New Bill Would Require Publicly-Held Companies to Report Overseas Employment

Employment Law, Immigration

Rep. Gary Peters (D-MI) has introduced a bill to require companies with revenue over $1 billion to report to the SEC the number of employees in the United States and overseas, along with the percentage increase or decrease in the latter from the previous year.  The Outsourcing Accountability Act of 2012 (H.R. 3875) would require the U.S. data to be broken down by each state, and similarly require country-by-country data for overseas employees.  “This is fairly easy for a company to do,” Peters said.  “They certainly have that information readily available, and I think it’d be surprising for a company to say it doesn’t know where it sends its paychecks.”  “All jobs are not created equal, and Americans deserve to know whether the jobs a company is creating are in America or overseas,” said Rep. Tim Bishop (D-NY), a cosponsor of the bill.