."
All revenues generated by H.R. 5622 will be applied to reducing the federal deficit.
According to the non-partisan Government Accountability Office (GAO) in a study conducted in late 2008, an estimated 83 out of the 100 biggest public corporations have subsidiaries in tax haven countries or similar jurisdictions. Often, these subsidiaries are created by corporations to take advantage of foreign tax structures and replace American jobs with cheap labor.
"We should be rewarding companies that invest in America and discouraging companies that contract with the government from shipping jobs overseas," Bishop said. "This legislation will help put Long Islanders back to work and reduce the deficit." http://www.hamptons.com/News/For-The-Record/11293/Bishop-Introduces-Bill-To-Fight-Outsourcing-And.html Here I'll even give you the subject text
Write Madam Speaker NOWDear Madam Speaker
The Country is depending on you. We need Jobs, we need the bill put forth by Congressman Tim Bishop, H.R. 5622 to restore those jobs IN AMERICA.
Please Madam Speaker, bring H.R. 5622 to the floor for a vote. Stop dishonest Corporations from exploiting existing loop hole in the tax code that create tax incentive to outsource American Jobs. Jobs that feed families, jobs that provide much needed Health Insurance, jobs that provide the much needed tax revenue to keep America running.
Sincerely