U.S. Sen. Dick Durbin (D-Ill.) is reintroducing his tax credit for companies keeping jobs in the U.S. as an amendment to the federal budget. Speaking on the floor of the U.S. Senate, Durbin said to receive the tax credit, companies would have to increase or maintain the number of jobs they have in the U.S. compared to those overseas, provide health and retirement benefits, and pay enough so employees don’t require government assistance.
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“From where I’m sitting, those are patriotic American companies that deserve a break in the tax code as much, if not more, than any other company,” Durbin said.
Durbin offered the nearly same proposal last year as the Patriot Employer Tax Credit Act, but it died in committee.
The Senate Republican-backed budget blueprint, which Durbin considers “insensitive,” is not expected to move as quickly as the House proposal.