H.R. 5542 (112th): Bring Jobs Home Act

Introduced:
May 08, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Bill Pascrell Jr. [D-NJ8]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 851 on Feb 27, 2013. See H.R. 851 for current action on this subject.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on May 8, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced May 08, 2012
Referred to Committee May 08, 2012
Cosponsors
88 cosponsors (87D, 1R) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to encourage domestic insourcing and discourage foreign outsourcing.

Summary

No summaries available.

Text

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Last updated May 08, 2012.
13 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

5/8/2012--Introduced.
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.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)