Rep. Camp Says Obama Agenda Will Kill Jobs

January 29, 2010 11:21

Rep. Dave Camp (R-Mich.), top Republican on the House Ways and Means Committee, spoke with HUMAN EVENTS Wednesday night after the President’s State of the Union Address.  We talked of additional the spending and taxes and the delayed micro-freeze put forth in the President’s expanded agenda.

In yet another proposed payoff to his Big Labor allies, Obama seeks to revoke certain tax credits allowed American businesses for foreign taxes already paid on earnings in countries where they have overseas presence and employees.

“What he is suggesting is that American companies are double-taxed while foreign companies are only taxed once,” Camp said. “There are only two countries left in the world that have a territorial taxation system, and the U.S. is one of them.  The other one is Japan.  Other countries now rebate their taxes at the border.”


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