S. 2139

Referred to Committee

American Business for American Companies Act of 2019

Introduced 7/17/2019•116th Congress•Senate

Congress.gov

Latest Action

Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (text: CR S4909-4911)

7/17/2019 • Senate

Summary

American Business for American Companies Act of 2019

This bill prohibits an executive agency from awarding a contract for the procurement of property or services (including a defense contract) to (1) any foreign incorporated entity determined to be an inverted domestic corporation or any subsidiary of such entity, or (2) any joint venture more than 10% of which is held by such an entity or subsidiary. An inverted domestic corporation is a company that was previously incorporated in the United States or was a partnership in the United States but is now incorporated in a foreign country despite (1) a majority of the company being owned by the owners of the former domestic entity, or (2) management of the company primarily occurring in the United States.

Introduced in Senate • 7/17/2019

Enter your district to see how this bill affects your community

Topics & Subjects

Policy Area: Government Operations and Politics

Administrative law and regulatory proceduresCorporate finance and managementDepartment of the TreasuryForeign and international corporationsMilitary procurement, research, weapons developmentPublic contracts and procurement