House Committee Advances Rep. Axne's Outsourcing Accountability Act
WASHINGTON – U.S. Rep. Cindy Axne’s (IA-03) legislation to hold corporations accountable for outsourcing American jobs passed the House Financial Services Committee and now heads to the House floor for consider. By requiring corporations to disclose where their jobs are located, the Outsourcing Accountability Act will shed light on the prevalence of outsourcing and make it harder for companies to deceive workers whose jobs have been shipped overseas.
“Corporations are shipping jobs overseas to protect their bottom line, then deceiving the public to protect their image. My legislation protects hardworking Iowans,” said Congresswoman Axne, a member of the House Financial Services Committee. “The Outsourcing Accountability Act will increase transparency on corporate outsourcing to give Iowans the information they need to make informed decisions about supporting companies that support Iowa jobs.”
The bill would require publicly-traded companies to disclose where employees are located – by U.S. state and country – in their annual report. Currently, publicly-traded companies are not required to list where their employees are located, making it easy for corporations to hide when they ship American jobs overseas. Additionally, the legislation would help ensure workers have access to Trade Adjustment Assistance (TAA), a program that provides American workers with support and training if they can certify that they were laid off due to outsourcing.