Nomination Of Pamela Harris To Be United States Circuit Judge For The
Madam President, I wish to compliment the distinguished Senator from Nevada for his very cogent remarks. They are true, and I appreciate his leadership on this matter. Bring Jobs Home Act Madam President, the Senate is currently debating…
Madam President, I wish to compliment the distinguished Senator from Nevada for his very cogent remarks. They are true, and I appreciate his leadership on this matter.
Bring Jobs Home Act
Madam President, the Senate is currently debating the so-called Bring Jobs Home Act--a bill supposedly aimed at preserving and creating jobs in the United States. However, as I noted here on the floor yesterday, the Bring Jobs Home Act is little more than political posturing and election-year messaging. It really does get old. We have gone through that over and over while we do not do what we ought to do for this country.
The Senate Democrats want to portray the Republicans as the party of outsourcing, which is a joke. So they have crafted a bill that will do nothing to actually address the problem of outsourcing but will provide them with a few days' worth of talking points on the subject. We went through precisely this same exercise in 2012. We voted on the exact same bill during the last election cycle. It was meaningless then, and it is meaningless now.
As I said, I went over this yesterday. I talked at some length about the shortcomings of this bill, and I do not want to rehash all of that again today. Instead, I would like to take a few minutes to talk about some things we could be doing to create and protect American jobs. I have filed some amendments to this bill that I think would actually do something along those lines. If we get a chance to offer amendments to this bill--which is, of course, doubtful under the way the Senate is currently being run--I think these are the types of amendments we should consider.
One of my amendments is a four-part tax amendment that would help businesses create jobs in the United States. If enacted, it would provide additional cash flow for businesses that would allow them to hire workers, increase wages, and invest in plant and equipment in the United States, among other things. It would do so by making four separate temporary tax provisions permanent.
The first of these provisions relates to section 179, small business expensing. My amendment would permanently increase the amount of equipment, certain real property, and software a business can deduct in a year to $500,000 and index that amount to inflation. That makes sense.
The second provision would make bonus depreciation permanent, allowing businesses to permanently deduct 50 percent of the cost of qualified property in the first year that property is placed in service.
My amendment would also make the research and development tax credit permanent, increasing the alternative simplified credit to 20 percent and eliminating the traditional research and development credit test.
Finally, the amendment would permanently provide for a full exclusion of capital gains income derived from the sale of stock of certain small subchapter C corporations held on a long-term basis.
All of these would be tremendous amendments and would really create jobs. They ought to be allowed on this
bill. Together, these four provisions would provide much needed certainty for job-creating businesses and allow companies to more effectively plan for the future.
If we are going to amend the Tax Code in the name of creating jobs, this is a far better approach, as it removes uncertainty and simplifies elements of the code. The Bring Jobs Home Act would actually do the opposite.
I have also filed two health-related amendments to this bill.
The first of these amendments would repeal the medical device tax that was included as part of the so-called Affordable Care Act. ObamaCare's $24 billion tax on lifesaving and life-improving medical devices is reducing U.S. employment.
A recent study by industry group AdvaMed estimated that the tax has cost as many as 165,000 jobs. That is 165,000 American jobs eliminated by this misguided tax. Ten percent of respondents to that survey have relocated manufacturing outside of the country or expanded manufacturing abroad rather than in the United States.
This would help solve the inversion problem, but our colleagues on the other side will not do anything about it. Yet they are trying to blame the Republicans for the inversion? Give me a break.
The tax is also curbing American innovation. Thirty percent of AdvaMed survey respondents have reduced their investments in research and development--30 percent.
If we really want to keep companies from moving American jobs offshore, this is a far better approach. It is far more substantial, and, as the survey data shows, it will have an immediate, real-world impact on jobs in the United States.
It is bipartisan. Republicans and Democrats support repeal of the medical device tax. Last year 79 Senators on this floor--including 34 Democrats--voted to repeal the tax. It really is a no-brainer. I hope we can finally get a vote on it. But sooner or later, we are going to get a vote on it, and it is going to be on a bill that will pass both Houses.
My other health care amendment would repeal ObamaCare's job-killing employer mandate. As we all know, the so-called Affordable Care Act requires employers with 50 or more employees to provide health coverage to their workers or pay a $2,000 tax per employee. This deters business growth as it discourages small businesses from hiring more than 50 employees and has led many employers to cut workers' hours to keep from going over the mandate's threshold. How stupid can we be? Even the administration has acknowledged that the employer mandate is harmful. They have already delayed it several times in hopes of delaying its harmful impact during an election year. Isn't that nice?
