From Baker:

"The policies of our economy over the last eight years have rewarded corporate greed and too many times have put wealth over work. The final grade is out and these policies failed," Baker said. "In Congress, my goal will be to invest in businesses that will bring back one million jobs to America. This is only a first step, but it is the beginning of rewarding companies that do the right thing and holding companies accountable that take our tax dollars and do not invest in the American worker."

1. Crack Down on Transfer Pricing Schemes: According to data commissioned by the Internal Revenue Services, U.S. conglomerates are costing the America taxpayer between $10-55 billion per year through these tax abuses. Transfer pricing occurs when companies artificially inflate the price of products sold between "sister" companies before importing. In turn, companies sell the products on the U.S. market for a "loss" and write off the loss on their corporate taxes.

2. End the "moving costs" tax write off: When a company decides to shut down manufacturing facilities in the U.S. costing American jobs, Washington allows them to write off the expenses associated with moving the facility. Baker would end this loophole in the tax code to discourage the relocation of jobs to foreign locales.

3. American Research should equal American jobs: Baker’s plan would end the research and development tax credits to companies that do not retain at least 50 percent of their "complementary assets," i.e. manufacturing, within the U.S. If we are subsidizing the research and development of a product, but not making it in American, we are not receiving the full value of the tax credits we hand out. America can no longer be the research lab for the world, while the jobs attributed to the research goes overseas.

4. Cut the Red Tape for American Innovation: In return for a corporation’s commitment to American jobs, Baker’s plan would make research and development tax credits a permanent part of the U.S. tax code instead of yearly renewals by Congress. This will bring a more streamlined approach and cut back on the paperwork required of businesses taking part in American innovation.

5. The Made in America Tax Credit: The United States must invest in companies creating jobs here. Whether the jobs are manufacturing the new green products of tomorrow or creating important intellectual property, tax credits should be tied to good jobs. If you are a U.S. company that creates non-seasonal manufacturing jobs that pay a living wage so Americans can be self sufficient, you should receive the tax benefit. Baker’s Made in America tax credit would invest in companies that create these jobs with a $1,500 tax credit per employee.

MizzouGold11

MizzouGold11

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