Legis Daily

Bring Jobs Home Act

USA116th CongressHR-6992| House 
| Updated: 5/22/2020
Bill Pascrell

Bill Pascrell

Democratic Representative

New Jersey

Cosponsors (10)
Barbara Lee (Democratic)Eric Swalwell (Democratic)Steve Cohen (Democratic)Suzan K. DelBene (Democratic)Danny K. Davis (Democratic)Eleanor Holmes Norton (Democratic)Bonnie Watson Coleman (Democratic)Julia Brownley (Democratic)Linda T. Sánchez (Democratic)Nanette Diaz Barragán (Democratic)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Bring Jobs Home Act This bill (1) grants business taxpayers a tax credit for up to 20% of insourcing expenses incurred for eliminating a business located outside the United States and relocating it within the United States, and (2) denies a tax deduction for outsourcing expenses incurred in relocating a U.S. business outside the United States. The bill requires an increase in the taxpayer's employment of full-time employees in the United States in order to claim the tax credit for insourcing expenses. The bill eliminates the temporary suspension (for taxable years 2018 through 2025) of the tax deduction for moving expenses.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 22, 2020
Introduced in House
May 22, 2020
Referred to the House Committee on Ways and Means.
  • May 22, 2020
    Introduced in House


  • May 22, 2020
    Referred to the House Committee on Ways and Means.

Taxation

American SamoaBusiness investment and capitalEmployee hiringForeign and international corporationsGuamIncome tax creditsIncome tax deductionsNorthern Mariana IslandsPuerto RicoTaxation of foreign incomeU.S. territories and protectoratesVirgin Islands

Bring Jobs Home Act

USA116th CongressHR-6992| House 
| Updated: 5/22/2020
Bring Jobs Home Act This bill (1) grants business taxpayers a tax credit for up to 20% of insourcing expenses incurred for eliminating a business located outside the United States and relocating it within the United States, and (2) denies a tax deduction for outsourcing expenses incurred in relocating a U.S. business outside the United States. The bill requires an increase in the taxpayer's employment of full-time employees in the United States in order to claim the tax credit for insourcing expenses. The bill eliminates the temporary suspension (for taxable years 2018 through 2025) of the tax deduction for moving expenses.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 22, 2020
Introduced in House
May 22, 2020
Referred to the House Committee on Ways and Means.
  • May 22, 2020
    Introduced in House


  • May 22, 2020
    Referred to the House Committee on Ways and Means.
Bill Pascrell

Bill Pascrell

Democratic Representative

New Jersey

Cosponsors (10)
Barbara Lee (Democratic)Eric Swalwell (Democratic)Steve Cohen (Democratic)Suzan K. DelBene (Democratic)Danny K. Davis (Democratic)Eleanor Holmes Norton (Democratic)Bonnie Watson Coleman (Democratic)Julia Brownley (Democratic)Linda T. Sánchez (Democratic)Nanette Diaz Barragán (Democratic)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
American SamoaBusiness investment and capitalEmployee hiringForeign and international corporationsGuamIncome tax creditsIncome tax deductionsNorthern Mariana IslandsPuerto RicoTaxation of foreign incomeU.S. territories and protectoratesVirgin Islands