S. 2124 · 117th Congress
American Business for American Companies Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DurbinSponsor4 cosponsors · 3 D, 1 I
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.)
What it does: CRS summary · Introduced in Senate · Jun 17, 2021
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Business for American Companies Act of 2021
Latest action (Jun 17, 2021): Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (text: CR S4627-4627)
Policy area: Government Operations and Politics · Origin: Senate · Introduced: Jun 17, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.