“I want to stop giving tax breaks to companies that ship jobs and factories overseas,” Obama said in a speech in Cedar Rapids, Iowa on Tuesday.’
“As long as I’m president, I will keep fighting to make sure jobs are located here in the United States of America,” said Obama.
However, Obama’s 2009 economic stimulus spending law–the $787 billion American Recovery and Reivnestment Act–gave millions of federal dollars to foreign companies or funded domestic companies that built factories in foreign countries or bought foreign products.
For example, there is the North Carolina LED manufacturer Cree Inc. Cree was awarded $39 million through a stimulus-funded tax credit program in January 2010. However, half of the company’s employees are in China and the company opened a manufacturing plant in Huizhou City, China in November 2009, according to an article in the industry publication LEDs Magazine.