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Tax Changes: Ending Incentives for Outsourcing Jobs Abroad

This bill aims to discourage companies from moving jobs overseas. It modifies foreign income tax rules by eliminating tax-free investment returns and requiring per-country tax calculations for foreign subsidiaries. This means companies might pay more taxes if they outsource, encouraging them to keep jobs within the United States.
Key points
No more tax breaks for foreign investments: Companies will no longer get special tax benefits for income from investments outside the U.S.
Taxes calculated per country: Foreign income will be taxed separately for each country, making it harder to avoid paying taxes.
Encouraging U.S. job retention: The goal is to discourage companies from moving production and jobs abroad.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_20
Sponsor: Sen. Klobuchar, Amy [D-MN]
Process start date: 2021-01-22
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Removing Incentives for Outsourcing Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_20.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-01-22.

What are the main provisions?

Key points include:

  • No more tax breaks for foreign investments: Companies will no longer get special tax benefits for income from investments outside the U.S.
  • Taxes calculated per country: Foreign income will be taxed separately for each country, making it harder to avoid paying taxes.
  • Encouraging U.S. job retention: The goal is to discourage companies from moving production and jobs abroad.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Klobuchar, Amy [D-MN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Economy