Legislative Proposal for a New Bill
Bill: The American Jobs Repatriation Act
BE IT ENACTED BY CONGRESS
PREAMBLE: Whereas the Federal Government asked the US taxpayers to help bail out mortgage giants and rescue American banks from a mortgage crisis for $317 billion dollars, yet these government sponsored entities (GSEs) continue to send work to service providers that openly move jobs overseas. The housing crisis has had an undesirable effect: it has given additional dollars through government contracts to companies that have not shown a commitment to keep those jobs and those dollars on American soil. First American and Fidelity offshore jobs, citing cost savings and other financial benefits, to countries like India. While it may be possible for First American and Fidelity to find less expensive labor overseas, all GSEs must disclose how those savings are passed on to the buyer or seller.
SECTION 1: The goal of this bill is to keep jobs in the US by requiring GSEs like Fannie Mae and Freddie Mac to commit to contracts with companies striving to keep jobs in the US and bring jobs that have been sent overseas back onto American shores with American companies.
SECTION 2: This act may be cited as, “American Jobs Repatriation Act.”
SECTION 3: Effective immediately, all GSEs must cease and desist allowing their preferred providers to send work overseas thereby taking American jobs and outsourcing them. GSEs like Fannie Mae and Freddie Mac must, as long as the work is available to be done at an equal or lower cost to the GSE, and provided the same level of quality, give government contracts to companies that work exclusively with American-made products and utilize American workers on American soil.
SECTION 4: Anything short of a public vetting of offers will be considered a breach of this act. There must be strong emphasis placed on not allowing government agencies to work with companies that outsource jobs.
SECTION 5: Companies who have returned jobs from overseas to American soil (re-shoring) shall be recognized. These companies can include manufacturers, service providers, software and hardware companies.
SECTION 6: This bill shall go into effect 91 days after passage.
What do you think? Help us shape this bill so we can represent the real estate industry voices to ensure that we are all working together to build a stronger America and a stronger industry. What else would you like to see in this bill?