House Ways and Means Committee Chairman Sander Levin, D-Mich., has introduced a bill that would close tax loopholes blamed for encouraging multinational companies to ship jobs overseas.

H.R. 5893, the Investing in American Jobs and Closing Tax Loopholes Act of 2010, also includes provisions for extending the Build America Bonds program for one year to fund domestic infrastructure improvements and to extend the Emergency Fund for Job Creation and Assistance program for another year to help states support job programs.

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