S. 2569Senate113th Congress (2013-2015)Introduced

Bring Jobs Home Act

Introduced July 8, 2014

Legislative Activity

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16 earlier actions
SenateFloor Latest Action

Cloture on the measure not invoked in Senate by Yea-Nay Vote. 54 - 42. Record Vote Number: 249. (consideration: CR S5082-5083; text: CR S5082)

July 30, 2014

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SenateIntro Referral

Introduced in Senate

July 8, 2014

SenateCalendars

Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

July 8, 2014

SenateCalendars

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 453.

July 9, 2014

SenateFloor

Motion to proceed to consideration of measure made in Senate. (consideration: CR S4571, S4595, S4599, S4599-4601)

July 17, 2014

SenateFloor

Motion to proceed to consideration of measure made in Senate. (consideration: CR S4637; text: CR S4637)

July 21, 2014

SenateFloor

Cloture motion on the motion to proceed to the measure presented in Senate. (consideration: CR S4650; text: CR S4650)

July 21, 2014

SenateFloor

Motion to proceed to consideration of measure made in Senate. (consideration: CR S4667)

July 22, 2014

SenateFloor

Motion to proceed to measure considered in Senate. (consideration: CR S4723-44728, S4728-4753)

July 23, 2014

SenateFloor

Cloture on the motion to proceed to the measure invoked in Senate by Yea-Nay Vote. 93 - 7. Record Vote Number: 240. (consideration: CR S4728; text: CR S4728)

July 23, 2014

SenateFloor

Motion to proceed to measure considered in Senate. (consideration: CR S4853, S4876)

July 24, 2014

SenateFloor

Motion to proceed to consideration of measure agreed to in Senate by Voice Vote. (consideration: CR S4876)

July 24, 2014

SenateFloor

Measure laid before Senate by motion. (consideration: CR S4876)

July 24, 2014

SenateFloor

Considered by Senate. (consideration: CR S4988-4993)

July 28, 2014

SenateFloor

Motion by Senator Reid to commit to Senate Committee on Finance with instructions to report back forthwith with the following amendment (SA 3695) made in Senate. (consideration: CR S4988)

July 28, 2014

SenateFloor

Cloture motion on the measure presented in Senate. (consideration: CR S4988; text: CR S4988)

July 28, 2014

SenateFloor

Considered by Senate. (consideration: CR S5075-5076, S5076-5077, S5080, S5081-5083)

July 30, 2014

SenateFloor

Cloture on the measure not invoked in Senate by Yea-Nay Vote. 54 - 42. Record Vote Number: 249. (consideration: CR S5082-5083; text: CR S5082)

July 30, 2014

Floor Debate

19 members

What members said about S. 2569 on the floor

9 Republicans9 Democrats1 Independent
Harry Reid
Sen. Harry ReidD-NV · Jul 17, 2014

Mr. President, I now move to proceed to Calendar No. 453, S. 2569, the Bring Jobs Home Act. Mr. President, following my remarks and those of the Republican leader, the Senate will proceed to the…

Chuck Grassley
Sen. Chuck GrassleyR-IA · Jul 24, 2014

Madam President, similar to my colleague from Maryland, I come to the floor to discuss the nomination of Professor Pamela Harris to the Fourth Circuit. I come for another reason, to give my reasons…

John Cornyn
Sen. John CornynR-TX · Jul 30, 2014

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I wish to make some remarks about the ongoing humanitarian crisis that is occurring on our…

Harry Reid
Sen. Harry ReidD-NV · Jul 21, 2014

Mr. President, I move to proceed to Calendar No. 453, the Bring Jobs Home Act. Mr. President, following my remarks and those of the Republican leader, the Senate will be in a period of morning…

John Cornyn
Sen. John CornynR-TX · Jul 24, 2014

Mr. President, there is no question that immigration is one of the toughest, most divisive issues we talk about in Washington, DC, perhaps because it is an economic issue, it involves cultural…

Show 8 more
Maria Cantwell
Sen. Maria CantwellD-WA · Jul 24, 2014

Madam President, I ask unanimous consent that the order for the quorum call be rescinded. Madam President, I join my colleague from Washington who was just on the floor to take a moment to recognize…

Roy Blunt
Sen. Roy BluntR-MO · Jul 23, 2014

Madam President, I ask unanimous consent that the order for the quorum call be rescinded. Madam President, I wish to speak for a few minutes and start by talking about these court cases yesterday…

