U.S. Rep. Gary Peters' "Outsourcing Accountability Act" to Receive House Vote as an Amendment

Press Release

Today U.S. Rep. Gary Peters announced that his previously introduced Outsourcing Accountability Act is expected to be debated and voted on tomorrow as an amendment to H.R. 3606, a bipartisan bill designed to incentivize the creation of American jobs. If signed into law, the Peters Outsourcing Accountability Amendment would create new levels of transparency on outsourcing and provide consumers and investors with the information they need to make an informed choice about whether they want to spend their hard earned dollars on companies that are creating new American jobs or companies that are outsourcing their work overseas.

Right now when publicly traded companies file their annual SEC reports, they are required to disclose the number of employees they have. However if a company creates 1,300 jobs overseas but eliminates 300 jobs in the United States on a given year, they can just report creating 1,000 jobs. The Peters Outsourcing Accountability Amendment would simply require these companies to disclose these same figures except they would need to breakdown the numbers by country and state in America.

Because the Peters Outsourcing Accountability Amendment would help consumers and investors make a decision about whether they want to support American jobs, it has earned the strong support of the AFL-CIO, the International Federation of Professional & Technical Engineers AFL-CIO & CLC and the Americans for Financial Reform.

"We are debating bipartisan legislation that is designed to help American companies create jobs, and my amendment would help make sure those jobs stay here in the United States," said U.S. Rep. Gary Peters. "If we give families the information they need to support companies that create American jobs, they will do it and that's why I fought to bring my Outsourcing Accountability Amendment to the floor. To grow our way out of these tough economic times, I'm committed to doing everything I can to end the outsourcing and create new good paying American jobs."

From 2000-2009, multinational corporations cut 2.9 million U.S. jobs while adding 2.4 million overseas.

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