What: All Issues : Fair Taxation : Corporate Tax Breaks, General : A procedural vote on a motion to table (kill) a Democratic amendment to S. 1637 (the JOBS Act) that would partially repeal a tax deferral for U.S. multinational companies by requiring those companies to pay federal income taxes on foreign factories when goods are re-imported back into the United States. (2004 senate Roll Call 83)
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A procedural vote on a motion to table (kill) a Democratic amendment to S. 1637 (the JOBS Act) that would partially repeal a tax deferral for U.S. multinational companies by requiring those companies to pay federal income taxes on foreign factories when goods are re-imported back into the United States.
senate Roll Call 83     May 05, 2004
Progressive Position:
Nay
Progressive Result:
Loss

Senate Finance Chairman Charles Grassley (R-Iowa), had the backing of conservatives on his motion to table (kill) a Sen. Byron Dorgan (D-N.D.) amendment that would partially repeal a tax deferral for U.S. multinational companies by requiring those companies to pay federal income taxes on foreign factories when goods are re-imported back into the United States. In other words, Dorgan's proposal would deny tax deferral benefits in cases where U.S. multinationals produce goods abroad and ship those products back to the U.S. market. Grassley's motion was agreed to 60-39, with eight Democrats crossing the aisle to vote with a united Republican party in tabling the Dorgan amendment. Progressives voted against the tabling motion, saying it was fair to tax income of U.S.-controlled foreign corporations' imported property. The amendment also would shut down "the perverse provision in tax law that incentivizes the movement of jobs overseas," Dorgan insisted. Conservatives rebutted the assertion, saying the tax breaks in question help spur the global economy and as such are good for the United States, for U.S. taxpayers and the U.S. job base. To that, Dorgan replied, "Nonsense. Sheer nonsense. It is not good under any set of circumstances for us to say if you have two companies, one that stays in America, and one that leaves our country, both to produce products to sell in our marketplace, that we will advantage the company that left."

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