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By Alicia Adamczyk
March 4, 2016
Democratic Presidential Candidate Hillary Clinton speaks to supporters at a rally at the Javits Center following Super Tuesday on March 2, 2016 in New York City.
Democratic Presidential Candidate Hillary Clinton speaks to supporters at a rally at the Javits Center following Super Tuesday on March 2, 2016 in New York City.
Andrew Renneisen—Getty Images

Democratic presidential candidate Hillary Clinton will announce a plan to discourage further outsourcing of American manufacturing jobs. In a Friday speech in Detroit, she will propose revoking tax relief and other incentives retroactively for U.S. companies that move jobs overseas, Bloomberg reports.

The candidate’s campaign said the measures may date back “several previous years,” and would affect the R&D tax credit as well as a tax break for domestic manufacturers known as the Section 199 Deduction.

Clinton has previously called for a corporate “exit tax” to crack down on corporate inversion, a practice by which U.S. companies merge with smaller companies overseas to avoid paying taxes at home.

Read Next: Everything You Need to Know About Inversion

The Democratic candidate will reportedly unveil the proposal today at a campaign stop at the automotive supplier, Detroit Manufacturing Systems. Michigan residents will vote in their presidential primary on Tuesday.

In other tax-related news, a recent analysis from the Tax Policy Center found that Clinton’s domestic tax proposal would cost the top 1% of Americans an extra $78,000 per year, while taxes for the top 0.1% will increase by an average of $519,741 each year. Meanwhile earners in the middle class and bottom 20% of the population would hardly see an increase.

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The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

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Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

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