How the NDAA will kill jobs in America
- by admin
It’s not a new point that the NDAAA will hurt American jobs.
In fact, the bill would have the exact opposite effect.
The NDAA would force American manufacturers to stop selling their goods overseas and, according to the Associated Press, will create a $600 billion trade deficit between the United States and the rest of the world.
As the New York Times wrote last year, “the bill would make American manufacturing less competitive with Chinese competitors, undercut U.S. exports and hurt American businesses that rely on foreign workers to keep their doors open.”
It would also send jobs overseas to foreign nations, who would then have to compete with American manufacturers on a level playing field.
The bill has the backing of a number of business groups and trade groups, including the U.K.’s business lobby, the CBI.
But the bill has been opposed by labor unions and a number public interest groups, such as the National Restaurant Association.
What’s more, the NDAAAA also contains provisions that would have to be passed by Congress in order to become law.
The Congressional Budget Office estimates that the bill will cost $600bn over a decade, and it could cost more.
The Senate passed the bill last month and President Obama has already said he supports the legislation.
The White House says the bill does not go far enough to prevent the United Kingdom from leaving the European Union, and the United Nations Human Rights Council has called for more drastic measures.
And some experts say the bill is even worse than the original draft, with a provision that would allow for more outsourcing of jobs and the weakening of unions.
The United States has already lost jobs in the automotive sector, according a report from the AFL-CIO.
And American manufacturers could lose millions in revenue if the bill passes, according the Associated the United Automobile Workers union.
The trade association estimates that there are about 3.3 million manufacturing jobs in American.
The AP also reported that there would be a $400 billion trade surplus in the United State if the NDAAAAAAAA passes.
The U.N. estimates that if the Senate bill becomes law, U.W. workers could lose more than $300 billion in future wages.
But that’s only the beginning.
The Associated Press reported that “at least $300bn in tax breaks and tax credits could be wiped away by the legislation.”
The NDAAA would also require that any U.C.M.B. (United States Chamber of Commerce) that receives a U.F.O. from China, the United Arab Emirates or another country, or from any company that is a member of the International Monetary Fund or the World Bank, has to disclose information on all of its foreign direct investment in the U of A. If a company fails to disclose its foreign investment, then it will be able to lose some of the benefits that U.P. companies enjoy, such a special tax credit, a lower tax rate, the right to buy foreign government bonds and a higher share of profits.
The House is expected to pass the NDAAF by a wide margin.
House Majority Leader Nancy Pelosi, a Democrat, has said she wants to push through the bill “without any modifications.”
And President Obama is expected next week to sign the NDTA into law.
A draft version of the NDIAB has already been released.
It’s not a new point that the NDAAA will hurt American jobs.In fact, the bill would have the exact opposite…