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Will end tax breaks for companies outsourcing jobs: Obama

Last Updated: Friday, October 26, 2012 - 00:28

Washington: Spelling out his agenda for a second term if re-elected, US President Barack Obama Thursday pledged to end the tax breaks for companies that are shipping jobs overseas and to halve America's oil imports by 2020.

"I want to end tax breaks for companies that are shipping jobs overseas, give them to companies that are investing and creating jobs right here in the United States of America," Obama said at an election rally in Tampa, Florida, spelling out his agenda for the second term.

"Number two, I want to cut our oil imports in half by 2020 so we control more of our own energy. You know, right here in Florida we are seeing, you know, solar and other new sources of energy. We've doubled clean energy in addition to increasing oil and natural gas production," Obama said, adding that today the US is less dependent on oil from foreign sources than any time in the last two decades.

"We are also increasing fuel standards on cars and trucks so you'll go twice as far on a gallon of gas," he said.

"I want to build on that progress. I don't want fuel-efficient cars and long-lasting batteries and wind turbines and solar panels made in China; I want them made right here in Florida," Obama told a cheering audience.

"Third, I want to make it a national mission to educate our kids and train our workers better than anybody else on Earth. I want to recruit a hundred thousand new math and science teachers. I want to train 2 million workers at community colleges for the skills that businesses are hiring for right now," he said.

"Number four, I want to reduce our deficit by USD 4 trillion, but I want to do it in a balanced way. We'll cut out spending we don't need, but I'm going to ask the wealthiest Americans to pay a little bit more so we can invest in the research and technology and infrastructure that keeps new jobs and businesses coming to America," Obama said.

"I will never, under the guise of reducing the deficit, turn Medicare into a voucher, because Americans shouldn't have to spend their golden years at the mercy of insurance companies," he said.

"Finally, I'll use the savings from ending the wars in Iraq and Afghanistan to put people back to work doing some nation building here at home, rebuilding our roads and our bridges, our broadband lines in the rural areas, fixing our schools up," Obama said, adding that is how he would build a strong, sustainable economy that has good middle-class jobs.

"That's why I'm asking for your vote in this election. That's why I'm asking for your vote. And if I have the privilege of serving as your president for another four years, I promise you will always have a president who hears your voice," Obama said.


First Published: Thursday, October 25, 2012 - 23:52
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