Source:
Economic Times of India10 Sep, 2010, 04.26AM IST, Pankaj Mishra,ET Bureau
BANGALORE: US President Barack Obama on Thursday once again targeted outsourcing of jobs overseas by American companies, increasing the pressure on local firms in an attempt to secure some benefit ahead of the crucial November elections in his country.
Obama, speaking at a rally in Parma, Ohio, the state which banned outsourcing of work overseas by government departments, said he remained firm on ending tax breaks for American firms that sent jobs abroad.
“One of the keys to job creation is to encourage companies to invest more in the United States. But for years, our tax code has actually given billions of dollars in tax breaks that encourage companies to create jobs and profits in other countries,” Obama said, flanked by Ohio governor Ted Strickland, who is trailing in the polls and is fighting to retain his governorship.
Obama’s party, the Democrats, faces a hugely disillusioned and angry electorate on November 2, and is widely expected to lose control of the House of Representatives. The US president has spent the last few days trying to rally his base with promises to protect jobs and spur economic growth.
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