John Thune
Sen. John ThuneR-SD · Jul 24, 2014

Madam President, I ask unanimous consent that the order for the quorum call be rescinded. Madam President, I rise today to speak in opposition to the legislation pending before the Senate, the…

Thomas R. Carper
Sen. Thomas R. CarperD-DE · Jul 21, 2014

Mr. President, before the Senator from Tennessee leaves, I wish to thank him very much for joining Senator Boxer and me in this Senate to create a dynamic that will enable us to do our job. He shows…

Ted Cruz
Sen. Ted CruzR-TX · Jul 21, 2014

Mr. President, I rise to discuss the ongoing crisis in Venezuela. With so many crises happening around the globe these days, political turmoil in Venezuela has slipped from the headlines and…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Jul 23, 2014

I listened carefully as the Republican leader came to the floor to talk about the Senate issues, and he failed to mention this issue, S. 2569, which we will be voting on in 1 hour and 10 minutes. In…

Bernard Sanders
Sen. Bernard SandersI-VT · Jul 24, 2014

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, on June 11--a month and a half ago--in a very strong bipartisan way, the Senate voted 93 to…

Dean Heller
Sen. Dean HellerR-NV · Jul 24, 2014

Mr. President, I rise today to discuss the current bill before this body, the Bring Jobs Home Act. At a time when Washington is stuck in political gridlock, I believe Democrats and Republicans should…

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Tim Kaine
Sen. Tim KaineD-VA · Jul 24, 2014

Madam President, I have got a deal for you: Let's create American jobs, let's help American businesses find customers abroad, and let's do it at no cost to the American taxpayer. I rise to speak…

Jack Reed
Sen. Jack ReedD-RI · Jul 24, 2014

I request unanimous consent to speak as in morning business. I wish to support the short-term reauthorization of our national surface transportation law. It is urgent that we keep the highway trust…

Barbara Boxer
Sen. Barbara BoxerD-CA · Jul 21, 2014

Mr. President, I am very proud to be on the floor this evening with colleagues for whom I have a great deal of respect. We have been working so hard across party lines to call the Nation's attention…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Jul 21, 2014

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I rise to address the horrific series of events which have occurred in Eastern Ukraine within…

David Vitter
Sen. David VitterR-LA · Jul 24, 2014

Mr. President, I rise again on the Senate floor to talk about the crisis at our southern border, and it is a crisis. I don't use that word lightly, but it is clearly a crisis on many levels. This…

Benjamin L. Cardin
Sen. Benjamin L. CardinD-MD · Jul 24, 2014

Mr. President, shortly we will have the opportunity to vote on a cloture motion on Pamela Harris for confirmation to the U.S. Court of Appeals for the Fourth Circuit, which includes Maryland. I urge…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Jul 30, 2014

I am going to be joined shortly on the floor by Senator John Walsh of Montana and Senator Debbie Stabenow of Michigan, who are going to speak to the bill that is pending before us. Until they arrive…

Bob Corker
Sen. Bob CorkerR-TN · Jul 21, 2014

Mr. President, I thank the leader for her comments and her ability to build consensus around the reauthorization as she did in the committee. This is the fifth time since 2008--I have been here since…

Mitch McConnell
Sen. Mitch McConnellR-KY · Jul 22, 2014

Mr. President, later today the President will sign a bipartisan workforce training bill into law. It is commonsense legislation that will help my constituents gain new skills to become more…

Mark  Begich
Sen. Mark Begich D-AK · Jul 24, 2014

I say to my chairman on the Veterans' Affairs Committee, we talked very briefly on the phone. I wanted to come down here because I find this amazing. I am new around here. I know it has been almost 6…

Harry Reid
Sen. Harry ReidD-NV · Jul 22, 2014

Mr. President, I move to proceed to Calendar No. 453, S. 2569. Mr. President, following my remarks and those of the Republican leader, the Senate will be in a period of morning business, with…

Bill Text

Latest available legislative text

Reading Mode
Latest
Placed on Calendar SenateIssued July 9, 2014

II

Calendar No. 453

113th CONGRESS

2d Session

S. 2569

IN THE SENATE OF THE UNITED STATES

July 8, 2014

Mr. Walsh (for himself, Ms. Stabenow, Mr. Pryor, Mr. Warner, Mr. Udall of Colorado, Mr. Udall of New Mexico, Mrs. Shaheen, Mrs. Hagan, Mr. Coons, Mr. Reed, Mr. Durbin, Mr. Merkley, Mr. Franken, Mr. Markey, Mr. Schatz, Mr. Rockefeller, Mr. Whitehouse, Ms. Baldwin, Mr. Blumenthal, Ms. Klobuchar, Mrs. McCaskill, and Mr. Schumer) introduced the following bill; which was read the first time

July 9, 2014

Read the second time and placed on the calendar

A BILL

To provide an incentive for businesses to bring jobs back to America.

