Pelosi Touts Legislation To Spur Job Growth, Crack Down On Outsourcing

by Miles Wolf Tamboli-Talk Radio News Service

Speaker of the House Nancy Pelosi (D-Calif.) focused on job creation in her weekly news conference Thursday. In the briefing, Pelosi presented information about a new jobs bill, the name of which seems to explain itself well.

The American Jobs, Closing of Loopholes, and Prevention of Outsourcing Act is "about creating jobs, preventing outsourcing of jobs overseas, [and] closing loopholes of corporations and wealthy individuals from avoiding U.S. taxes," according to Pelosi.

The bill will tax fund managers' income and make it harder for large corporations to evade taxes. It also provides unemployment insurance to those who have lost their jobs "through no fault of their own."

The bill is expected to reach the House floor by Tuesday. Pelosi explained that the goal of putting off the vote is to increase transparency by posting the proposed bill on the internet in time for it to be seen.

"We are very proud of what is in it," said Pelosi.

Pelosi mentioned that the House will again be taking up the COMPETES Act and HIRE Act, which would spur job growth by allocating funding towards research and giving businesses that hire unemployed individuals tax cuts respectively.