Pascrell Reintroduces Bring Jobs Home Act
President Biden’s American Jobs plan includes Pascrell incentives for job creators
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. The legislation is sponsored by Reps. Pascrell, Tom Suozzi (D-NY-03), Eleanor Holmes Norton (D-DC), Julia Brownley (D-CA-26), and Eric Swalwell (D-CA-15).
“The continued shipping of jobs overseas ruins families, cripples our economy, entrenches regional imbalance, and saps American morale. Realizing our full promise as a nation demands we bring jobs home,” said Rep. Pascrell. “Using our tax code is a long-hidden key to unlocking this problem and returning jobs home. This legislation will incentivize reward companies that bring their production back to U.S. shores while simultaneously close those loopholes that pay unscrupulous firms to send jobs overseas. I am gratified key elements of our bill are included in President Biden’s landmark American Jobs Plan. Together they are a roadmap to bringing jobs home.”
Key provisions of Rep. Pascrell’s Bring Jobs Home Act