U.S. Congress - H.R.5622 Stop Outsourcing and Create American Jobs Act of 2010
H.R.5622 - Stop Outsourcing and Create American Jobs Act of 2010
To amend the Internal Revenue Code of 1986 to provide for the identification of corporate tax haven countries and increased penalties for tax evasion practices in haven countries that ship United States jobs overseas, and for other purposes. view all titles (2)
All Bill Titles
- Short: Stop Outsourcing and Create American Jobs Act of 2010 as introduced.
- Official: To amend the Internal Revenue Code of 1986 to provide for the identification of corporate tax haven countries and increased penalties for tax evasion practices in haven countries that ship United States jobs overseas, and for other purposes. as introduced.
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Official Summary
6/29/2010--Introduced.Stop Outsourcing and Create American Jobs Act of 2010 - Directs the Secretary of the Treasury to develop and publish a list of countries that are tax havens for corporations. Amends the Internal Revenue Code to increase the penalties on corporations for: (1) underpaymOfficial Summary
6/29/2010--Introduced.Stop Outsourcing and Create American Jobs Act of 2010 - Directs the Secretary of the Treasury to develop and publish a list of countries that are tax havens for corporations. Amends the Internal Revenue Code to increase the penalties on corporations for:(1) underpayment of tax involving an undisclosed foreign financial asset located in a tax haven country;
(2) reportable transaction understatements involving transactions in a tax haven country; and
(3) fraud, tax evasion, or false statements involving transactions in a tax haven country. Grants a preference in the award of federal contracts to contractors who have not engaged in outsourcing. Defines "outsourcing" as the laying off of a U.S. worker from a job and the hiring or contracting for the same job to be performed in a foreign country. Requires revenues generated by this Act to be set aside for the reduction of the public debt.
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Recent News Coverage
Get angry: Congress can't even agree to mildly discourage outsourcing
...because our own Jason Perlow turned me on to two outsourcing-related bills winding their way through Congress. The bills, H.R.5622 and S. 3816 claim to reduce outsourcing and bring jobs back to the United States. As with all things U.S. government, what
Get angry: Congress can't even agree to mildly discourage outsourcing
...things U.S. government, what follows will baffle you, annoy you, and probably tick you off. Let’s start with the House bill, H.R.5622, the “Stop Outsourcing and Create American Jobs Act of 2010″. This thing was sponsored by New York Representative
Recent Blog Coverage
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Manila's Banter Beats Bangalore in $21 Billion Call-Center Race ...
Post-Recession Job Recovery Hampered by Offshoring http://www.democraticunderground.com/discuss/duboard.ph... Tell Pelosi to bring H.R. 5622 to the floor to create JOBs http://www.democraticunderground.com/discuss/duboard.ph. ...
AFL-CIO NOW BLOG | Union Leaders Say New Congress Must Follow ...
H.R. 5622 would also grant a preference in the award of federal contracts to contractors who have not engaged in outsourcing. This bill has been referred to the House Oversight and Government Reform so let's see if Congress is actually ...
Illinois Business Law Journal | Shipping Jobs to India: Democratic ...
In this regard, Democratic House Representative Jerry McNerney introduced legislation entitled: “Stop Outsourcing and Create American Jobs Act of 2010” (H.R. 5622) earlier this year. Under Section 4(a) of that Bill, ...
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