Patriot Corporations Becoming Campaign Theme

By February 14, 2008Taxation

From The Daily Briefing, the political blog of the Colombus Dispatch, reporting on Sen. Barack Obama’s campaign.

His campaign sent out a memo to reporters this morning saying that Obama opposes NAFTA and similar trade pacts and supports legislation in the Senate called the Patriot Employers Act that would “would eliminate tax breaks for corporations that ship jobs overseas and provide incentives for corporations to invest in their U.S. workforce.”

Coincidentally, perhaps, that is legislation Brown mentioned to The Daily Briefing yesterday when he was talking about what he would be looking for from Obama and Clinton on trade and the economy as he tried to decide who to eventually support. Brown says he will not endorse before the Ohio March 4 primary, however.

That’s not all the legislation would do. Here’s the CRS summary for S. 1945:

Patriot Employers Act – Amends the Internal Revenue Code to allow a taxpayer certified as a Patriot employer by the Secretary of the Treasury a tax credit for one percent of such employer’s taxable income. Defines a “Patriot employer” as any taxpayer who: (1) maintains its headquarters in the United States; (2) pays at least 60% of the health care premiums of its employees; (3) observes a policy requiring neutrality in employee organizing drives; (4) maintains or increases the number of its full-time workers in the United States relative to its full-time workers outside of the United States; (5) provides full differential salary and insurance benefits for all National Guard and Reserve employees called to active duty; and (6) provides its employees with a certain level of compensation and retirement benefits.

It’s a start, but of course, if a company’s very patriotism is at stake, government can demand so much more.

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