Rep. Boyle Introduces Bill To Deter Companies From Moving Jobs Overseas
PHILADELPHIA (CBS) -- A congressman representing Northeast Philadelphia is introducing legislation to lift tax incentives for companies who move their operations out of the U.S.
Standing near the former Mondelez/Nabisco snack foods plant being demolished off Byberry Road in the Northeast, Congressman Brendan Boyle says he is introducing the Patriot Employer Tax Credit Act to prevent such corporate actions from happening in the future.
"It would eliminate every one of the loopholes that actually incentivize companies to close their businesses and operations in the United States and ship those jobs overseas," said Boyle.
Mondelez closed the plant in June 2015, laying off more than 300 employees.
Boyle says the jobs - in one way or another - went to Mexico.
He says his proposed bill would give tax credits to those companies who stay in the U.S. and grow their American workforce.
