End Outsourcing Act
Latest action · Apr 29, 2021 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 29, 2021
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 2
Members who signed on, in the order they did. All signed on Apr 29, 2021.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MI | Gary C. Peters | Original | Apr 29, 2021 |
| D-WI | Tammy Baldwin | Original | Apr 29, 2021 |
Actions 2
Everything that happened, newest first.
- Apr 29, 2021Introduced in Senate
- Apr 29, 2021Read twice and referred to the Committee on Finance.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2341 | Bring Jobs Home Act | Related bill | Apr 1, 2021 |
| HR 2745 | End Outsourcing Act | Identical bill | Apr 21, 2021 |
Subjects
Assigned by the Library of Congress. Policy area: 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
- Taxation of foreign income
- U.S. territories and protectorates
- Unemployment
Text 1
Each version as it was printed, newest first.
- Apr 29, 2021Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.