The big picture: Senator Bernie Moreno introduced the 2025 HIRE Act, proposing a 25% excise tax on payments for outsourced services benefiting US consumers and banning their deductibility. The bill aims to fund domestic workforce development programs.

Why it matters: This legislation, if enacted, would significantly increase costs for US companies relying on international services, impacting their operational budgets and global talent strategies.

Between the lines:

• The HIRE Act includes a 25% excise tax on