Senator Amy Klobuchar (D-MN) has announced the reintroduction of the Removing Incentives for Outsourcing Act together with Senators Chris Van Hollen (D-MD) and Tammy Duckworth (D-IL). Prior versions of the legislation were introduced in 2018 and 2019. The legislation, which is meant to close a loophole that encourages U.S. companies to move jobs and operations overseas in order to minimize their tax liability, is summarized in the announcement as follows:
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This legislation will work al…