Update: Outsourcing Accountability Act Voted Down; Call Center Legislation Gains Support

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[author: Steve Semerdjian]
The House of Representatives March 8, 2012, voted down the Outsourcing Accountability Act of 2012 (HR 3875) by a vote of 230 to 175. The bill, originally introduced by Rep. Gary Peters (D-Mich.), would have amended federal securities law to require public companies with revenues of more than $1 billion to disclose, in their annual filings, employment numbers by U.S. and foreign (by country) jurisdictions. Currently, public companies are required to disclose total employment numbers without any jurisdictional breakdown. Read our blog post on the Outsourcing Accountability Act here. The bill, along with others, had been added as an amendment to H.R. 3606, the Jumpstart Our Business Startups (JOBS), legislation intended to encourage the creation of American jobs.

In contrast, the U.S. Call Center and Consumer Protection Act (HR 3596), introduced in December 2011 by Reps. Timothy Bishop (D-N.Y.) and David McKinley (R-W.V.), has gained support in the House, and now has a reported 77 co-sponsors, including five republicans. The bill would, among other things, make companies that relocate call centers overseas ineligible for federal grant or guaranteed loan programs for five years. Read our blog post on the U.S. Call Center and Consumer Protection Act here.

Published In: Administrative Agency Updates, Business Organization Updates, Elections & Politics Updates, Labor & Employment Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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