Rules of the Houseby Representative Rosa L. DeLauro
Posted on 2015-01-06
DeLAURO. Mr. Speaker, I rise in opposition to the Republican rule
package and to the previous question. If we defeat that question, Ms.
Slaughter will offer an amendment to end corporate desertion.
Over the last decade, we have seen nearly 50 American companies try to avoid taxes by moving their mailboxes overseas, but they leave their operations here, effectively renouncing their U.S. citizenship in order to dodge taxes.
These companies benefit from American education, research and development incentives, and infrastructure, all taxpayer supported, but when their own tax bill arrives, they hide overseas and are no longer American corporations.
They even have the temerity--and this is legal under the law today, and it shouldn't be--they have the temerity then to apply for Federal contracts, but they deny their U.S. citizenship when it comes to paying their taxes.
Mr. Speaker, what this amendment would do is make sure that they pay their fair share. The extra revenue goes to the highway trust fund. That trust fund runs out of money in May if we do not act. Anyone who has driven a car lately knows how badly our roads need investment.
Our highways are crumbling beneath our wheels, 65 percent of our major roads are in less than good condition, and one-quarter of our bridges require repair or improvements. The backlog of projects grows longer by the day.
At a time when globalization is gathering pace, this state of affairs puts America's competitiveness in jeopardy.
[[Page H19]] According to the World Economic Forum, the United States has slipped from 7th to 18th in the quality of our roadways. Replenishing the highway trust fund will reverse this trend, unleash economic growth, and create thousands of good jobs that cannot be sent overseas.
If we want business to invest in this Nation, we must be prepared to do the same. Instead of lining the pockets of corporate deserters, we should be revitalizing our roadways. That is the path to a better, stronger, and more sustainable economy. This amendment puts us back on the right track.