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Press Release

Big Banks Benefit from Tax Bill, Aggressively Offshore American Jobs

Press Release

The banking industry is among the biggest beneficiaries from the Republican tax bill passed in December 2017. Yet many U.S. banks have been aggressively offshoring U.S. jobs, especially in the call center and customer service industry, to low-wage countries. Despite these offshoring practices, and their financial windfall from the tax bill, there is no movement from the big banks to return jobs from overseas. In fact, leading analysts believe that the tax bill will encourage the additional offshoring of American jobs.