HIRE Act passes by 2026
4
100Ṁ226Dec 31
21%
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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.
Something nearly equal that gets approved will also resolve this as YES, even if it's not proposed by the same person or is known by the same name.
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