The Countdown #28

The Administration and Offshoring

When companies conduct business overseas to avoid fees and taxes in a country, it is called ‘offshoring.’ The Trump Administration, through the Tax Cut and Jobs Act, has encouraged offshoring. Between 2016 and 2018 the United States lost 1,800 factories and since February 2020 alone we have lost 740,000 manufacturing jobs.

Trump’s economic policies, just like many of his personal business ventures, are failing. But he will not take that hit himself, he will pass it on to workers. Offshoring by federal contractors has more than doubled and the economic policy of this administration overall has cost the United States over 4 million jobs.

Joe Biden and Kamala Harris have a plan to bring manufacturing jobs back to the United States. They have a solid three-point plan to help the American economy rebound from offshoring. They will enact a penalty to any company engaging in offshoring, eliminate tax loopholes that encourage offshoring, and provide a tax credit for all companies making their products in the United States of America.

 A vote for Joe Biden is a vote to bring jobs back to our country.

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