Obama wants US cos to bring jobs back; rewards on cards

WASHINGTON: US President Barack Obama today called upon the American companies to bring jobs back to country for rebuilding the economy.

Calling on companies to invest in the US at 'Insourcing American Jobs' forum at the White House, Obama said, "I am calling on those businesses that have not brought jobs back to take this opportunity to get the American people back to work. That's how we will rebuild an economy where hard work pays off and responsibility is rewarded - and a nation where those values live on."

The White House said in the coming weeks, Obama will put forward new ways to encourage American companies to seize this opportunity to increase investment here at home and bring jobs back to America.

The President will put forward new tax proposals to reward companies that choose to invest or bring back jobs to the US, and to eliminate tax advantages for companies moving jobs overseas.

"Today I am meeting with companies choosing to invest in the one country with the most productive workers, best universities, and most creative and innovative entrepreneurs in the world: the United States of America," Obama said in his address to Corporate America leadership at the meeting.

That is exactly the "kind of commitment to country we need - especially now, at this make-or-break moment for the middle class", he said.

The forum will focus on the increasing trend of insourcing, wherein companies are bringing jobs back to the US and making additional investments in America.