This could have a Huge impact on both NCR Companies.
Has anyone been following this?
The "HIRE Act" is a proposed U.S. bill introduced in September 2025 that aims to discourage job offshoring by imposing a 25% excise tax on payments to foreign workers. Introduced by Senator Bernie Moreno, the bill would make these payments non-deductible for U.S. companies and is intended to boost domestic employment by redirecting the resulting tax revenue into programs like worker training and apprenticeships. The bill would apply to payments for services that benefit U.S. consumers, including those to workers on various work visas like H-1B and H-2B.
Key provisions of the HIRE Act:
25% excise tax: A tax is proposed on payments made to foreign workers (those not considered U.S. persons for tax purposes).
Non-deductible expenses: Companies would not be able to claim tax deductions on payments subject to the new excise tax.
Worker visa eligibility: The tax would apply to a wide range of foreign workers, including those on immigrant and nonimmigrant visas such as F1, J1, H-1B, and H-2B.
Domestic Workforce Fund: Tax revenue from the new law would be directed to a fund to support domestic workforce development initiatives like training programs and apprenticeships for American workers.
Potential impact and context:
Reduced offshoring: The primary goal is to make it more expensive for U.S. companies to offshore jobs, thereby encouraging them to hire domestically.
Impact on outsourcing industry: The bill could create significant uncertainty and pressure for companies in the global IT outsourcing sector, particularly in countries like India, reports NDTV.
Economic effects: Supporters argue the act would protect American jobs and national security by reducing reliance on foreign labor, while some critics suggest the costs could be passed on to consumers through higher prices, notes Reddit users.