Banning Federal Contracts for Companies That Moved Headquarters Overseas
This bill aims to prevent companies that reincorporated abroad primarily to reduce US tax liability (known as 'inverted domestic corporations') from receiving federal government contracts. This ensures that taxpayer money is directed toward supporting businesses that maintain significant operations and pay taxes within the United States. The prohibition applies to both major prime contracts and large subcontracts in civilian and defense sectors.
Key points
The Federal Government (civilian and defense agencies) is prohibited from awarding contracts for property or services to inverted domestic corporations or their subsidiaries.
The restrictions extend to subcontracts valued over $10 million, preventing inverted companies from performing more than 10% of the total prime contract value.
Waivers to the ban are permitted only if required for national security interests or necessary for critical health benefit or public health programs.
Status:
Expired
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