Foreign And International Corporations
US Congress 114th Congress
Corporate EXIT Fairness Act Corporate EXpatriates and Inverters Tax Fairness Act [HB-5125]
[Taxes ]
[Finance ]
[Trade ]
[International ]
[Small Business ]
[Economic Development ]
Corporate EXIT Fairness Act Corporate EXpatriates and Inverters Tax Fairness Act This bill amends the Internal Revenue Code to set forth rules governing corporate inversions (i.e., the practice of relocating a domestic corporation's legal domicile to a lower-tax nation while retaining its business activities in the higher-tax country of origin) and corporate expatriations. Specifically, the bill requires payment of tax on the deferred overseas profits of U.S. multinational corporations or partnerships before they reincorporate or organize in a foreign
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Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 04/29/2016
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In the Red Act of 2016 [HB-5106]
[Budget and Spending ]
In the Red Act of 2016
Sponsored by: Rep. Robert C. Scott
Referred To The Subcommittee On Higher Education And Workforce Training. on 09/19/2016
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Stop Corporate Earnings Stripping Act of 2016 [HB-4581]
[Taxes ]
[Finance ]
[International ]
[Trade ]
[Budget and Spending ]
[Small Business ]
[Economic Development ]
Stop Corporate Earnings Stripping Act of 2016 This bill amends the Internal Revenue Code to limit the tax deduction available to certain foreign-controlled U.S. multinational corporations for excess interest on debt incurred by such corporation (i.e., earnings stripping) by: (1) repealing the debt-to-equity ratio threshold required for such deduction, (2) reducing the permitted net interest expense threshold from 50% to 25% of the corporation's adjusted taxable income, (3) repealing the carryforward of excess amounts of interest, and (4) limiting
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Sponsored by: Rep. Bill Pascrell
Introduced In House on 02/23/2016
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American Business Competitiveness Act of 2015 [HB-4377]
[Taxes ]
[Small Business ]
[Trade ]
[Economic Development ]
American Business Competitiveness Act of 2015 This bill amends the Internal Revenue Code to: reduce the tax rate on the net business income of individual and corporate taxpayers to a maximum 25%; allow full expensing of deductible investment expenses in the current taxable year; redefine "net business income" to allow the deduction of the cost of business purchases; convert to a territorial system for taxing overseas income; apply the same tax rate to interest income of individuals that is applicable to dividends and capital gains income; and allow
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Sponsored by: Rep. Steve Russell
Introduced In House on 01/13/2016
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To impose certain requirements on the Secretary of the Treasury relating to transmittals of country-by-country reports for purposes of the Base Erosion and Profit Shifting Action Plan. [HB-4297]
[Taxes ]
[Finance ]
[Trade ]
[International ]
To impose certain requirements on the Secretary of the Treasury relating to transmittals of country-by-country reports for purposes of the Base Erosion and Profit Shifting Action Plan. This bill expressly prohibits the Department of the Treasury from collecting from a U.S. person or transmitting to any foreign jurisdiction any country-by-country report (CbCR) information of any U.S. person for taxable years beginning before January 1, 2017. CbCR information is used by the Organization for Economic Cooperation and Development to develop its Base
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Sponsored by: Rep. Charles W. Boustany
Introduced In House on 12/18/2015
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Stop Corporate Inversions Act of 2015 [HB-415]
[Taxes ]
[Finance ]
[Trade ]
[Small Business ]
[International ]
Stop Corporate Inversions Act of 2015 Amends the Internal Revenue Code to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States) to provide that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) it holds more than 50% of the stock of
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Sponsored by: Rep. Ted Lieu
Introduced In House on 01/20/2015
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Partnership to Build America Act of 2015 [HB-413]
[Infrastructure ]
[Finance ]
[Energy ]
[Telecommunications ]
[Transportation and Motor Vehicles ]
[Taxes ]
[Water ]
[Construction ]
[Education ]
Partnership to Build America Act of 2015 Establishes the American Infrastructure Fund (AIF) as a wholly-owned government corporation to provide bond guarantees and make loans to state and local governments, non-profit infrastructure providers, private parties, and public-private partnerships for state or local government sponsored transportation, energy, water, communications, or educational facility infrastructure projects (Qualified Infrastructure Projects [QIPs]). Authorizes AIF also to make equity investments in QIPs. Directs the Secretary of
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Sponsored by: Rep. Sean Patrick Maloney
Referred To The Subcommittee On Highways And Transit. on 01/21/2015
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Putting America First Corporate Tax Act [HB-3935]
[Taxes ]
[Trade ]
[Finance ]
[Budget and Spending ]
[Small Business ]
[Economic Development ]
Putting America First Corporate Tax Act This bill amends the Internal Revenue Code to modify the definition of subpart F income (i.e., income of a controlled foreign corporation earned outside the United States that is not tax-deferred) to include income of a controlled foreign corporation derived from any foreign country. This modification is applicable to taxable years beginning after December 31, 2015.
