H.R. 6992 · 116th Congress
Bring Jobs Home Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PascrellSponsor10 cosponsors · 10 D
D
Brownley
NB
D
Barragán
SC
D
Cohen
DD
D
Davis
SD
D
DelBene
BL
D
Lee
EN
D
Norton
LS
D
Sánchez
ES
D
Swalwell
BW
D
Watson Coleman10 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · May 22, 2020
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bring Jobs Home Act
Latest action (May 22, 2020): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 22, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.