HR 7424
American Business for American Companies Act of 2026
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Bill overview
The American Business for American Companies Act of 2026 aims to protect U.S. jobs and businesses by prohibiting the federal government from awarding contracts to ‘inverted domestic corporations.’ These corporations, formed through complex financial transactions, can shift profits to lower-tax jurisdictions. The bill would restrict the awarding of contracts to these entities and their subsidiaries, as well as joint ventures with significant foreign ownership, and establish a process for waivers in specific circumstances. It also extends this prohibition to defense contracts.
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