Stop Outsourcing and Create American Jobs Act of 2015
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Oct 22, 2015)
Stop Outsourcing and Create American Jobs Act of 2015
This bill directs the Department of the Treasury to develop and publish a list of countries that are tax havens for corporations.
The bill 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.
The bill: (1) grants a preference in the award of federal contracts to contractors who have not engaged in outsourcing, and (2) 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.
Revenues generated by this Act must be set aside for the reduction of the public debt.
What just happenedOct 22, 2015
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.
Who’s behind it
- Introduced in HouseOct 22, 2015
- Oct 22, 2015IntroReferralH11100
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.
Oversight and Accountability Committee - Oct 22, 2015IntroReferralH11100-A
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.
- Oct 22, 2015IntroReferralH11100
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.
Ways and Means Committee - Oct 22, 2015IntroReferralIntro-H
Introduced in House
- Oct 22, 2015IntroReferral1000
Introduced in House