End Outsourcing Act

Summary

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.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 March 2020

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 March 2020

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 10 March 2020

  Open at official source

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