I don't remember if it was Moses Maimonides or some other jewish scholar whose works I read a long time ago but one of them made the comment (and I am paraphrasing) 'Before you ask for God's help in a matter, ensure you yourself have done all you can, exhausted all attempts, and used the abilities He has given you. Then, when you ask him it will because you need him, not because you are being lazy.'
Like I said, a paraphrase but that is what I got out of the original. I think the same applies to situations like these. Before we go running to the governmental bodies (local, state, etc) we need to spend time and money in educating the public, putting pressure and boycotts on companies which farm out jobs to 'slave labor', and so on. I am not against competition, but when US companies go elsewhere for their needs, we need to let them know we will too.
The ball is in our court, we can pass it off to someone else and hope they will make the shot, or we can try it ourselves and hope that if we miss that at least the government can get the rebound.
Knowledge (who is farming out what, names, addresses, etc), organization, grass roots, can make a change. I am not against a company getting more profits, but the more work that is farmed out elsewhere the less tax dollars are kept here in the US, which does affect us all.
It goes back to Nash and game theory - 'Do what is best for yourself and others' and we can all win. When companies only do what is best for them it becomes an us v. them scenario. I am pro business, and I would like see business be pro-America as much as possible. I respect their right to make as much money as they want, but in return I expect them to respect that they are US companies and need to think of the people at home first. Sometimes foreign labor can be beneficial all the way around, other times it is sheer selfishness. Fine. I don't think we need to legislate it, I think we need to do business elsewhere than with those companies.
Question is not what the US will do about it, the question is - what will you/we do about it?