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New York Sen. Charles Schumer has hit the road around his home state pushing new legislation he introduced that aims to attract outsourced jobs back to upstate New York and other struggling regions throughout the nation. And, get this, he's not even seeking reelection this year -- at least for himself.
The Schumer bill offers a package of carrots and sticks to encourage U.S. companies to bring back outsourced work to American soil, including a 20% tax credit for those that return formerly U.S. jobs and the closure of tax loopholes -- such as the deduction that companies can claim for relocation expenses -- for those that send jobs overseas.
A total of 23 companies in central New York alone could benefit from the legislation in addition to many others nationwide.
Observed Schumer to WRVO-FM serving Syracuse, N.Y.: "These are companies that first grew their businesses overseas and now with the changing costs, and everything else, and American productivity, they're looking to bring the jobs back."
A politician actually trying to get something done this year? Shocking. We'll see how far this gets, given that the entire House of Representatives is up for election.
Read all about it: http://bit.ly/MTWJsM.