US democrats push for new outsourcing tax

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Members of the United States Democratic Party are set to push for a new outsourcing tax in line with its new platform dubbed “A Better Deal”. The move is aimed directly at the blue-collar workers that helped propel President Donald Trump’s victory. The new outsourcing tax plan is expected to create harsh new punishments for companies that outsource jobs. The Democrats’ proposals include penalizing businesses that move jobs or their headquarters out of the US and a payment of a corporate tax rate of 35 percent on any profits held overseas before relocating. Meanwhile, businesses that bring jobs back to America would receive a tax credit of 20 percent.