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House Passes Bill on Outsourcing Reporting

By Stephen Barlas
January 1, 2020
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In October 2019, the U.S. House of Representatives passed The Outsourcing Accountability Act of 2019 (H.R. 3624), which would require the disclosure of the total number of domestic and foreign employees of certain public companies.

 

Currently, the U.S. Securities & Exchange Commission (SEC) requires publicly traded companies to disclose certain information about their employees, including the total number of employees and anticipated changes in the number of employees working in different corporate departments. But companies aren’t required to publicly disclose where employees are based.

 

The bill passed the House by a near-party-line vote of 226-184. Two Republicans voted for the bill, while 12 Republicans didn’t vote. That will make it difficult for the bill to pass in the Republican-controlled Senate, where the bill has been introduced by a number of Democrats including Gary Peters (D.-Mich.), who first introduced the bill in 2012.

 

Stephen Barlas has covered Washington, D.C., for trade and professional magazines since 1981 and since 1984 for Strategic Finance and its predecessor Management Accounting. You can reach him at sbarlas@verizon.net.
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