On this Independence Day, it is time to bring jobs home. Too many jobs have left the United States and North Carolina in the last few decades as a result of our growing trade deficit and policies that support the outsourcing of jobs. In combination with the effect of the Great Recession, the result is a growing job deficit that puts a strain on families, communities and the long-term growth of our economy.
Currently, U.S. companies can take a tax deduction for their moving expenses every time they outsource jobs, a policy that is grossly un-American. The Bring Jobs Home Act would give companies a tax incentive for moving jobs back to America and eliminates the tax deduction for moving expenses.
Greater focus on North Carolina’s job deficit is needed and fixing the federal tax code can help do that. Such a step is critical for the state to rebuild and workers to produce goods and provide services here.