US Congress House Bill 3812 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on October 22 2015 - 25% progression, died in committee
Action: 2015-10-22 - Referred to House Oversight and Government Reform
Pending: House Oversight And Government Reform Committee
Text: Latest bill text (Introduced) [PDF]

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.

Stop Outsourcing and Create American Jobs Act of 2015

Rep. Jerry McNerney [D-CA]	Rep. Barbara Lee [D-CA]	Rep. Mark Takano [D-CA]	Rep. Peter DeFazio [D-OR]
Rep. Brad Sherman [D-CA]

Date	Chamber	Action
2015-10-22	House	Referred to House Oversight and Government Reform
2015-10-22	House	Referred to House Ways and Means
2015-10-22	House	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.
2015-10-22	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/3812/all-info
Text	https://www.congress.gov/114/bills/hr3812/BILLS-114hr3812ih.pdf