Denver: Sticking to his opposition to outsourcing jobs to countries like India, US President Barack Obama has said that he wants to give tax breaks to companies that are investing in the United States.
During an intense debate with his Republican challenger Mitt Romney, Obama noted that the corporate tax rate is too high, which he wants to bring down, particularly for manufacturing, taking it down to 25 per cent.
"But I also want to close those loopholes that are giving incentives for companies that are shipping jobs overseas. I want to provide tax breaks for companies that are investing here in the United States," the President said in a face-off with Romney in the first of the three crucial debates ahead of the November 6 presidential polls.
Obama had earlier also gone full blast against Romney, former Massachusetts governor, on the issue, accusing him of outsourcing American jobs to countries like India and China.
"There was an article the other day in The Washington Post about how Romney's former firm—you know, this is what gave him all this amazing success—was a pioneer in offshoring jobs to China and India," Obama had said at an election rally in Atlanta, Georgia, recently.