3.0.0 3425 2022-02-08T23:23:01Z 2022-02-08T23:23:01Z Senate S 2020-03-10 116 ssfi00 Finance Committee Senate Standing Referred to 2020-03-10T15:31:36Z End Outsourcing Act 116 6121 HR 2020-03-05 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Armed Services, and Oversight and Reform, 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. Identical bill CRS 2020-03-10 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-03-10 Introduced in Senate IntroReferral 10000 9 Library of Congress G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. N B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2020-03-10 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2020-03-10 True Taxation Accounting and auditing Administrative law and regulatory procedures Business investment and capital Congressional oversight Employee hiring Foreign and international corporations Government lending and loan guarantees Government studies and investigations Income tax credits Income tax deductions Interest, dividends, interest rates Labor-management relations Licensing and registrations Military procurement, research, weapons development Office of Management and Budget (OMB) Public contracts and procurement Taxation of foreign income U.S. territories and protectorates Unemployment Taxation 00 2020-03-10 Introduced in Senate 2020-03-31T18:30:38Z 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.

]]> End Outsourcing Act Display Title End Outsourcing Act Short Title(s) as Introduced End Outsourcing Act Introduced in Senate IS Official Title as Introduced A bill to provide incentives for businesses to keep jobs in America, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-03-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3425is/xml/BILLS-116s3425is.xml 2020-03-10 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.