Rep. McNerney Calls for Greater Transparency to Stop Outsourcing of American Jobs Overseas

Press Release

Continuing his efforts to boost job growth locally and across the United States, Congressman Jerry McNerney (CA-09) today pushed forward a legislative package that targets existing tax loopholes that encourage shipping jobs overseas and provides greater transparency of corporations that regularly outsource American jobs. The legislation would also levy stronger penalties against businesses that falsify information on their outsourcing activity when applying for government contracts, and also for any illegal transactions businesses engage in that involve "tax havens" in foreign countries.

"We should not continue providing incentives that make it easy for American companies to ship jobs overseas at a time when good-paying jobs are still difficult to come by here at home, and hardworking people are still getting back on their feet. With this legislation, I want to shine a light on these abusive loopholes that result in corporations sending jobs abroad instead of making those jobs available locally to help build a strong middle class," said Rep. McNerney. "When companies outsource jobs they are choosing to invest in the economies of other countries at the expense of the American worker, and this puts our economy at a competitive disadvantage."

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"Many consumers want to buy products, goods, and services from companies that put American workers first, and I believe one way to encourage that investment in our economy is to make a company's outsourcing behavior publicly available. The Outsourcing Accountability Act not only provides transparency for those consumers, it informs interested stakeholders about important business practices, and serves to make the public aware of the corporate tax loopholes that are costing Americans the jobs that provide a decent living wage," said Rep. McNerney.

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