3/03/04: More than 50 members of the House of Representatives are about to introduce the Defending American Jobs Act, intended to deny US companies federal financing and loan guarantees if they shift US jobs overseas. In addition to coming off as an election-year stunt, this type of legislation sends the wrong message to US corporations and our trading partners alike. Clearly, the impact of job outsourcing should not be underestimated. Jobs will undoubtedly go overseas, but in time we foresee a new era of domestic hiring. Simply to punish companies that need to survive is wrong. If these legislators are really interested in helping the American worker, they should come up with legislation that actually helps US companies by offering incentives by hiring domestically. Now that would be a constructive solution.
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