HR 2341
117th Congress
House
Taxation
American Samoa
Business investment and capital
Employee hiring
Foreign and international corporations
Guam
Income tax credits
Income tax deductions
Northern Mariana Islands
Puerto Rico
Taxation of foreign income
U.S. territories and protectorates
Virgin Islands
Bring Jobs Home Act
Introduced: April 1, 2021
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 1, 2021
Referred to the House Committee on Ways and Means.
Apr 1, 2021
Introduced in House
Plain-English summary
Bring Jobs Home Act
This bill (1) grants 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) denies 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.
The bill eliminates the temporary suspension (for taxable years 2018 through 2025) of the tax deduction for moving expenses.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1