Ohio senator introduces 25% tax on companies that outsource jobs overseas
4 days ago
- #legislation
- #outsourcing
- #jobs
- Ohio Senator Bernie Moreno introduces the 'HIRE Act' to penalize companies outsourcing jobs overseas.
- The bill imposes a 25% tax on outsourcing payments and requires full disclosure of such payments.
- Prohibits companies from deducting outsourcing payments and uses penalty funds to support U.S. apprenticeship programs.
- Includes anti-abuse measures to prevent tax avoidance via U.S. territories.
- Aims to protect American jobs and support workforce development programs.
- Moreno criticizes globalist politicians and executives for shipping jobs overseas.
- Trump administration highlights growth in American-born jobs and decline in foreign-born jobs.