- Associated Press - Thursday, July 17, 2014

ALBANY, N.Y. (AP) - U.S. Sen. Charles Schumer says changes to federal tax rules could prevent companies from sending jobs overseas - and potentially prompt some businesses to bring jobs back to New York state.

The Democrat told reporters Wednesday that he’s supporting legislation that would provide a 20 percent tax credit to businesses that bring outsourced jobs back to the United States. The bill would also eliminate incentives for companies to move jobs out of the country.

The tax credit would reduce a company’s taxes on the costs of moving their business back to the U.S.

Schumer says more than 100 New York companies have outsourced jobs since 2008.


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