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Bring Jobs Home Act

USA117th CongressHR-2341| House 
| Updated: 4/1/2021
Bill Pascrell

Bill Pascrell

Democratic Representative

New Jersey

Cosponsors (5)
Eric Swalwell (Democratic)Thomas R. Suozzi (Democratic)Danny K. Davis (Democratic)Eleanor Holmes Norton (Democratic)Julia Brownley (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.
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Timeline

Bill from Previous Congress

HR 116-6992
Bring Jobs Home Act
Apr 1, 2021
Introduced in House
Apr 1, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-6992
    Bring Jobs Home Act


  • April 1, 2021
    Introduced in House


  • April 1, 2021
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • S 117-1513: End Outsourcing Act
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

USA117th CongressHR-2341| House 
| Updated: 4/1/2021
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

Bill from Previous Congress

HR 116-6992
Bring Jobs Home Act
Apr 1, 2021
Introduced in House
Apr 1, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-6992
    Bring Jobs Home Act


  • April 1, 2021
    Introduced in House


  • April 1, 2021
    Referred to the House Committee on Ways and Means.
Bill Pascrell

Bill Pascrell

Democratic Representative

New Jersey

Cosponsors (5)
Eric Swalwell (Democratic)Thomas R. Suozzi (Democratic)Danny K. Davis (Democratic)Eleanor Holmes Norton (Democratic)Julia Brownley (Democratic)

Ways and Means Committee

Taxation

Related Bills

  • S 117-1513: End Outsourcing Act
  • 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