Here’s the corrected HTML code for the article:

Outsourcing has become a common practice for many businesses in recent years. While it can be cost-effective in certain situations, outsourcing can also have negative consequences on the American economy.

1. Job Losses

One of the most significant negative impacts of outsourcing is the loss of jobs in the United States. When companies outsource their operations to countries with lower labor costs, they often do so by letting go of American workers who would otherwise be employed in those operations.

2. Decreased Tax Revenue

Another negative impact of outsourcing is decreased tax revenue for the United States. When companies outsource their operations, they often move to countries where taxes are lower or nonexistent. This can lead to a reduction in the amount of tax revenue that the US government collects from these businesses.

3. Reduced Innovation

Outsourcing can also lead to reduced innovation in the American economy. When companies outsource their operations, they often do so for cost reasons rather than quality or expertise. This means that companies may sacrifice innovation and creativity in order to cut costs.

4. Reduced Skill Development

Another negative impact of outsourcing is reduced skill development in the American workforce. When companies outsource their operations, they often do so by hiring workers who have the skills and expertise needed to perform those operations. This means that American workers who would otherwise be employed in those operations are not given the opportunity to develop their skills and expertise.

5. Increased Environmental Impact

Finally, outsourcing can also lead to an increase in the environmental impact of businesses. When companies outsource their operations to countries with lower environmental standards, they may be able to cut costs by using cheaper and less environmentally friendly materials or practices. This can result in increased pollution and other negative environmental impacts.

In conclusion, outsourcing can have significant negative consequences on the American economy. While it can be cost-effective in certain situations, companies must carefully consider the potential risks and drawbacks before deciding to outsource their operations. By doing so, they can help to ensure that the American economy remains strong and resilient for generations to come.