Will Rep. Rangel (D-NY)'s proposed corporate tax bill weaken tax incentives for domestic manufacturing? Even as this bill seems likely to reduce corporate tax rates across the board (from 35% to 30.5%), it would in part make up for this reduction be eliminating a deduction for domestic manufacturing:

Manufacturing companies, for example, would lose a deduction for domestic production that now reduces their tax rate on manufacturing income to 32%. But the lower corporate tax rate would be attractive and would apply to all income.

So it looks like Rangel's plan would reduce the overall tax rate on domestic manufacturers, but it would not reduce it (and would in fact increase it) relative to other corporate taxes. So it seems like this new plan would offer one fewer incentive for corporations to manufacture in the US (under Rangel's plan, the corp. would be taxed the same whether it manufactured in the US or in another country).