Ways and Means Committee, Armed Services Committee, Education and Workforce Committee, Oversight and Government Reform Committee
Introduced
In Committee
On Floor
Passed Chamber
Enacted
End Outsourcing Act This bill addresses the outsourcing (transfer) of jobs and companies from the United States to low-tax foreign jurisdictions. The bill (1) requires employers to include an outsourcing statement in worker adjustment and retraining notices; (2) denies employers a tax deduction for outsourcing expenses, including license fees and equipment installation costs; (3) allows a tax credit for similar insourcing expenses; (4) denies employers the use of certain favorable accounting methods and a deduction for interest paid on indebtedness; and (5) requires the recapture of certain tax credit amounts allowed to outsourcing employers. The bill authorizes federal contracting officers to take the outsourcing of jobs from the United States into account in awarding contracts and grants and extending loans and loan guarantees to corporations.
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Oversight and Reform, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Oversight and Reform, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Accounting and auditingAdministrative law and regulatory proceduresBusiness investment and capitalCongressional oversightEmployee hiringForeign and international corporationsGovernment lending and loan guaranteesGovernment studies and investigationsIncome tax creditsIncome tax deductionsInterest, dividends, interest ratesLabor-management relationsLicensing and registrationsMilitary procurement, research, weapons developmentOffice of Management and Budget (OMB)Public contracts and procurementTaxation of foreign incomeUnemploymentU.S. territories and protectorates
End Outsourcing Act
USA117th CongressHR-2745| House
| Updated: 4/21/2021
End Outsourcing Act This bill addresses the outsourcing (transfer) of jobs and companies from the United States to low-tax foreign jurisdictions. The bill (1) requires employers to include an outsourcing statement in worker adjustment and retraining notices; (2) denies employers a tax deduction for outsourcing expenses, including license fees and equipment installation costs; (3) allows a tax credit for similar insourcing expenses; (4) denies employers the use of certain favorable accounting methods and a deduction for interest paid on indebtedness; and (5) requires the recapture of certain tax credit amounts allowed to outsourcing employers. The bill authorizes federal contracting officers to take the outsourcing of jobs from the United States into account in awarding contracts and grants and extending loans and loan guarantees to corporations.
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Oversight and Reform, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Oversight and Reform, and Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Accounting and auditingAdministrative law and regulatory proceduresBusiness investment and capitalCongressional oversightEmployee hiringForeign and international corporationsGovernment lending and loan guaranteesGovernment studies and investigationsIncome tax creditsIncome tax deductionsInterest, dividends, interest ratesLabor-management relationsLicensing and registrationsMilitary procurement, research, weapons developmentOffice of Management and Budget (OMB)Public contracts and procurementTaxation of foreign incomeUnemploymentU.S. territories and protectorates