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S 2569 - Bring Jobs Home Act - National Key Vote

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Title: Bring Jobs Home Act

Vote Smart's Synopsis:

Vote on a motion to invoke cloture on a bill that prohibits tax credits for outsourcing expenses and establishes a tax credit for insourcing expenses.

Highlights:

  • Prohibits tax credits for “specified outsourcing expenses” (Sec. 3).
  • Defines “specified outsourcing expenses” as eligible expenses paid or incurred by an individual in connection with the elimination of a business unit within the United States and the relocation of the business unit outside the United States (Sec. 3).
  • Establishes a tax credit equal to 20 percent of an individual’s “eligible insourcing expenses” for the taxable year (Sec. 2).
  • Defines “eligible insourcing expenses” as eligible expenses paid or incurred by an individual in connection with the elimination of a business unit outside the United States and the relocation of the business unit within the United States (Sec. 2).
  • Requires the number of full-time employees to exceed the number of full-time employees from the preceding year for an individual to be eligible for the tax credit (Sec. 2).

NOTE: INVOKING CLOTURE REQUIRES A 3/5 MAJORITY OF THE SENATE. IT IS NOT A VOTE ON THE PASSAGE OF THE PIECE OF LEGISLATION, BUT LIMITS FURTHER DEBATE TO 30 HOURS. CLOTURE IS TYPICALLY USED TO END A FILIBUSTER. A FAILED CLOTURE VOTE OFTEN PREVENTS THE LEGISLATION FROM EVER COMING TO A VOTE.

Full Bill Text

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