Although I am not on the Agriculture Committee, I have been following the debate on the Farm Bill for sometime now and I was looking forward to voting for the bill that unanimously passed out of the Committee last week. Unfortunately, in only a week’s time, the Democrat Leadership added a massive tax increase on companies which in-source jobs into America. These foreign-owned companies, such as DaimlerChrysler in Perrysburg, Ohio, which employs nearly 3,000 people, are vital to our economy. They should be applauded, not penalized.
The tax increase added by Democrats, as much as a 30 percent tax increase on some American businesses owned by foreign companies, could lead to companies closing and moving production outside of America. Because of the tax increase, the Farm Bill puts 5.1 million American jobs at risk. These tax increases, added out of public sight from the media or the rest of Congress, will hurt families all across America.
I hope the U.S. Senate will consider the original bill passed out of the House Agriculture Committee without the tax increases added after the debate was over. Our farmers deserve this relief and should not be caught in a game of party politics.