Urges Congress and President to enact legislation which prohibits awarding federal contracts to inverted domestic corporations.

New Jersey's Senate Concurrent Resolution 87 urges Congress and the President to pass legislation banning federal contracts with "inverted domestic corporations." These are U.S. companies that moved their legal headquarters overseas (e.g., to Ireland) to avoid higher U.S. tax rates (up to 26% combined state/local vs. 12.5% abroad), a practice critics say costs the U.S. economy. The resolution itself has no legal force but calls for federal law prohibiting such contracts, with possible national security waivers. It directly affects companies that restructure to operate under foreign tax regimes, not individual citizens or states. The resolution references ongoing federal legislative efforts to address this tax avoidance tactic.