S.247 – A bill to provide an incentive for businesses to bring jobs back to America.
Official Titles as Introduced:
A bill to provide an incentive for businesses to bring jobs back to America.
Introduced in Senate (01/30/2017)
Bring Jobs Home Act
This bill 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. The bill 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.