If we really want to keep people in their jobs and encourage businesses to hire more American workers, repealing the employer mandate would go a long way.
My last amendment would advance U.S. trade policy by renewing trade promotion authority. Specifically, the amendment contains the text of the Bipartisan Congressional Trade Priorities Act of 2014, a bill I introduced in January along with Chairman Camp of the House Ways and Means Committee and former chairman of the Finance Committee, Senator Max Baucus of Montana.
This bill establishes 21st-century congressional negotiating objectives and rules for the administration to follow when engaged in trade talks, including strict requirements for congressional consultations and access to information. If the administration follows these rules, the bill provides special procedures to more quickly move a negotiated deal through Congress.
Renewing TPA, which expired in 2007, is necessary to successfully conclude ongoing trade negotiations, such as the Trans-Pacific Partnership, the TPP, negotiations as well as free-trade agreement talks with the European Union, often referred as T-TIP, involving 28 nations, including ours. These are two landmark trade deals with the potential to greatly boost U.S. exports and create jobs here.
The TPP countries--which represent many of the fastest growing economies in the world--accounted for 40 percent of total U.S. goods exports in 2012. Think of the jobs that would be created.
Another, the EU, the European Union, purchased close to $460 billion--with a ``b''--in U.S. goods and services that same year, supporting 2.4 million American jobs.
In addition, the United States is negotiating the Trade in Services Agreement, or TISA, with 50 countries, covering about 50 percent of global GDP and over 70 percent of global services trade. This agreement would create many opportunities for U.S. jobs in this critical sector.
It is vital that we get these trade agreements over the finish line, and the only way we are going to be able to do that is to renew trade promotion authority. My amendment provides a reasonable, bipartisan path forward on renewing TPA and would do far more to create jobs and grow our economy than the legislation before us today, which is minuscule in effort. As with other amendments, I hope we can vote on this TPA amendment.
Of course, I am not the only Senator who has offered reasonable job- creating amendments to the Bring Jobs Home Act. Numerous amendments have already been offered, and I am sure more are on the way--or should I say filed because we have been prohibited from really offering amendments on these bills and really having a robust debate for a long time now because of the actions of the current leadership of the Senate. The Senate is hardly operating as the Senate always has in the past; that is, in an effective, let's-be-positive way.
Sadly, if the recent past is any indication, there will not be any votes on amendments to this bill. The Bring Jobs Home Act is not designed to create jobs. It is not even designed to pass the Senate. Once again, the entire purpose of this bill is to give Democrats some political talking points as the August recess approaches. Having an open and fair debate on amendments would distract from this partisan goal. We understand that everything is partisan around here. Everything is political right now. But my gosh, when are we going to start acting as the Senate?
That being the case, it is doubtful that any amendments are going to be considered on this legislation, which is, of course, a crying shame. The stated purpose of this bill is to create and protect American jobs. The Republicans have amendments that would do just that and more. I mentioned a few such amendments that would have a far greater impact on American workers and businesses than the bill before us today--most of which are bipartisan amendments.
That is what is amazing to me. This is just a game that is being played. It is really an irritating game to me. If we are serious about the idea of creating jobs in the United States, let's have a real debate about it. Let's discuss some alternative approaches. I know my friends on the other side will have great ideas on some of these, if they would be allowed to act like legislators for a change.
Let's talk about the real problems that are hampering job growth. Let's set votes on some of the ideas we have proposed. I hope we can do that this time around. But of course I am not under any illusions that the Democratic leadership here in the Senate is about to change course and let this body function the way it is supposed to. They are not about to let the Senate be the Senate. They are not about to let both sides have a full-fledged opportunity to improve these bills. They are not about to allow full and fair debate on both sides.
To me, it is mind-boggling in the case of this bill. I hope I am wrong. I hope we can get amendments up that would make this bill a real bill about jobs, instead of just politics. But, sadly, I do not think I am wrong. My experience has been that politics is triumphant around here and getting the people's work done is secondary.
I suggest the absence of a quorum.
The PRESIDING OFFICER (Ms. Warren.) The clerk will call the roll.