US Congress House Bill 3338 (Prior Session Legislation)

---

Sponsorship: Partisan Bill (Democrat 4)
Status: Introduced on November 3 2011 - 25% progression, died in committee
Action: 2011-11-03 - Referred to House Oversight and Government Reform
Pending: House Oversight And Government Reform Committee
Text: Latest bill text (Introduced) [PDF]

Stop Outsourcing and Create American Jobs Act of 2011 - 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.

Stop Outsourcing and Create American Jobs Act of 2011

Rep. Jerry McNerney [D-CA]

Rep. Timothy Bishop [D-NY]

Rep. Rush Holt [D-NJ]

Sen. Gary Peters [D-MI]

Date	Chamber	Action
2011-11-03	House	Referred to House Oversight and Government Reform
2011-11-03	House	Referred to House Ways and Means
2011-11-03	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/3338/all-info
Text	https://www.congress.gov/112/bills/hr3338/BILLS-112hr3338ih.pdf