(CNN) – Vice President Joe Biden on Thursday chided Senate Republicans for blocking a vote on a bill that would give tax breaks to companies that bring back jobs to the U.S. from overseas.
"They prevented us from even being able to get a vote on that. So it's dead. It's dead," Biden said in a campaign speech in Ohio.
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The item, which was a top priority in the president's "to-do list" for Congress, also had a provision that would eliminate tax deductions for companies that outsource.
"They maintained a tax cut to take your company abroad and refused to give a tax cut to bring your company home," he said.
Opposing the bill, Republican aides pointed to opposition by business groups like the U.S. Chamber of Commerce and the National Association of Manufacturers, who generally support Republicans.
In a letter to senators this week, the Chamber of Commerce called the bill "misguided" and said it "would hamper American worldwide companies' competitiveness, increase complexity in the Internal Revenue Code, and threaten economic growth."
Biden on Thursday used the blocked bill to fault Republicans, including presumptive GOP nominee Mitt Romney, for being on the wrong side of the issue, and emphasized a need to bring jobs back to the United States.
"We're not betting on anybody else. We're betting on Ohio. We're betting on the United States of America," Biden said. "That's not just political talk. That is a natural fact."
The issue of outsourcing has not only been a hot policy topic of late, but also a major attack line on the campaign trail. Obama's campaign hammered Romney for weeks over reports that his former private equity firm Bain Capital was tied to the practice of outsourcing.
Hitting back, Romney's team this week launched a new offensive accusing the president of outsourcing jobs through his administration's trade policies and loan guarantee program–the latter of which gave federal funds to a green automotive company that held a factory in Finland.
Responding to Biden's attacks on Thursday, Romney's campaign described them as "misleading."
"No misleading campaign speech can hide the truth that President Obama's policies have not helped the struggling middle class. While this administration puts their faith in government, Mitt Romney puts his faith in the American people and their entrepreneurial spirit," said Ryan Williams, a spokesman for the Romney campaign.
– CNN Senior Congressional Producer Ted Barrett contributed to this report.
"Mitt Romney puts his faith in the American people and their entrepreneurial spirit," He calls it fresh blood. If people don't start new businesses how are he and his kind supposed to buy them up and export them. This guy's business was to overpower small companies and either make or break them, Either way he made a profit while standing on the shoulders, or stepping on the throats of real job creators. He's just like W., born on third and thinks he hit a triple. He built his company he says when the fact is he had big bucks behind him. He hammers the President for saying everyone has help building a business which indicates he places no value on the american system of government, infrastructure, education, and defense/ security that make starting a business even possible. Go ahead repubs, nominate him it'll be good to show you the party is not your Daddy's party anymore, unless your name is koch.
Mittens outsourced jobs to china. I call him mr. China.
they must have got the memo.s from there masters, the job shippers of america
How can any of the Republicans in Congress, and especially Mitt Romney, say that President Obama is outsourcing jobs overseas, when in fact, our president has sent several Bills, asking Congress to bring jobs home! That doesn't make any sense .. the Republicans don't make any sense.
Why do Obama and Biden to companies employing people in China or India or sourcing parts from those or other lower income countries? Don't they understand that there are people there who are a subsistence level below almost anyone in the US and that those people need income? Why do they support USAID yet oppose giving people in lower income countries jobs rather than handouts?
Or do the President and Vice-President understand this and all of this rhetoric is dog-whistling to to try to get racist white votes (in referring to outsourcing to India, China or Africa the President and his campaign are not so subtly hinting at outsourcing to brown, "yellow" and black people)?
Republicans have attacked the working people again – blocking a bill to reward companies that "insource" jobs to the U.S. How much proof do we need that they are nothing but political weasels – the lap-dogs for the rich and the enemy of the middle class? They talk about "class warfare" and I agree! Game on! It's time to go to the polls and kick some elitist @$$! Just picture Eric Cantor when you cast your vote. A spoiled, chicken-hawk, sissy-boy with a Rolex.
While I support bringing jobs back home. Didn't Bill Clinton, *cough* the dems, that assisted in opening the flood gates for companies to ship jobs overseas? Maybe the U.S.-China Relations Act of 2000 wasn't really important though.
Once again just like McConnel said: they rather to see American go under the bus than let Obama get reelected.
That's what Republican and Romney believe! Sacrificing the whole American for their goal!
Nobody has outsourced more than the Obama administration "green jobs" rewards to cronies programs. Obama's chairman of the "jobs committee" closed down whole divisions and moved them to China. That might be called outsourcing also.
Fact: White House Czar, GE CEO Jeffrey Immelt, the head of Barack Obama’s highly touted “Jobs Council”, is moving even more GE infrastructure to China. If I am not mistaken Obama has not met with his Jobs Council for the pass six months. Ask any manufacturer why they move to other countries unions is the response. Our labor is no longer cheap and taxes are chocking the manufacturers.
The terrorist taliban group does it again.