1.

Short title

This Act may be cited as the Bring Jobs Home Act.

2.

Credit for insourcing expenses

(a)

In general

Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

45S.

Credit for insourcing expenses

(a)

In general

For purposes of section 38, the insourcing expenses credit for any taxable year is an amount equal to 20 percent of the eligible insourcing expenses of the taxpayer which are taken into account in such taxable year under subsection (d).

(b)

Eligible insourcing expenses

For purposes of this section—

(1)

In general

The term eligible insourcing expenses means—

(A)

eligible expenses paid or incurred by the taxpayer in connection with the elimination of any business unit of the taxpayer (or of any member of any expanded affiliated group in which the taxpayer is also a member) located outside the United States, and

(B)

eligible expenses paid or incurred by the taxpayer in connection with the establishment of any business unit of the taxpayer (or of any member of any expanded affiliated group in which the taxpayer is also a member) located within the United States,

if such establishment constitutes the relocation of the business unit so eliminated. For purposes of the preceding sentence, a relocation shall not be treated as failing to occur merely because such elimination occurs in a different taxable year than such establishment.
(2)

Eligible expenses

The term eligible expenses means—

(A)

any amount for which a deduction is allowed to the taxpayer under section 162, and

(B)

permit and license fees, lease brokerage fees, equipment installation costs, and, to the extent provided by the Secretary, other similar expenses.

Such term does not include any compensation which is paid or incurred in connection with severance from employment and, to the extent provided by the Secretary, any similar amount.
(3)

Business unit

The term business unit means—

(A)

any trade or business, and

(B)

any line of business, or functional unit, which is part of any trade or business.

(4)

Expanded affiliated group

The term expanded affiliated group means an affiliated group as defined in section 1504(a), determined without regard to section 1504(b)(3) and by substituting more than 50 percent for at least 80 percent each place it appears in section 1504(a). A partnership or any other entity (other than a corporation) shall be treated as a member of an expanded affiliated group if such entity is controlled (within the meaning of section 954(d)(3)) by members of such group (including any entity treated as a member of such group by reason of this paragraph).

(5)

Expenses must be pursuant to insourcing plan

Amounts shall be taken into account under paragraph (1) only to the extent that such amounts are paid or incurred pursuant to a written plan to carry out the relocation described in paragraph (1).

(6)

Operating expenses not taken into account

Any amount paid or incurred in connection with the on-going operation of a business unit shall not be treated as an amount paid or incurred in connection with the establishment or elimination of such business unit.

(c)

Increased domestic employment requirement

No credit shall be allowed under this section unless the number of full-time equivalent employees of the taxpayer for the taxable year for which the credit is claimed exceeds the number of full-time equivalent employees of the taxpayer for the last taxable year ending before the first taxable year in which such eligible insourcing expenses were paid or incurred. For purposes of this subsection, full-time equivalent employees has the meaning given such term under section 45R(d) (and the applicable rules of section 45R(e)). All employers treated as a single employer under subsection (b), (c), (m), or (o) of section 414 shall be treated as a single employer for purposes of this subsection.

(d)

Credit allowed upon completion of insourcing plan

(1)

In general

Except as provided in paragraph (2), eligible insourcing expenses shall be taken into account under subsection (a) in the taxable year during which the plan described in subsection (b)(5) has been completed and all eligible insourcing expenses pursuant to such plan have been paid or incurred.

(2)

Election to apply employment test and claim credit in first full taxable year after completion of plan

If the taxpayer elects the application of this paragraph, eligible insourcing expenses shall be taken into account under subsection (a) in the first taxable year after the taxable year described in paragraph (1).

(e)

Possessions treated as part of the United States

For purposes of this section, the term United States shall be treated as including each possession of the United States (including the Commonwealth of Puerto Rico and the Commonwealth of the Northern Mariana Islands).

(f)

Regulations

The Secretary shall prescribe such regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section.

.

(b)

Credit To be part of general business credit

Subsection (b) of section 38 of such Code is amended by striking plus at the end of paragraph (35), by striking the period at the end of paragraph (36) and inserting , plus, and by adding at the end the following new paragraph:

(37)

the insourcing expenses credit determined under section 45S(a).

.

(c)

Clerical amendment

The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item:

.

