Subcommittee Examines How to Encourage U.S. Corporations to Invest at Home, Not Abroad

 The Effects of Globalizing Jobs & Technology on the American Economy


(Washington, DC) – As millions of American manufacturing jobs continue to move offshore, evidence is mounting that ever more sophisticated operations, once seen as the potential source of benefits from free trade and globalization, are headed to foreign soil if the rules underlying corporate incentives don’t change.

The focus of a hearing by the House Committee on Science and Technology’s Investigation and Oversight Subcommittee is how to change government incentives so that they encourage companies to keep high-paying manufacturing jobs, as well as research and development jobs in America.

A panel of expert witnesses will suggest innovative incentives such as reducing income tax rates for corporations that retain or create higher-paying jobs in the U.S., making new rules that point corporations in the direction of public purpose rather than exclusively of short-term profits, and examining how the race for short-term gain contributes to off-shoring of American jobs.