BPO companies in the Philippines, whose majority of contracts is with American companies, breathe a sigh of relief in response to the news. As a prime outsourcing service destination, the passage of the bill would have caused a dent in the Philippines BPO industry which has seen phenomenal growth in recent years and ranking number one in voice-based services.
The U.S. anti-outsourcing bill, the so-called ?Bring Jobs Home Act?, was rejected by the U.S. Senate? 56-42 votes in favor of trashing the bill. Orrin Hatch, R-Utah, had said that there is no tax break for outsourcing, adding that the bill ?is devoid of serious content because it is of political rather than economic priorities.?
The ?Bring Jobs Home Act,? the anti-outsourcing bill backed by U.S. President Barack Obama in his campaign of bringing jobs back home to America, would have eliminated tax breaks for American companies outsourcing business processes to offshore locations, and provide a 20% tax deduction on costs associated with closing outsourced operations and bringing jobs back to the US.
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BPO companies in the Philippines, whose majority of contracts is with American companies, breathe a sigh of relief in response to the news. As a prime outsourcing service destination, the passage of the bill would have caused a dent in the Philippines BPO industry which has seen phenomenal growth in recent years and ranking number one in voice-based services. In response to the U.S. anti-outsourcing bill gaining popularity, the Philippine outsourcing industry has looked to other potential markets like Canada, Great Britain and some countries in Europe. Nevertheless, the news of the anti-outsourcing bill being rejected is still welcomed? and warmly so.
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According to Business Processing Association of the Philippines (BPAP), this rejection of the anti-outsourcing bill only confirmed that outsourcing is a win-win proposition for both Philippines and American companies.
?Outsourcing business services to the Philippines help make American companies more competitive and profitable,? said Benedict Hernandez, president and CEO of BPAP. ?Profitable companies hire more workers, both here, and in the United States.?
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Source: http://northernworx.com/u-s-anti-outsourcing-bill-rejected-by-senate
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