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Corporations Would Report Foreign Job Moves in House-Passed Bill

Oct. 18, 2019, 6:08 PM

Legislation designed to monitor publicly traded companies’ relocation of jobs overseas was passed by the House Oct. 18.

The bill (H.R. 3624), introduced by Rep. Cindy Axne (D-Iowa), would require companies to annually disclose the number of employees, listed by U.S. state, territory or foreign country, and to show how the numbers changed from the previous year.

The “Outsourcing Accountability Act of 2019" would apply to publicly traded companies that file annual reports under the 1934 Securities Exchange Act. Companies subject to the measure also would have to list employees who work for their subsidiaries.

Lawmakers voted 226-184...

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