Erskine Bowles on Tax Reform

Repeal tax breaks for companies moving jobs overseas

Stop all new trade agreements until Washington cracks down on illegal imports.
Create new jobs and keep existing jobs here in America by focusing investments on small businesses.
Repeal tax breaks that encourage companies to move jobs overseas & instead provide tax incentives to keep & create jobs in America.
Help businesses provide affordable health care for their employees.
Support R&D to help create the next generation of our manufacturing economy.

Source: Campaign website, www.bowlesforsenate.com, "Issues" Oct 15, 2004

Level playing field between domestic and foreign investment

I support a tax change that will not only level the playing field between domestic and foreign investment, but also generate increased tax revenues here in America. Under current law, US-owned corporations deduct state and local tax payments from their taxable income. But they get tax credits-which are much more favorable than deductions-for taxes paid to foreign states, cities and provinces. Treating foreign and domestic tax payments the same would increase tax revenues by $28.4 billion from 2004-08. Source: Bowles Jobs Plan Jul 5, 2004

Tax credits to keep film and television productions

Less than a decade ago, the film industry in North Carolina had an economic impact of $504 million. I support the "United States Independent Film and Television Production Incentive Act of 2003" sponsored by Senator Lincoln. It would establish an annual tax credit for 25 percent of up to the first $25,000 of qualified wages paid or incurred per qualified US independent film and TV production. It is a necessary step in the fight to protect jobs and the film industry in Wilmington and across the state. Source: Bowles Jobs Plan Jul 5, 2004

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