Fact: White House Czar, GE CEO Jeffrey Immelt, the head of Barack Obama’s highly touted “Jobs Council”, is moving even more GE infrastructure to China. If I am not mistaken, Obama has not met with his Jobs Council for the pass six months. Ask any manufacturer why they are moving to other countries the answer is unions. Labor is no longer cheap and taxes are strangling the manufacturers. No doubt unions were great to this country but when you have to hold a job because you need to be a union member and pay dues that you have no say so what union does with the money. Unions have a cash cow that by federal law does not have to tell you were the money goes. Everyone knows that Union leaders do well. Case in point Wisconsin prove that folks are getting tired of unions telling them how to vote and how much dues you need to give if you want to keep your job. By the way, in communist countries you must belong to the communist party to be successful. Case in point China has a lot of millionaires.
Middle class is defined as making at least $250,000 a year. So tell me....... How is it that you middle classed folks are suffering? What? You couldn't go on a cruise trip? Oh my such burdens.
I think you should be looking at your Boss first and find out where the 29 billion dollars of our tax dollars went starting with GM 70% of their business is in China now our tax dollars at work and yes they have their own factories there too. that we paid for.
Joe you need to let the big boys fight this out you don't have a clue of what you are talking about again.
Obama is the King of outsourcing with our tax dollars.
Hmmm, don't want to bring jobs back from overseas........MAKE THEM UNEMPLOYED! Send the arrogant idiots home in this election!
At lest Vice President Joe Biden son Bo , volunteered for the military.
Unlike Romney's five sons !
More insanity from Biden. Trying the same thing over and over hoping for the desired result.
Then there is the remake of the old game "Simon Says"; it's now called "Obama Says". Obama's punishments or punitive actions are much more severe though.
U have 2 b kidding me yeah its a badd idea 2 bring jobs 2 america wat r they drinkin sober up and hear urself GOP cherity starts at home "AMERICA"
Outsourcing is the end result that everyone criticizes and rightfully so. One must take effort to understand the reasons leading up to it. Unionization leading to higher costs of doing business, corporate greed, government levies and controls, the list goes on. Again the reasons vary from industry to industry. Politicians are reducing themselves to just blaming the other side.
True improvements will happen only when we do something about the contributing reasons. Today is US a hot destination for a global investor ( please discount real estate investment). Can the leaders or those who claim to be the leaders make US a preferred destination for business investment? That is the change we need. Till that time it is just politics.
Once again, Robmoney does not understand the middle class. The vast majority of people do not have the means to be an entrepreneur. Fact is that more small businesses fail than succeed and most people who are trying to get by and feed their families have neither the time or the capital to take such a risk. We can't be a country of all bosses. To suggest such a thing is ridiculous. WE NEED JOBS, NOT SNIDE BLAME FROM THE GOP THAT IF YOUR JOB IS OUTSOURCED YOU MUST HAVE DESERVED TO BE FIRED.
The only ones misleading the American workers is the do nothing GOP party and their outsourcing presidential wanna be. As an outsourced worker, I will be putting my faith and my vote toward Obama and Democrats for Congress who will represent me and not just big corporations. GO AWAY Mr. Off-shore accounts who has no qualms about destroying the American dream for workers. BUH-bye.
How disgusting is it that the government i.e. The American people have to give tax breaks to American businesses so that they will employ people in our own country. It really shows what kind of patriotic, entrepreneurial, Christian values our business leaders with all of their GOP lobbyist have. Go ahead repugs – elect another business leader so he can continue on the path of destroying this nation and the pull the cord on his golden parachute and move his money off-shore to avoid paying taxes. If that is the best American dream you I wanna be rich toos can come up with. then enjoy the consequences of electing Robmoney.
I see yet again we see a Grover Norquist pledge ruling Republicans so that an increase in tax on outsourcers overrides a tax deduction for returning jobs to the US.
We have laws about CSR (corporate social responsibility) and just look how many companies have had to change policy or been fined for not ensuring policies they wrote, Just like the banks so called compliance departments. Self regulation fails all the time. HSBC, JP Morgan Barclays etc etc.
The USA and Republicans especially but also Democrats have to face facts e.g India destroyed the UK cotton industry and clothing industry. In the US it was the casual shoe industry, toy industry, the undermining of the Auto industry and many others due to cheap labor overseas and quality catch up, also consider TV and durable electrical goods products. All that happened because of rising costs of health care, banking profits greed not only CDS but also almost usurious credit card debt rates, and for along time defending the indefensible strong $.. go figure why, kept oil and gas prices low.
And finally recognising the fact that American corporates do not actually pay the Nominal 35 % corporate tax rate, but something much lower which is the effective corporate tax rate and which is amongst the lowest in the western world. Many independent surveys prove this.
Every corporate financial report will loudly publicise its effective corporate tax rate because its always less than 35 %. Those loopholes and exceptions need repealing now, and lower the rate to 30 % trust me it raises income from corporate taxes without damaging employment but lowers budget deficits and debt over the longer term, and equals a huge simplification of the tax code.
Biden shouldnt be in public my 8 year old is smarter than he is. Me and my family are worse now than we were under bush.
I hope Bidim somday realizes that the reason the bill died is because it would spend, spend, spend and tax, tax, tax, the rich. In his playbook, this will fix everything. Big deficits? Tax the rich. Need more money? Tax the rich. Flat tire? Tax the rich! Lord knows why this magical combonation of taxing and spending recklessly works, but in Obamaland, where the rich are snivelling, greedy misers who would gladly walk over their mother for two bucks, everything magiclly works out. Companies want to stay in a high-tax enviroment that kills buissnes just because Obama is that charasmatic. If only this was reality...