Sponsored by: Rep. Barbara Lee
Introduced In House on 11/05/2015
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Outsourcing Accountability Act of 2015 [HB-3811]
[Finance ]
[Labor, Jobs, Employment ]
[Trade ]
[Small Business ]
[Consumer Protection ]
[Economic Development ]
Outsourcing Accountability Act of 2015 Amends the Securities Exchange Act of 1934 to require registered securities issuers to disclose annually to the Securities and Exchange Commission and to shareholders: (1) the total number of employees domiciled in the United States and listed by number in each state (including those of consolidated subsidiaries); (2) the total number of such employees physically working in and domiciled in any country other than the United States, listed by number in each country; and (3) the percentage increase or decrease
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Sponsored by: Rep. Barbara Lee
Introduced In House on 10/22/2015
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Aviation Screening Contractor Reform and Accountability Act [HB-3415]
[Transportation and Motor Vehicles ]
[National Security ]
[Public Safety ]
[Labor, Jobs, Employment ]
[Law Enforcement ]
[Consumer Protection ]
Aviation Screening Contractor Reform and Accountability Act This bill prohibits subsidiaries of foreign-owned companies from performing security screening at commercial airports and establishes additional requirements for private screening companies. The Transportation Security Administration (TSA) must not: contract with private screening companies that are U.S. subsidiaries of foreign companies or have compromised covert security testing, permit the screening to be performed by a subcontractor, or provide funding to any company that provides screening
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Sponsored by: Rep. Bennie G. Thompson
Referred To The Subcommittee On Transportation Security. on 08/11/2015
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Business Supply Chain Transparency on Trafficking and Slavery Act of 2015 [HB-3226]
[Human Rights ]
[Consumer Protection ]
[Labor, Jobs, Employment ]
[Trade ]
[Law Enforcement ]
[Small Business ]
Business Supply Chain Transparency on Trafficking and Slavery Act of 2015 This bill expresses the sense of Congress that: (1) legislation is necessary to provide consumers information on products that are free of child labor, forced labor, slavery, and human trafficking; and (2) businesses and consumers, by means of publicly available disclosures, can avoid inadvertently promoting or sanctioning these crimes through production and purchase of raw materials, goods, and finished products that have been tainted in the supply chains. The bill amends
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Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 07/27/2015
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GROW AMERICA Act Generating Renewal, Opportunity, and Work with Accelerated Mobility, Efficiency, and Rebuilding of Infrastructure and Communities throughout America Act [HB-3064]
[Infrastructure ]
[Transportation and Motor Vehicles ]
[Budget and Spending ]
[Energy ]
[Environmental ]
[Technology and Innovation ]
[Trade ]
[Small Business ]
[Construction ]
[Economic Development ]
[Funding ]
[Grants ]
[Taxes ]
[Public Safety ]
GROW AMERICA Act Generating Renewal, Opportunity, and Work with Accelerated Mobility, Efficiency, and Rebuilding of Infrastructure and Communities throughout America Act Prescribes requirements for environmental reviews with respect to state and federal agency engagement, obstruction of navigation, historic sites, categorical exclusion of multimodal projects from environmental review, and creation in the Department of Transportation (DOT) of an Interagency Infrastructure Permitting Improvement Center. Directs DOT to establish a multimodal freight
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Sponsored by: Rep. Eleanor Holmes Norton
Referred To The Subcommittee On Research And Technology. on 08/18/2015
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Offshoring Prevention Act [HB-305]
[Taxes ]
[Trade ]
[Manufacturing ]
[Labor, Jobs, Employment ]
[Economic Development ]
Offshoring Prevention Act Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.
Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 01/13/2015
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Stop Tax Haven Abuse Act [HB-297]
[Finance ]
[Taxes ]
[International ]
[Trade ]
[Budget and Spending ]
[Small Business ]
[Law Enforcement ]
[National Security ]
[Cybersecurity ]
[Economic Development ]
[Crime ]
Stop Tax Haven Abuse Act Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of primary money laundering concern or that significantly impede U.S. tax enforcement. Amends the Internal Revenue Code to: expand reporting requirements for U.S. persons who hold an interest in a passive foreign investment company; establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under
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Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 01/13/2015
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Bring Jobs Home Act [HB-2963]
[Labor, Jobs, Employment ]
[Taxes ]
[Small Business ]
[Trade ]
[Economic Development ]
Bring Jobs Home Act Amends the Internal Revenue Code to: (1) grant business taxpayers a tax credit for up to 20% of insourcing expenses incurred for eliminating a business located outside the United States and relocating it within the United States, and (2) deny a tax deduction for outsourcing expenses incurred in relocating a U.S. business outside the United States. Requires an increase in the taxpayer's employment of full-time employees in the United States in order to claim the tax credit for insourcing expenses.
Sponsored by: Rep. James P. McGovern
Introduced In House on 07/08/2015
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Fighting for American Jobs Act of 2015 [HB-2682]
[Labor, Jobs, Employment ]
[Small Business ]
[Trade ]
[Funding ]
[Grants ]
[Unemployment ]
[Economic Development ]
Fighting for American Jobs Act of 2015 Directs each federal agency that provides contracts, grants, loans, or loan guarantees to businesses to require, as a condition of such assistance, that such businesses provide annually information on: the number of employees employed in the United States and its territories and possessions and the number employed outside the United States, as well as wage information on U.S. employees; and the percentage of the workforce that has been laid off or forced to resign during the preceding year. Prohibits, until
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Sponsored by: Rep. Peter J. Visclosky
Introduced In House on 06/04/2015
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FairTax Act of 2015 [HB-25]
[Taxes ]
[Budget and Spending ]
[Medicare and Medicaid ]
[Social Security ]
[Healthcare ]
[Senior Citizens ]
[Poverty ]
FairTax Act of 2015 This bill is a tax reform proposal that imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income and corporate income tax, employment and self-employment taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2017, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property, for property or services purchased for business, export, or investment purposes, and for state government
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Sponsored by: Rep. Steve Russell
Introduced In House on 01/06/2015
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PRIMED Act Prioritizing Reinvestment in Infrastructure and Military while Eliminating Debt Act of 2015 [HB-2225]
[Defense ]
[Infrastructure ]
[Finance ]
[Taxes ]
[Budget and Spending ]
[Military ]
[Transportation and Motor Vehicles ]
PRIMED Act Prioritizing Reinvestment in Infrastructure and Military while Eliminating Debt Act of 2015 This bill amends the Internal Revenue Code to allow corporate taxpayers to elect a tax deduction for cash dividends received from a controlled foreign corporation during the period beginning after the bill's enactment date and ending on December 31, 2016. The dividends received are subject to an effective tax rate of 5.25% when repatriated in the United States. The bill divides tax revenues attributable to such repatriated earnings equally for:
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Sponsored by: Rep. Mark Meadows
Introduced In House on 05/01/2015
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Trade Facilitation and Trade Enforcement Act of 2015 [HB-1907]
[Trade ]
[Technology and Innovation ]
[Cybersecurity ]
[Law Enforcement ]
[National Security ]
[Consumer Protection ]
[Public Safety ]
[Manufacturing ]
[Economic Development ]
[International ]
Trade Facilitation and Trade Enforcement Act of 2015 TITLE I--TRADE FACILITATION AND TRADE ENFORCEMENT (Sec. 101) This bill directs the U.S. Customs and Border Protection (CBP) to ensure that CBP partnership programs, such as the Customs-Trade Partnership Against Terrorism, provide trade benefits to importers, exporters, and certain other private sector entities that meet program requirements. (Sec. 102) The Government Accountability Office (GAO) shall report to Congress on the effectiveness of CBP enforcement of U.S. customs and trade laws (trade
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Sponsored by: Rep. Patrick J. Tiberi
Reported (amended) By The Committee On Ways And Means. H. Rept. 114-114, Part I. on 05/14/2015
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No Federal Contracts for Corporate Deserters Act of 2015 [HB-1809]
[Finance ]
[Defense ]
[National Security ]
[Trade ]
[Taxes ]
[Budget and Spending ]
[Small Business ]
[Law Enforcement ]
[Military ]
No Federal Contracts for Corporate Deserters Act of 2015 Prohibits an executive agency from awarding a contract (including a defense contract) to: (1) any foreign incorporated entity determined to be an inverted domestic corporation or any subsidiary of such entity, or (2) any joint venture more than 10% of which is held by such an entity or subsidiary. Directs each agency to include in each contract awarded with a value in excess of $10 million, other than a contract for exclusively commercial items, a clause that prohibits the prime contractor
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Sponsored by: Rep. Rosa L. DeLauro
Introduced In House on 04/15/2015