End Outsourcing Act
Summary
The End Outsourcing Act (S. 1513) aims to discourage American companies from moving jobs and operations overseas by removing several financial incentives for doing so. Under this bill, businesses would no longer be able to claim tax deductions for expenses related to outsourcing, such as the cost of moving equipment or licensing fees, and would instead receive a tax credit for "insourcing" jobs back to the United States. Additionally, the bill allows the federal government to prioritize companies that maintain a domestic workforce when awarding government contracts, grants, and loans.
For everyday citizens, this legislation is designed to protect domestic employment by making it more expensive for companies to relocate work to foreign countries. If passed, workers would also receive more transparency, as employers would be required to explicitly disclose if a mass layoff or plant closing is the result of outsourcing. The practical goal of the bill is to use the tax code and federal spending power to stabilize the American job market and encourage investment in local communities.