As Chris noted the other day, the nonpartisan Congressional Budget Office has examined several potential job-creation proposals to see what would do the most. Yesterday, the Center for Budget and Policy Priorities noted that the proposal that comes in last is Senator Hagan’s ill-conceived giveaway to corporations with foreign income.  

Sounds like it might be time for North Carolina’s junior senator to send that one to the circular file.


Watch this seven minute video for an easy-to-undertand explantion (courtesy of Jared Bernstein and Chuck Marr at the Center on Budget and Policy Priorities) of Senator Kay Hagan’s awful proposal to give a “tax holiday” to corporations that have been sheltering profits overseas. The two experts explain that the last time the U.S. tried this it was an “embarrassing” failure.

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You simply can’t read the details of the story (and associated documents and statements) of the failed “Project Soccer” negotiations in which the Perdue administration and Republican legislative leaders attempted to coax (i.e. bribe) Continental Tire to locate a plant in Wilmington without wanting to throw your hands up in disgust.

The only thing that’s worse than the record of the whole sodid process is the absurd blame game that the parties are now playing. Especially high on the unctuousness meter: the holier-than-thou claims of Senate leader Phil Berger (who jetted off to China on a so-called trade mission in the midst of the negotiations) that he was shocked (shocked!) to learn that powerful insiders stood to gain from the deal. Read More


Tomorrow, Senator Kay Hagan will appear with some corporate titans to explain her destructive plan to give giant multi-national corporations yet another tax cut. Wish she were holding it somewhere in which she’d have to look at and speak to the 99%.

This from the Senator’s office:

“October 6, 2011

Washington, D.C. – U.S. Senator Kay R. Hagan (NC) will hold a press conference with North Carolina business leaders TOMORROW at 9:30 a.m. at Quintiles to discuss the Foreign Earnings Reinvestment Act,

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Kay Hagan is introducing a bill today with her new chum, John McCain, to slash taxes on giant, profitable multi-national corporations. As we noted back in July after her speech to a pro-corporate think tank on the matter, this is the last thing our economy or tax system needs.

This is from that article:

“The bottom line on this matter is pretty simple: Read More