Search Results: keywords:"moving expenses deduction"

  • H. R. 8506 — To amend the Internal Revenue Code of 1986 to encourage domestic insourcing and discourage foreign outsourcing.
    Status:Introduced in House
    Words:2,499

    H.R. 8506, also known as the "Bring Jobs Home Act," aims to amend the Internal Revenue Code of 1986 to promote domestic job creation by providing a 20% tax credit for businesses that relocate jobs from abroad to the United States. It specifies eligible insourcing expenses, requiring an...

    Simple Explanation

    H.R. 8506, or the "Bring Jobs Home Act," is a plan that gives money help to companies if they move jobs back to America instead of sending them to other countries. It also stops companies from getting money help if they move jobs away from America.