US SB247 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Democrat 18-0)
Status: Introduced on January 30 2017 - 25% progression, died in committee
Action: 2017-01-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 30 2017 - 25% progression, died in committee
Action: 2017-01-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Bring Jobs Home Act This bill amends the Internal Revenue Code to: (1) grant 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) deny 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.
Title
Bring Jobs Home Act
Sponsors
| Sen. Debbie Stabenow [D-MI] | Sen. Sheldon Whitehouse [D-RI] | Sen. Tammy Baldwin [D-WI] | Sen. Jeanne Shaheen [D-NH] |
| Sen. Jack Reed [D-RI] | Sen. Richard Blumenthal [D-CT] | Sen. Amy Klobuchar [D-MN] | Sen. Sherrod Brown [D-OH] |
| Sen. Richard Durbin [D-IL] | Sen. Claire McCaskill [D-MO] | Sen. Kirsten Gillibrand [D-NY] | Sen. Gary Peters [D-MI] |
| Sen. Robert Menendez [D-NJ] | Sen. Al Franken [D-MN] | Sen. Robert Casey [D-PA] | Sen. Dianne Feinstein [D-CA] |
| Sen. Joe Donnelly [D-IN] | Sen. Elizabeth Warren [D-MA] |
History
| Date | Chamber | Action |
|---|---|---|
| 2017-01-30 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB685 (Related) 2017-01-24 - Referred to the House Committee on Ways and Means.
SB234 (Related) 2017-01-24 - Read twice and referred to the Committee on Finance.
HB2756 (Related) 2017-05-26 - Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, 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.
SB234 (Related) 2017-01-24 - Read twice and referred to the Committee on Finance.
HB2756 (Related) 2017-05-26 - Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, 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.
Subjects
Business investment and capital
Employee hiring
Foreign and international corporations
Income tax credits
Income tax deductions
Taxation
Taxation of foreign income
U.S. territories and protectorates
Employee hiring
Foreign and international corporations
Income tax credits
Income tax deductions
Taxation
Taxation of foreign income
U.S. territories and protectorates
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/115th-congress/senate-bill/247/all-info |
| Text | https://www.congress.gov/115/bills/s247/BILLS-115s247is.pdf |
