Protecting American Jobs Act This bill limits the authority of the National Labor Relations Board. Specifically, it repeals the authority of the General Counsel of the board to issue, and prosecute before the board, complaints of unfair labor practices. The bill also limits the board's rulemaking authority to rules concerning the internal functions of the board and prohibits the board from promulgating regulations affecting the substantive or procedural rights of any person, employer, employee, or labor organization, including rules concerning unfair labor practices and representation elections. Not later than six months after this bill is enacted, the board must review existing regulations and revise or rescind such regulations as necessary to implement these modifications to the board's rulemaking authority. In addition, the bill repeals the board's authority to issue orders preventing unfair labor practices, replacing it with a more limited authority to investigate allegations of such practices. Finally, it repeals the board's authority to petition courts for enforcement of its orders, seek injunctions, or hold hearings on jurisdictional strikes.