Foreign And International Corporations
US Congress 114th Congress
Corporate Tax Dodging Prevention Act [HB-1790]
[Taxes ]
[Finance ]
[Trade ]
[Energy ]
Corporate Tax Dodging Prevention Act Amends the Internal Revenue Code, with respect to the taxation of the foreign-source income of domestic corporations, to: eliminate the deferral of tax on the foreign-source income of U.S. corporations for taxable years beginning after December 31, 2015; deny the foreign tax credit to large integrated oil companies that are dual capacity taxpayers; limit the offset of the foreign tax credit to income that is subject to U.S. tax; treat foreign corporations managed and controlled in the United States as domestic
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Sponsored by: Rep. Janice D. Schakowsky
Introduced In House on 04/14/2015
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Permanent CFC Look-Through Act of 2015 [HB-1430]
[Taxes ]
[Finance ]
[Trade ]
Permanent CFC Look-Through Act of 2015 (Sec. 2) This bill amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).
Sponsored by: Rep. Bill Pascrell
Reported (amended) By The Committee On Ways And Means. H. Rept. 114-309. on 10/23/2015
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Get Reinvesting in Opportunities for Workers (GROW) American Jobs Act [HB-1007]
[Labor, Jobs, Employment ]
[Economic Development ]
[Trade ]
[Small Business ]
[Manufacturing ]
[Funding ]
[Grants ]
[Investments ]
Get Reinvesting in Opportunities for Workers (GROW) American Jobs Act Authorizes appropriations for FY2016-FY2020 for the SelectUSA Initiative (federal assistance aimed at increasing both foreign and domestic investment in U.S. business). Directs the Secretary of Commerce to report to Congress during such fiscal years on Initiative activities.
Sponsored by: Rep. Matthew A. Cartwright
Referred To The Subcommittee On Commerce, Manufacturing, And Trade. on 02/20/2015
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American Financial Markets Integrity and Security Act [HB-8800]
[Finance ]
[National Security ]
[International ]
[Defense ]
[Investments ]
[Insurance ]
[Retirement ]
Generally prohibits investments in certain Chinese military companies and entities reasonably believed to be involved in activities contrary to the national security or foreign policy interests of the United States. These entities may not sell securities to U.S. markets. Investment companies, insurance companies, and retirement plans are prohibited from investing in these entities. The bill also prohibits the use of federal funds to enter into or renew a contract with these entities. Furthermore, the Department of Commerce and the Office of the
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Sponsored by: Rep. Mike Gallagher
Introduced In House on 11/20/2020
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American Nuclear Infrastructure Act of 2020 [S.4897]
[Energy ]
[Technology and Innovation ]
[Science ]
[Manufacturing ]
[National Security ]
A bill to reestablish United States global leadership in nuclear energy, revitalize domestic nuclear energy supply chain infrastructure, support the licensing of advanced nuclear technologies, and improve the regulation of nuclear energy, and for other purposes.
Sponsored by: Sen. Cory A. Booker
Committee On Environment And Public Works. Ordered To Be Reported With An Amendment In The Nature Of A Substitute Favorably. on 12/02/2020
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End Polluter Welfare Act of 2020 [S.4887]
[Energy ]
[Environmental ]
[Taxes ]
[Climate Change ]
A bill to eliminate certain subsidies for fossil-fuel production.
Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 11/10/2020
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Student Loan Affordability Act [S.953]
[Student Loans ]
[Pensions ]
[Taxes ]
[Energy ]
[Budget and Spending ]
Student Loan Affordability Act - Amends the Higher Education Act of 1965 to extend until June 30, 2015, existing interest rates for loans made to undergraduate students under the Federal Direct Stafford Loan program. Amends the Internal Revenue Code to modify rules for required distributions from tax-exempt pension plans to an employee who dies before such employee's entire interest is distributed to require such interest to be distributed within five years after the death of such employee, subject to exceptions for an eligible designated beneficiary
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Sponsored by: Sen. Jack Reed
Cloture On The Motion To Proceed To Measure Not Invoked In Senate By Yea-nay Vote. 51 - 46. Record Vote Number: 143. (consideration: Cr S3977-3978) on 06/06/2013
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Emergency Transportation Safety Fund Act [S.911]
[Transportation and Motor Vehicles ]
[Taxes ]
[Budget and Spending ]
[Infrastructure ]
[Funding ]
[Public Safety ]
Emergency Transportation Safety Fund Act - Amends the Internal Revenue Code to reduce the tax rate on current and accumulated foreign earnings of U.S. corporations reinvested in the United States and make such lower rate permanent. Establishes the Emergency Transportation Safety Fund and makes appropriations to it. Directs the Secretary of Transportation (DOT) to compile a prioritized list of emergency transportation projects, which will guide the allocation of Fund amounts to the states.
