WASHINGTON –Today, Senator Bernie Moreno (R-Ohio) introduced the Halting International Relocation of Employment Act, or HIRE Act, to protect American workers from outsourcing by disincentivizing U.S. companies from chasing cheaper wages and hiring foreign workers. The legislation will impose a tax on any company that employs foreign labor instead of Americans and will use the generated revenue to fund workforce development programs to help the middle-class.
“While college grads in America struggle to find work, globalist politicians and C-Suite executives have spent decades shipping good-paying jobs overseas in pursuit of slave wages and immense profits – those days are over,” said Moreno. “It’s time to fight for working class Americans and ensure they can work and retire with dignity. If companies want to hire foreign workers instead of Americans, my bill will hit them where it hurts: their pocketbooks.”
The HIRE Act:
- Creates a 25% tax on outsourcing payments, defined as any money paid by a U.S. company or taxpayer to a foreign person whose work benefits consumers in the United States.
- Creates a “Domestic Workforce Fund” to collect any money raised from the outsourcing tax, which is used to support apprenticeships and workforce development programs.
- Prohibits companies from deducting any outsourcing payments.
Moreno’s bill to protect American workers comes after he led the effort to implement strict penalties on executives that hire illegal immigrants.
Read the full bill HERE.