US mulls bill to curb tax break on outsourcing

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The premise behind this legislation is that US companies are ‘shipping jobs overseas’ because of various perceived loopholes in the tax code and that a new tax break will encourage them to bring those jobs home. But the facts show that the outsourcing issue may be one of the most over-hyped issues in American politics,” according to Scott A Hodge, president of the US-based Tax Foundation, which describes itself as a non-partisan tax research organisation.