Wednesday, September 15, 2010
No tax breaks for companies "shipping jobs overseas": Obama
From The Hindu
At a rare media briefing United States President Barack Obama reiterated his intention to stop giving tax breaks for companies that created jobs overseas rather than on American soil.
Repeating his words from an economy-focused speech in Parma, Ohio, earlier this week, Mr. Obama said, “Instead of tax breaks that encourage corporations to create jobs overseas, we believe in tax breaks for companies that create jobs right here in the U.S. So we have begun to do that.”
Adding that his administration believed only in investments that would make America more competitive in the global economy, he said that such investments would focus on areas such as education, clean energy, research and technology.
Touching upon policy priorities in this regard Mr. Obama said that it was these principles that guided the government over the last 19 months, and were also the very same principles that formed the basis of the additional economic proposals that he offered during the past week.
Mr. Obama is pushing the U.S. Congress to pass a $50 billion infrastructure investment plan to boost employment and also seeks a permanent expansion of tax credits for companies investing in research and development.
In his Friday briefing he emphasised in particular the need to change the incentives faced by companies that deciding to send jobs overseas: “Let us stop giving tax breaks to companies that are shipping jobs overseas, let us stop incentivizing that,” he said.
Labels: outsourcing, President Barack Obama, protectionism, tax breaks
Thursday, March 18, 2010
Restrictive export controls counterproductive: Sharma
From The Hindu
At a recent briefing on the trade agreements signed between India and the United States Industry Minister Anand Sharma and India’s Ambassador to the U.S. Meera Shankar answered questions from the media on a range of related issues.
On India’s perception of overly restrictive export controls in the U.S., particularly with regard to high-technology, dual-use items, Mr. Sharma said, “Yes, there have been some concerns in India on some of the [control], which I have in the past conveyed to Ambassador Ron Kirk. We are clear that protectionism of any kind, or any moves which discourages economic engagement, or weakens it, are counterproductive.” Ms. Shankar added that the Obama administration was in the process of undertaking a high-powered review of the entire legal and regulatory framework for export controls and she expected the outcome to provide some positive momentum.
Reacting to a question on the civilian nuclear agreement Ms. Shankar said, “I can say that discussions putting in place the remaining steps to facilitate full implementation of the nuclear agreement are ongoing, they are making good progress, and we hope that we will be able to finalise all issues soon.”
To a question on India’s role in Afghanistan Mr. Sharma clarified, “We will continue despite the attacks that have been mounted, to deter India. We have reaffirmed very forcefully India’s resolve and commitment to continue to help the people of Afghanistan. We have an excellent relationship and communication with the government in Kabul.
At a recent briefing on the trade agreements signed between India and the United States Industry Minister Anand Sharma and India’s Ambassador to the U.S. Meera Shankar answered questions from the media on a range of related issues.
On India’s perception of overly restrictive export controls in the U.S., particularly with regard to high-technology, dual-use items, Mr. Sharma said, “Yes, there have been some concerns in India on some of the [control], which I have in the past conveyed to Ambassador Ron Kirk. We are clear that protectionism of any kind, or any moves which discourages economic engagement, or weakens it, are counterproductive.” Ms. Shankar added that the Obama administration was in the process of undertaking a high-powered review of the entire legal and regulatory framework for export controls and she expected the outcome to provide some positive momentum.
Reacting to a question on the civilian nuclear agreement Ms. Shankar said, “I can say that discussions putting in place the remaining steps to facilitate full implementation of the nuclear agreement are ongoing, they are making good progress, and we hope that we will be able to finalise all issues soon.”
To a question on India’s role in Afghanistan Mr. Sharma clarified, “We will continue despite the attacks that have been mounted, to deter India. We have reaffirmed very forcefully India’s resolve and commitment to continue to help the people of Afghanistan. We have an excellent relationship and communication with the government in Kabul.
Labels: Anand Sharma, export controls, India, protectionism, United Staes
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