Koster Signs the Americans for Tax Reform Federal Taxpayer Protection Pledge

Commits Himself to Tax Breaks That Reward Companies that Send American Jobs Overseas

Everett, WA – In a King5 interview set to air Sunday, Republican candidate for Congress, John Koster, learned that a pledge he signed commits him to protect tax breaks for multinational companies that send American jobs overseas. Despite this revelation, Koster stood by his pledge.

"There is a clear choice this fall," said Brooke Davis, Rick Larsen’s Political Director. "By signing the pledge, John Koster supports tax breaks that reward companies for shipping American jobs overseas. In contrast Rick Larsen has been a champion for small and medium sized manufacturers in the Northwest. He is fighting to make sure that companies build things locally, create jobs locally and export their products – not their jobs – overseas.”

Davis continued, “Larsen is laser focused on trying to keep Boeing jobs in Northwest Washington starting with helping men and women at Boeing build the new Air Force tanker.”

John Koster signed the Americans for Tax Reform (ATR) Federal Taxpayer Protection Pledge. The ATR pledge requires opposition to any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates.

Background

John Koster signed the Americans for Tax Reform (ATR) Federal Taxpayer Protection Pledge to oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates. http://www.atr.org/election-taxpayer-protection-pledge-signers-a5361

ATR put out a press release http://www.atr.org/tax-pledge-alert-atr-keyvote-againstbr-a5298 stating that the Education Jobs Bill (HR 1586) violates the Taxpayer Protection Pledge.

Citizens for Tax Justice wrote that, “these loopholes can result in U.S. corporations enjoying a negative effective tax rate on their offshore investment income. This creates a strong incentive for U.S. corporations to shift profits offshore, either through accounting gimmicks or by moving actual operations and jobs offshore… Since the bill included the most effective possible job creation measures and offset the costs by closing tax loopholes that encourage U.S. corporations to shift profits and jobs offshore, it's about as close as Congress ever comes to a win-win proposal.” [Citizens for Tax Justice, 8/25/10]