Bring Jobs Home Act

HR 8506, the "Bring Jobs Home Act," creates a 20% tax credit for corporations that move business operations back to the U.S. from overseas. It directly affects companies relocating business units (like factories or offices) by allowing them to claim credits for eligible costs such as permits, equipment installation, and lease fees, but not severance pay. The bill also denies tax deductions for expenses related to moving jobs overseas (outsourcing), requiring companies to show increased U.S. employment compared to pre-relocation levels to qualify for the credit. Additionally, it mandates Treasury payments to U.S. territories like Puerto Rico and Guam to offset lost tax revenue from the credit.