Senator Bernie Moreno Introduces HIRE Act to Protect American Workers from Outsourcing

Senator Bernie Moreno, a leading advocate for American workers, has introduced the Halting International Relocation of Employment Act, or HIRE Act, to safeguard the interests of domestic labor by penalizing companies that outsourced jobs to foreign workers. This legislation aims to create a level playing field for American workers by imposing a tax on companies that opt for cheaper foreign labor, thereby disincentivizing such practices.

Key Takeaways:

• The HIRE Act imposes a 25% tax on outsourcing payments, which are defined as any money paid by a U.S. company or taxpayer to a foreign person whose work benefits consumers in the United States.
• The legislation creates a "Domestic Workforce Fund" to collect the revenue generated from the outsourcing tax, which is used to support apprenticeships and workforce development programs.
• The bill prohibits companies from deducting any outsourcing payments, ensuring that businesses are held accountable for their labor practices.
• Senator Moreno's HIRE Act has been introduced in response to the trend of companies hiring foreign workers, leaving American workers struggling to find employment.
• The legislation aims to prevent companies from exploiting cheap labor in other countries, instead promoting the hiring of American workers.
• The Created Workforce Fund will be used to provide financial support to programs that help develop the skills of American workers.

Statistics:

• 25% tax on outsourcing payments, as specified in the HIRE Act legislation.
• Revenue generated from the outsourcing tax will be used to support apprenticeships and workforce development programs through the Domestic Workforce Fund.
• Created Workforce Fund will be used to provide financial support to programs that help develop the skills of American workers.

Sources:

• Office of the Senator Bernie Moreno, "Senator Bernie Moreno Introduces HIRE Act to Protect American Workers from Outsourcing"
• Senator Bernie Moreno's speech, "Speech by Moreno on the introduction of HIRE Act"