H.R.5542 - Bring Jobs Home Act

To amend the Internal Revenue Code of 1986 to encourage domestic insourcing and discourage foreign outsourcing. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to encourage domestic insourcing and discourage foreign outsourcing. as introduced.
  • Short: Bring Jobs Home Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
05/08/12
 
 
 
 
 
 
 

Sponsor

Representative

Bill Pascrell

D-NJ

View Co-Sponsors (88)

Official Summary

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 outso

Official Summary

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.

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