I speak of the tax deductions mentioned by the article I linked that the democrats in congress failed to repeal because of opposition by republicans.
maybe I used imprecise language. But to me a tax deduction for doing something is much the same as a tax break.
In other words rtfa
The article doesn't mention any specific tax breaks or deductions.
Tax deductions are not tax breaks.
"Income tax" is a tax on net income. Therefore to be an income tax, as permitted under our Constitution, ordinary and necessary expenses must be allowed as a deduction in arriving at net income. If you don't allow those expenses, you're not an income tax. If it doesn't qualify as an income tax it may not be Constitutional.
"Tax breaks" are special deductions etc. permitted to induce taxpayers to some action Congress deems beneficial. E.g., the section 179 expense permits taxpayers who buy equipment to deduct the entire amount in the year of purchase instead of spreading the deduction out over the useful lifetime of the equipment. Congress does this to spur taxpayers to make large equipment purchases now instead of a later year.
If you close a plant, you will have ordinary and necessary business expenses from that closure. If you open a new plant, regardless of it's location, you will also have ordinary and necessary business expenses.
I am unaware of any "tax breaks" for opening a new plant in a foreign country. In fact, things like the section 179 expense are already not allowed for foreign situs property.
I urge extreme caution when a Congress person speaks about taxes, particularly when speaking about "tax breaks" and loopholes". Everyone knows that tax law is incredibly complicated. The only person I'm aware in Congress with any tax education/experience is Michele Bachmann and I would take any remarks she said about tax with a bucket of salt.
Until someone can point to some specifics I will continue to assert that we have no tax breaks for moving businesses abroad. It's a bunch of political BS.
Fern