The US Senate Republicans have blocked the passage of an anti-outsourcing bill that denied tax breaks to US companies which move jobs overseas.Republicans in a 53-45 vote blocked the bill, which fell six votes short for passage. The bill envisaged a ban on government contractors from using American taxpayers' money to move jobs offshore. The development has become a set back to President Barack Obama, who vigorously campaigned for it saying it will create jobs in America. India, which already holds at least 50 per cent of the global outsourcing market, has become the world's back office as Western firms set up call centres and software development outlets to cut costs. Indian IT honchos have maintained that the bill won't make much of an impact on India. However, they warned that US companies operating in other countries may be beaten by the same stick.
News On AIR | September 29, 2010 8:14 PM
US Senate Republicans block passage of anti-outsourcing bill