(d)

Effective date

The amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this Act.

(e)

Application to United States possessions

(1)

Payments to possessions

(A)

Mirror code possessions

The Secretary of the Treasury shall make periodic payments to each possession of the United States with a mirror code tax system in an amount equal to the loss to that possession by reason of section 45S of the Internal Revenue Code of 1986. Such amount shall be determined by the Secretary of the Treasury based on information provided by the government of the respective possession.

(B)

Other possessions

The Secretary of the Treasury shall make annual payments to each possession of the United States which does not have a mirror code tax system in an amount estimated by the Secretary of the Treasury as being equal to the aggregate benefits that would have been provided to residents of such possession by reason of section 45S of such Code if a mirror code tax system had been in effect in such possession. The preceding sentence shall not apply with respect to any possession of the United States unless such possession has a plan, which has been approved by the Secretary of the Treasury, under which such possession will promptly distribute such payment to the residents of such possession.

(2)

Coordination with credit allowed against united states income taxes

No credit shall be allowed against United States income taxes under section 45S of such Code to any person—

(A)

to whom a credit is allowed against taxes imposed by the possession by reason of such section, or

(B)

who is eligible for a payment under a plan described in paragraph (1)(B).

(3)

Definitions and special rules

(A)

Possessions of the United States

For purposes of this section, the term possession of the United States includes the Commonwealth of Puerto Rico and the Commonwealth of the Northern Mariana Islands.

(B)

Mirror code tax system

For purposes of this section, the term mirror code tax system means, with respect to any possession of the United States, the income tax system of such possession if the income tax liability of the residents of such possession under such system is determined by reference to the income tax laws of the United States as if such possession were the United States.

(C)

Treatment of payments

For purposes of section 1324(b)(2) of title 31, United States Code, the payments under this section shall be treated in the same manner as a refund due from sections referred to in such section 1324(b)(2).

3.

Denial of deduction for outsourcing expenses

(a)

In general

Part IX of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

280I.

Outsourcing expenses

(a)

In general

No deduction otherwise allowable under this chapter shall be allowed for any specified outsourcing expense.

(b)

Specified outsourcing expense

For purposes of this section—

(1)

In general

The term specified outsourcing expense means—

(A)

any eligible expense paid or incurred by the taxpayer in connection with the elimination of any business unit of the taxpayer (or of any member of any expanded affiliated group in which the taxpayer is also a member) located within the United States, and

(B)

any eligible expense paid or incurred by the taxpayer in connection with the establishment of any business unit of the taxpayer (or of any member of any expanded affiliated group in which the taxpayer is also a member) located outside the United States,

if such establishment constitutes the relocation of the business unit so eliminated. For purposes of the preceding sentence, a relocation shall not be treated as failing to occur merely because such elimination occurs in a different taxable year than such establishment.
(2)

Application of certain definitions and rules

(A)

Definitions

For purposes of this section, the terms eligible expenses, business unit, and expanded affiliated group shall have the respective meanings given such terms by section 45S(b).

(B)

Operating expenses not taken into account

A rule similar to the rule of section 45S(b)(6) shall apply for purposes of this section.

(c)

Special rules

(1)

Application to deductions for depreciation and amortization

In the case of any portion of a specified outsourcing expense which is not deductible in the taxable year in which paid or incurred, such portion shall neither be chargeable to capital account nor amortizable.

(2)

Possessions treated as part of the United States

For purposes of this section, the term United States shall be treated as including each possession of the United States (including the Commonwealth of Puerto Rico and the Commonwealth of the Northern Mariana Islands).

(d)

Regulations

The Secretary shall prescribe such regulations or other guidance as may be necessary or appropriate to carry out the purposes of this section, including regulations which provide (or create a rebuttable presumption) that certain establishments of business units outside the United States will be treated as relocations (based on timing or such other factors as the Secretary may provide) of business units eliminated within the United States.

.

(b)

Limitation on subpart F income of controlled foreign corporations determined without regard to specified outsourcing expenses

Subsection (c) of section 952 of such Code is amended by adding at the end the following new paragraph:

(4)

Earnings and profits determined without regard to specified outsourcing expenses

For purposes of this subsection, earnings and profits of any controlled foreign corporation shall be determined without regard to any specified outsourcing expense (as defined in section 280I(b)).

.

(c)

Clerical amendment

The table of sections for part IX of subchapter B of chapter 1 of such Code is amended by adding at the end the following new item:

.

(d)

Effective date

The amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this Act.

July 9, 2014

Read the second time and placed on the calendar