In his weekly radio address on Saturday, President Obama said, "There is no reason why our tax code should actively reward [American corporations] for creating jobs overseas. Instead, we should be using our tax dollars to reward companies that create jobs and businesses within our borders."
He was promoting a bill with a good title, the Creating American Jobs and Ending Offshoring Act. But a more accurate name would be the Move Your Corporate Headquarters Offshore Act, since its main effect would be to cause corporate headquarters to leave the United States.
Fortunately, this bill was filibustered on September 28 by a unanimous vote of Senate Republicans joined by Senators Joe Lieberman, Max Baucus, Jon Tester, Ben Nelson, and Mark Warner. Following is an official summary of the bill: