HIRE Act

This bill would add a 25% tax on payments that U.S. businesses make to people or companies in other countries for work or services that benefit American consumers, which the bill calls "outsourcing payments." Businesses would also not be allowed to claim tax deductions for those payments. The IRS could require businesses to report these payments, and there would be penalties for not reporting or not paying the tax. The money collected from the tax and penalties would go into a new fund called the Domestic Workforce Fund, which would pay for job training programs, apprenticeships, and grants to help communities where many jobs have been lost to outsourcing.

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