To amend the Internal Revenue Code of 1986 to encourage domestic insourcing and discourage foreign outsourcing.
Bring Jobs Home Act - Amends the Internal Revenue Code to: (1) grant 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) deny a tax deduction for outsourcing expenses incurred in relocating a U.S. business outside the United States. 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.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 451.
Read twice and referred to the Committee on Finance.
Cloture on the measure not invoked in Senate by Yea-Nay Vote. 54 - 42. Record Vote Number: 249. (consideration: CR S5082-5083; text: CR S5082)
Read twice and referred to the Committee on Finance.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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