Barack Obama on Corporations Democratic Jr Senator (IL)

End tax breaks for companies that send jobs overseas

In today's economy, American workers have to compete against high-skilled workers across the globe. Obama will make long-term investments in education, training, & workforce development so that Americans can leverage our strengths--our ingenuity & entrepreneurialism--to create new high-wage jobs

Hold corporations responsible for pensions & work conditions

Hold Corporate America Responsible:
• Obama joined union efforts to get Wal-Mart & other large employers to improve working conditions, wages & health coverage.
• Obama supports amending bankruptcy laws to keep companies from avoiding their pension obligations.
• Obama supported new rules to force companies to properly fund their pension plans so workers aren't left without adequate retirement security.
• He has also voted to shore up the funding of the Pension Benefit Guaranty Corporation.

Tax incentives for corporate responsibility

Obama's "REAL USA" Corporations Plan (Responsible, Accountable, Loyal USA Corporations) will reward companies that create quality jobs in America with tax incentives. Companies will be required to:
1. locate in the United States 90% of its production and employment for the sales of goods and services that are consumed here;
2. invest at least 50% of its R&D budget here in the U.S;
3. make sure their workers have access to affordable health care by providing a standardized and portable health insurance plan and pay at least 70% of the cost;
4. make sure their workers have retirement security by contributing at least 5% of payroll to a portable, multi-employer pension fund and operating a profit-sharing plan for all full time employees; and
5. limit management compensation to 50 times the lowest-paid full-time worker.

Close tax loopholes for US companies relocating abroad

REAL USA Plan: Reward companies that create domestic jobs

1. locate in the United States 90% of its production and employment for the sales of goods and services that are consumed here;
2. invest at least 50% of its R&D budget here in the U.S;
3. make sure their workers have access to affordable health care by providing a standardized and portable health insurance plan and pay at least 70% of the cost;
4. make sure their workers have retirement security by contributing at least 5% of payroll to a portable, multi-employer pension fund and operating a profit-sharing plan for all full time employees; and
5. limit management compensation to 50 times the lowest-paid full-time worker.

Voted YES on repealing tax subsidy for companies which move US jobs offshore.

Voted NO on reforming bankruptcy to include means-testing & restrictions.

• Declare a debtor eligible only for Chapter 13, as anyone financially capable of paying back their creditors at a rate that still allows them to earn above their state's median income
• Place domestic support obligations such as child support and alimony amongst the first priority claim category of non-dischargeable debts on a debtor filing for bankruptcy
• Require debtors to pay for and attend credit counseling prior to filing for bankruptcy
• Cap home equity protection at $125,000 if the debtor purchased a house within 40 months of filing for bankruptcy.