Bill > HR6152

Introduced Session

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. Allows nonrecognition of gain in a corporate reorganization for corporations that exchange property solely for stock other than nonqualified preferred stock.

Committee Categories

Xavier Becerra (D),  Shelley Berkley (D),  Earl Blumenauer (D),  Joseph Crowley (WFP),  John Dingell (D),  Lloyd Doggett (D),  Ron Kind (D),  John Larson (D),  Sander Levin (D),  John Lewis (D),  Jim McDermott (D),  Richard Neal (D),  Bill Pascrell (D),  Charles Rangel (D),  Fortney Stark (D),  Mike Thompson (D), 

Referred to the House Committee on Ways and Means. (on 07/19/2012)

Official Document