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End Outsourcing Act

Introduced: March 10, 2020 Introduced by: Gillibrand, Kirsten E. Democratic · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 10, 2020
Read twice and referred to the Committee on Finance.
Mar 10, 2020
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

What's happening now March 10, 2020

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2