H.R. 5622 · 111th Congress
Stop Outsourcing and Create American Jobs Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
McNerneySponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Stop Outsourcing and Create American Jobs Act of 2010 - Directs the Secretary of the Treasury to develop and publish a list of countries that are tax havens for corporations.
What it does: CRS summary · Introduced in House · Jun 29, 2010
Stop Outsourcing and Create American Jobs Act of 2010 - Directs the Secretary of the Treasury to develop and publish a list of countries that are tax havens for corporations.
Amends the Internal Revenue Code to increase the penalties on corporations for: (1) underpayment of tax involving an undisclosed foreign financial asset located in a tax haven country; (2) reportable transaction understatements involving transactions in a tax haven country; and (3) fraud, tax evasion, or false statements involving transactions in a tax haven country.
Grants a preference in the award of federal contracts to contractors who have not engaged in outsourcing. Defines "outsourcing" as the laying off of a U.S. worker from a job and the hiring or contracting for the same job to be performed in a foreign country.
Requires revenues generated by this Act to be set aside for the reduction of the public debt.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Stop Outsourcing and Create American Jobs Act of 2010
Latest action (Jun 29, 2010): Referred to House Oversight and Government Reform
Policy area: Taxation · Origin: House · Introduced: Jun 29, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.