Thursday, March 3, 2011
The "Buy American" Credit
Many Americans do not pay attention to where the products they purchase come from. Frequently, Americans are buying imported products that, if they are purchased in lieu of American-made products, can cost jobs here in the United States. In order to encourage the purchase of American-made products, a "Buy American" tax credit should be put in place. The tax credit would be equal to the amount of sales and/or use tax paid for goods produced in America, and services provided by American citizens. By implementing the tax credit, Americans would have incentive to pay attention to where the products and services they purchase come from. At the same time, there would be incentive for companies producing goods outside the United States to begin producing them here, in the process hiring American workers and helping grow the economy.