Obama continues anti-outsourcing campaign

Politico reports.

“No company should get a tax break for outsourcing jobs. Instead, tax breaks should go to manufacturers who set up shop here at home,” said the president, speaking at a Boeing aircraft assembly plant in Everett, Washington, north of Seattle.

According to The Times of India, Obama has for long campaigned against outsourcing of jobs, something that would hit Indian companies hard.

The aftermath of the economic crisis has seen the current of opinion against outsourcing grow in the US.

In fact, a bipartisan bill has been tabled in the US House of Representatives to make companies that move call centres overseas ineligible for grants or guaranteed loans from the federal government, a move aimed at stemming the tide of jobs heading to nations like India.

The Indian IT sector, which gets 60% of its export revenue from the US, has come out strongly against US moves to stop outsourcing, Financial Express notes.

During his speech, Obama described how the government can support businesses like Boeing, which is hiring thousands of Americans across the country, through steps like removing tax breaks for companies that send jobs overseas and giving them to companies that create jobs at home.