Tim Burchett (R-TN)
Financial Services Customer Support Onshoring Act
A Republican bill with no cosponsors
Last activity — Referred to the House Committee on Ways and Means.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill is known as the Financial Services Customer Support Onshoring Act. It creates a new tax credit for eligible banks that move customer support and banking-related services from outside the United States back into the country. The tax credit covers a percentage of qualified wages paid to employees and facility expenditures made for this relocation under a written plan. There are specific dollar limits placed on the amount of credit a taxpayer can claim for wages and facility expenditures over time. The changes made by this bill apply to taxable years beginning after December 31, 2026.
Yes· 3 of 9
- Scored +5
Is this likely to create jobs?
The bill establishes a tax credit for eligible banks that move customer support and banking-related services back to the United States, encouraging domestic job creation.
- Scored +4
Would business owners be better off under this?
Eligible banks and financial institutions receive specific tax credits for relocating customer support services and facilities to the United States.
- Scored +3
Would people in their twenties and thirties be better off under this?
Young adults entering the workforce may benefit from new domestic customer service and banking job opportunities created by onshoring incentives.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Encouraging domestic jobs: Under section 2 adding new Section 45BB(a)(1) and Section 45BB(c), eligible taxpayers can receive a credit of 25 percent of qualified onshoring wages paid to employees who perform banking-related services directly for customers while located in the United States. This could benefit everyday people by bringing customer service and banking jobs back to the United States.
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Investing in domestic facilities: Under section 2 adding new Section 45BB(a)(2) and Section 45BB(d), taxpayers can receive a credit of 20 percent for qualified onshoring facility expenditures used for constructing, improving, or acquiring real or personal property located in the United States for banking-related services. This could result in physical investments and infrastructure improvements within our communities.
Potential Negative Impacts for People
- Tax credits for banks: The text of the bill does not explicitly mention any negative consequences or burdens for individuals or groups of people, but holding our officials accountable means watching out for tax breaks given specifically to banks under Section 45BB(f) when everyday taxpayers might carry other tax burdens.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — Eligible banks and financial institutions receive specific tax credits for relocating customer support services and facilities to the United States. Would people in middle age be better off under this? — Middle-aged workers seeking employment may gain access to newly created domestic banking and customer support positions. Would people in their twenties and thirties be better off under this? — Young adults entering the workforce may benefit from new domestic customer service and banking job opportunities created by onshoring incentives. Would households on low incomes be better off under this? — Increased domestic hiring for customer support roles could provide employment opportunities for individuals seeking entry-level work. Would middle-income households be better off under this? — Middle-income workers may benefit from expanded domestic employment opportunities in the banking sector. Would veterans be better off under this, taking everything together? — Veterans looking for civilian employment may benefit from the creation of new domestic customer service and banking jobs.
- Economy And Finance
- Is this likely to create jobs? — The bill establishes a tax credit for eligible banks that move customer support and banking-related services back to the United States, encouraging domestic job creation. Is this likely to grow the economy? — Providing tax incentives for domestic facility investments and onshoring banking services may modestly boost domestic economic activity.
- Environment Energy And Infrastructure
- Does this invest in rural communities? — Tax incentives for facility expenditures may encourage physical investments and infrastructure improvements across various domestic locations.
- 10/19/2026
- Referred to the House Committee on Ways and Means.
- Introduced in House