S 3364 - Bring Jobs Home Act - Key Vote
National Key Votes
Legislation - Cloture Not Invoked (Senate) (56-42) - July 19, 2012(Key vote)
Title: Bring Jobs Home Act
Vote on a motion to invoke cloture on a bill that submits a constitutional amendment to the voters that repeals tax deductions for companies that outsource jobs and establishes tax credits for companies that insource jobs.
- Authorizes a 20 percent tax credit for eligible insourcing expenses incurred during a taxable year by a taxpayer (Sec. 2).
- Defines “eligible insourcing expense” as any eligible expense paid or incurred by a taxpayer through moving his or her company’s location from outside of the United States to a location within the United States (Sec. 2).
- Requires eligible insourcing expenses to be from the taxable year in which the insourcing plan is completed and during which eligible insourcing expenses are paid or incurred (Sec. 2).
- Requires the number of full-time employees of the taxpayer of a taxable year to exceed the number of full-time employees of the taxpayer from the previous taxable year in order for the taxpayer’s eligible insourcing expenses to qualify for a tax credit (Sec. 2).
- Prohibits tax deductions for specified outsourcing expenses (Sec. 3).
- Defines “specified outsourcing expenses” as any eligible expenses paid or incurred by a taxpayer through moving his or her company from a location within the United States to a location outside of the United States (Sec. 3).
- Requires the earnings and profits of controlled foreign corporations to be determined without regard to specified outsourcing expenses (Sec. 3).
NOTE: THIS IS A VOTE TO INVOKE CLOTURE ON A MOTION TO PROCEED, WHICH SENDS THE LEGISLATION TO THE FLOOR OF THE SENATE FOR DEBATE AND AMENDMENT. A MOTION TO PROCEED ALONE REQUIRES A MAJORITY FOR APPROVAL. HOWEVER, THE MOTION CAN BE FILIBUSTERED, AND WHEN THIS OCCURS, A CLOTURE VOTE IS NECESSARY TO VOTE ON THE MOTION TO PROCEED. A THREE-FIFTHS MAJORITY OF THE SENATE IS NECESSARY TO INVOKE CLOTURE.
Legislation - Introduced (Senate) - July 9, 2012
Title: Bring Jobs Home Act
- Richard 'Dick' Blumenthal (CT - D)
- Sherrod C. Brown (OH - D)
- Benjamin L. 'Ben' Cardin (MD - D)
- Robert P. 'Bob' Casey Jr. (PA - D)
- Christopher A. 'Chris' Coons (DE - D)
- Richard J. 'Dick' Durbin (IL - D)
- Al Franken (MN - D)
- Kirsten E. Gillibrand (NY - D)
- Amy Klobuchar (MN - D)
- Claire McCaskill (MO - D)
- Jeffery A. 'Jeff' Merkley (OR - D)
- Barbara A. Mikulski (MD - D) (Out Of Office)
- John D. 'Jay' Rockefeller IV (WV - D) (Out Of Office)
- Charles E. 'Chuck' Schumer (NY - D)
- Sheldon Whitehouse (RI - D)