American Business for American Companies Act of 2021

Summary

American Business for American Companies Act of 2021 This bill makes permanent and expands restrictions that prohibit federal agencies from awarding contracts to inverted domestic corporations. (Similar restrictions have historically been included in annual appropriations measures.) Specifically, an agency may not award a contract for the procurement of property or services (including a defense contract) to (1) any foreign incorporated entity determined to be an inverted domestic corporation or any subsidiary of such entity, or (2) any joint venture more than 10% of which is held by such an entity or subsidiary. An inverted domestic corporation is a company that was previously incorporated in the United States or was a partnership in the United States but is now incorporated in a foreign country despite (1) a majority of the company being owned by the owners of the former domestic entity, or (2) management of the company primarily occurring in the United States.

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Timeline

1. 17 June 2021

   Introduced

   Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (text: CR S4627-4627)

   Source: IntroReferral

2. 17 June 2021

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 17 June 2021 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 June 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 June 2021

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 17 June 2021

  Open at official source

Sponsors

• Richard Durbin · D · Sponsor
• John Reed · D · Sponsor
• Tammy Duckworth · D · Sponsor
• Sheldon Whitehouse · D · Sponsor
• Bernie Sanders · I · Sponsor
• · ssga00 · Standing

Related records

• related to ← American Business for American Companies Act of 2021