Bring Jobs Home Act
- Last Action
- 1/24/2017
Actions
- 2017-01-24Referred to the House Committee on Ways and Means.
- 2017-01-24Introduced in House
- 2017-01-24Introduced in House
CRS Summary
As of 2017-01-24 (00)
Bring Jobs Home Act
This bill 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. The bill 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.
Cosponsors (20)
- Eric Swalwell (D-CA)
- ELEANOR NORTON (D-DC)
- Julia Brownley (D-CA)
- Michelle Lujan Grisham (D-NM)
- FRANK PALLONE (D-NJ)
- RON KIND (D-WI)
- JOHN LARSON (D-CT)
- Cheri Bustos (D-IL)
- Hakeem Jeffries (D-NY)
- LOUISE SLAUGHTER (D-NY)
- PETER VISCLOSKY (D-IN)
- Brendan Boyle (D-PA)
- JOSEPH CROWLEY (D-NY)
- Carol Shea-Porter (D-NH)
- Bonnie Watson Coleman (D-NJ)
- Frederica Wilson (D-FL)
- Brenda Lawrence (D-MI)
- TIM RYAN (D-OH)
- Tom O'Halleran (D-AZ)
- Colleen Hanabusa (D-HI)
Subjects
- Business investment and capital
- Employee hiring
- Foreign and international corporations
- Income tax credits
- Income tax deductions
- Taxation of foreign income
- U.S. territories and protectorates
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.