Channel Insider content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

Lawmakers introduced a bill in Congress Thursday aimed to deter U.S. companies from outsourcing jobs overseas.

The Defending American Jobs Act of 2004, sponsored by more than 50 legislators, proposes to cut federal funding from companies that lay off workers at higher rates in the U.S. than abroad. The legislation would also require companies that apply for federal grants and loans to declare the salaries of employees in the U.S. and abroad, said Joel Barkin, spokesman for Rep. Bernie Sanders, I-Vt., the bill’s principle sponsor.

To read the full story, click here.