Pascrell Reintroduces Bring Jobs Home Act
Broad-reaching tax incentives to reward job creators and deter companies that offshore American jobs
Paterson, NJ, May 22, 2020
WASHINGTON, D.C. –U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), New Jersey’s only member of the tax-writing House Ways and Means Committee, today reintroduced the Bring Jobs Home Act, legislation which seeks to cut taxes for American companies that move jobs to the U.S. from another nation, and also would close tax loopholes that reward companies shipping jobs overseas. Pascrell’s bill is cosponsored by Reps. Danny Davis (D-IL-07), Linda Sanchez (D-CA-38), Suzan DelBene (D-WA-01), Eric Swalwell (D-CA-15), Eleanor Holmes Norton (D-DC), Julia Brownley (D-CA-26), Bonnie Watson Coleman (D-NJ-12), Nanette Diaz Barragan (D-CA-44), Barbara Lee (D-CA-13), and Steve Cohen (D-TN-09).
“Despite our fervent hopes, the movement of good American jobs overseas continues,” said Rep. Pascrell. “We need to brandish every tool in our toolbox to staunch the flow of employment from our shores and to incentivize companies to produce more goods at home. By creatively using our tax laws, we can reward companies that return work and production to America while simultaneously closing loopholes that absurdly pay firms to ship jobs and production overseas. In short, we can use the tax code to bring jobs home and that is exactly what my legislation will do.”
Key provisions of Rep. Pascrell’s Bring Jobs Home Act