An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Excise Tax

A special tax placed on specific goods, services, or activities, rather than on general income or property.

Outsourcing Payment

A payment made by a U.S. business to a foreign person or company for labor or services that are ultimately used by customers in the United States.

Foreign Person

Any individual or entity who is not considered a U.S. person for tax purposes, excluding certain entities organized in U.S. possessions.

Domestic Workforce Fund

A special government account created to receive money from the outsourcing tax, which is then used to fund job training, education, and apprenticeship programs for American workers.

Income Tax Deduction

An expense that a taxpayer can subtract from their gross income to reduce the amount of income on which they pay taxes.

Internal Revenue Code of 1986

The main body of law that establishes U.S. federal tax rules and regulations.

Penalty of Perjury

A legal penalty for intentionally making a false statement or providing false information while under oath or affirming its truthfulness, such as on a tax document.