Sponsored by: Sen. Rand Paul
Read Twice And Referred To The Committee On Finance. on 05/09/2013
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Contract Screener Reform and Accountability Act [S.697]
[Transportation and Motor Vehicles ]
[Labor, Jobs, Employment ]
[National Security ]
[Law Enforcement ]
[Public Safety ]
Contract Screener Reform and Accountability Act - Repeals the authority of the Under Secretary of Homeland Security (Transportation Security Administration [TSA]) to waive the requirement that a private screening company be owned and controlled by a U.S. citizen for any company that is a U.S. subsidiary of a foreign-owned corporation that has implemented a foreign ownership, control, or influence mitigation plan approved by the Defense Security Service of the Department of Defense (DOD). Repeals the requirement that an airport operator, when submitting
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Sponsored by: Sen. Sherrod Brown
Read Twice And Referred To The Committee On Commerce, Science, And Transportation. on 04/10/2013
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Offshoring Prevention Act [S.561]
[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: Sen. Sheldon Whitehouse
Read Twice And Referred To The Committee On Finance. on 03/14/2013
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Wall Street Trading and Speculators Tax Act [S.410]
[Finance ]
[Taxes ]
[Budget and Spending ]
[Investments ]
[Retirement ]
Wall Street Trading and Speculators Tax Act - Amends the Internal Revenue Code to impose a .03% excise tax on the purchase of a security if: (1) such purchase occurs or is cleared on a trading facility located in the United States, or (2) the purchaser or seller is a U.S. person. Defines "security" to include: (1) stocks, partnership interests, notes, bonds, debentures, or other evidences of indebtedness; (2) interests in a derivative financial instrument (i.e., any option, forward contract, futures contract, or any similar financial instrument)
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Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 02/28/2013
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American Family Economic Protection Act of 2013 [S.388]
[Budget and Spending ]
[Agriculture ]
[Food ]
[Taxes ]
[Energy ]
[Small Business ]
[Labor, Jobs, Employment ]
American Family Economic Protection Act of 2013 - Title I: Budget Provisions - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to revise discretionary spending limits (spending caps) for security and nonsecurity categories in new budget authority for FY2013. Establishes discretionary spending limits for revised security and nonsecurity categories for FY2014-FY2021. Defines "revised security category" as discretionary appropriations in budget function 050 (defense function). Repeals certain sequestration
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Sponsored by: Sen. Patty Murray
Motion To Proceed To Measure Considered In Senate. (consideration: Cr S970-990, S991) on 02/28/2013
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Bring Jobs Home Act [S.337]
[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: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. on 02/14/2013
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Pay What You Owe Before You Go Act [S.2895]
[Taxes ]
[Finance ]
[International ]
Pay What You Owe Before You Go Act - Amends the Internal Revenue Code to require the recapture in subpart F income (i.e., income of a controlled foreign corporation earned outside the United States which is not tax deferred) the accumulated deferred foreign income of such corporation (i.e., the undistributed earnings of the controlled foreign corporation over its undistributed U.S. earnings) for its last taxable year.
Sponsored by: Sen. Sherrod Brown
Read Twice And Referred To The Committee On Finance. on 09/18/2014
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Corporate Inverters Earnings Stripping Reform Act of 2014 [S.2786]
[Taxes ]
[Finance ]
Corporate Inverters Earnings Stripping Reform Act of 2014 - Amends the Internal Revenue Code to impose limitations on the tax deduction for interest paid by corporations which are designated as applicable entities (i.e., members of an expanded affiliated group which includes a surrogate foreign corporation which is not treated as a domestic corporation). Prohibits such an entity from claiming a tax deduction for interest that exceeds 25% of its adjusted taxable income and from carrying forward interest which is paid or accrued during the first year
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. on 09/10/2014
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Job Preservation and Sequester Replacement Act of 2013 [S.278]
[Labor, Jobs, Employment ]
[Finance ]
[Taxes ]
[Energy ]
[Budget and Spending ]
Job Preservation and Sequester Replacement Act of 2013 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to modify the formula for calculating total deficit reduction requirements for FY2013. Amends the American Taxpayer Relief Act of 2012 to repeal the requirement that the President order a sequestration (automatic cuts in discretionary spending) for FY2013. Amends the Internal Revenue Code to: (1) require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of
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Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 02/11/2013
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Job Preservation and Economic Certainty Act of 2013 [S.277]
[Finance ]
[Taxes ]
[Energy ]
[Trade ]
[Budget and Spending ]
[Small Business ]
[Investments ]
[Economic Development ]
[Labor, Jobs, Employment ]
Job Preservation and Economic Certainty Act of 2013 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to revise discretionary spending limits for FY2012-FY2021. Repeals the requirement that the President order a sequestration for FY2013. Amends the Internal Revenue Code to: (1) require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year; (2)
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Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 02/11/2013
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No Federal Contracts for Corporate Deserters Act of 2014 [S.2704]
[Finance ]
[Defense ]
[National Security ]
[Taxes ]
[Trade ]
[Healthcare ]
[Small Business ]
No Federal Contracts for Corporate Deserters Act of 2014 - Prohibits an executive agency from awarding a contract (including a defense contract) for the procurement of property or services 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,
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Sponsored by: Sen. Jack Reed
Sponsor Introductory Remarks On Measure. (cr S5142-5143) on 07/30/2014
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Keeping Jobs in America Act [S.2681]
[Labor, Jobs, Employment ]
[Manufacturing ]
[Taxes ]
[Small Business ]
[Economic Development ]
Keeping Jobs in America Act - Directs the Secretary of Commerce to establish a program to award grants to states that are recruiting high-value jobs (e.g., manufacturing, software publishing, and computer system design jobs that pay a higher than average wage). Allows the use of grants to issue forgivable loans to entities that employ not fewer than 50 full-time employees in high-value jobs and that are deciding whether to locate in rural and distressed areas. Amends the Internal Revenue Code to: (1) grant business taxpayers a tax credit for up
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Sponsored by: Sen. Mark L. Pryor
Read Twice And Referred To The Committee On Finance. on 07/29/2014
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CUT Loopholes Act [S.268]
[Finance ]
[Taxes ]
[International ]
[Law Enforcement ]
[Cybersecurity ]
[Energy ]
[Crime ]
Cut Unjustified Tax Loopholes Act or the CUT Loopholes 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 impede U.S. tax enforcement. Amends the Internal Revenue Code to: establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act; treat certain foreign corporations managed
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Sponsored by: Sen. Sheldon Whitehouse
Sponsor Introductory Remarks On Measure. (cr S592-594) on 02/11/2013