US SB2884 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on May 8 2012 - 25% progression, died in committee
Action: 2012-05-08 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 8 2012 - 25% progression, died in committee
Action: 2012-05-08 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Bring Jobs Home Act - 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. 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. Richard Blumenthal [D-CT] | Sen. Sherrod Brown [D-OH] | Sen. Christopher Coons [D-DE] |
Sen. Richard Durbin [D-IL] | Sen. Jeff Merkley [D-OR] | Sen. Charles Schumer [D-NY] | Sen. Sheldon Whitehouse [D-RI] |
History
Date | Chamber | Action |
---|---|---|
2012-05-08 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB5542 (Related) 2012-05-08 - Referred to the House Committee on Ways and Means.
SB3364 (Same As) 2012-07-19 - Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 56 - 42. Record Vote Number: 181. (consideration: CR S5189; text: CR S5189)
HB6152 (Related) 2012-07-19 - Referred to the House Committee on Ways and Means.
SB3364 (Same As) 2012-07-19 - Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 56 - 42. Record Vote Number: 181. (consideration: CR S5189; text: CR S5189)
HB6152 (Related) 2012-07-19 - Referred to the House Committee on Ways and Means.
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/112th-congress/senate-bill/2884/all-info |
Text | https://www.congress.gov/112/bills/s2884/BILLS-112s2884is.pdf |