Bill > HR6152

This bill, titled the "Bring Jobs Home Act," aims to incentivize businesses to bring operations back to the United States and discourage them from moving them overseas. It proposes a tax credit for businesses that incur expenses to eliminate a business located outside the U.S. and relocate it within the U.S., offering a credit of up to 20% of these "insourcing expenses." To qualify for this credit, businesses must also increase their number of full-time employees in the U.S. Conversely, the bill would deny businesses a tax deduction for "outsourcing expenses," which are costs associated with moving a U.S.-based business outside the country. Additionally, the bill includes provisions for corporate reorganizations, allowing for the non-recognition of gain when a corporation exchanges property solely for stock, excluding certain types of preferred stock.