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Ford enjoys benefits of "American Jobs Creation Act"

by Nick Aziz

It might seem strange that Ford, a company that cut 10,000 jobs in 2005, and will cut 30,000 this year, would continues to benefit from something called the "American Jobs Creation Act," but Newsweek columnist Allan Sloan says that's exactly what's happening. This week, Ford said that "repatriation of foreign earnings pursuant to the American Jobs Creation Act of 2004 resulted in a permanent tax savings of about $250 million." Sloan asks, "How can you simultaneously cut jobs and benefit from the American Jobs Creation Act?"