THE US president Barack Obama is expected to soon propose new tax breaks that wiill reward companies that choose to bring jobs home and invest in America—and eliminate tax breaks for companies that move jobs overseas.The administration has supported the move and is willing to help the insourcing process. The president didn't divulge any further details, but he has proposed similar tax changes before but they haven't gained much traction because business groups would rather see comprehensive tax reform than proposals that tinker around the edges. While businesses are always happy to get a tax break, they make decisions on when and where to hire workers based on market considerations.

Besides proposing tax incentives for creating jobs domestically, Obama will also ask Congress for $12 million to beef up his administration’s SelectUSA program. Through this project, federal officials will work with state and local officials to attract foreign investment in the United States.In addition, the Small Business Administration will encourage businesses to use its international trade loans to insource jobs in the U.S.