Search Results: keywords:"inverted domestic corporations"

  • S. 4547 — To prohibit the award of Federal Government contracts to inverted domestic corporations, and for other purposes.
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    Status:Introduced in Senate
    Words:3,467

    S. 4547 aims to ban the U.S. federal government from awarding contracts to "inverted domestic corporations," which are companies that move their headquarters overseas while maintaining control in the U.S. These restrictions apply to both civilian and defense contracts, and...

    Simple Explanation

    S. 4547 is a rule that stops the U.S. government from giving money to companies that pretend they're from another country but still mainly work in America, unless there's a really good reason like national security.

  • H. R. 8727 — To prohibit the award of Federal Government contracts to inverted domestic corporations, and for other purposes.
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    Status:Introduced in House
    Words:3,479

    H.R. 8727, known as the “American Business for American Companies Act of 2024,” is a bill that seeks to prevent inverted domestic corporations from receiving U.S. government contracts. An inverted domestic corporation is defined as a foreign company that has acquired a U.S. company but still...

    Simple Explanation

    The bill wants to make sure that only companies truly based in the U.S. can get big government jobs, so it says no to companies that pretend to be American but are actually controlled from another country. There are some special rules for things like when it matters for safety or health, but those have to be shared with Congress, like telling on someone.