Bill Aims to Punish Companies Offshoring U.S. Jobs

Bill Aims to Punish Companies Offshoring U.S. Jobs
March 4, 2004
By Sharon Gaudin

Looking to discourage U.S. companies from moving jobs offshore, a Vermont congressman has introduced a bill that would hit companies in the wallet for taking away American jobs.

The Defending American Jobs Act of 2004 would bar companies from receiving federal grants, loans and loan guarantees if they layoff U.S. workers and hire foreign workers in their place. Just announced yesterday, the bill, sponsored by Rep. Bernie Sanders (I-Vt.), already has gained 50 Democratic co-sponsors and three Republicans.

''It is absurd that the government continues to give these companies corporate welfare off the backs of the workers who are losing their jobs,'' says Joel Barkin, a spokesman for Sanders. ''This legislation says that if the Motorolas or GEs of the world want to offshore work to India, china and Mexico, they're not going to continue to get government handouts to do it.'' "