Taxation Of Foreign Income
US Congress 114th Congress
Child CARE Act Child Care Access to Resources for Early-learning Act [S.2539]
[Children and Youth ]
[Family-Related Legislation ]
[Taxes ]
[Funding ]
[Grants ]
[Human Services ]
[Education ]
[Healthcare ]
Child CARE Act Child Care Access to Resources for Early-learning Act This bill amends title IV part A (Temporary Assistance for Needy Families) (TANF) of the Social Security Act to make appropriations for FY2017-FY2021 to the Department of Health and Human Services for allotments to states to: expand access to high-quality child care for infants and toddlers from low-income families who do not receive child care funded through the Child Care and Development (CCD) Fund, and increase the quality of such care for infants and toddlers who do receive
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Sponsored by: Sen. Robert P. Casey
Read Twice And Referred To The Committee On Finance. on 02/10/2016
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Clean Energy Worker Just Transition Act [S.2398]
[Energy ]
[Finance ]
[Taxes ]
[Labor, Jobs, Employment ]
[Pensions ]
[Healthcare ]
[Community Development ]
[Economic Development ]
[Funding ]
[Grants ]
[Infrastructure ]
[Water ]
[Air Quality ]
[Telecommunications ]
[Technology and Innovation ]
[Climate Change ]
[Environmental ]
[Public Health ]
[Unemployment ]
Clean Energy Worker Just Transition Act This bill prescribes eligibility requirements and procedures for the award of temporary adjustment assistance to a group of workers of adversely affected coal-related or coal-dependent or similar energy industries who are totally or partially separated, or threatened with total or partial separation, because of the low cost of competing alternative forms of energy. Such assistance shall include temporary additional unemployment compensation, health insurance premium subsidy tax credits, training and support
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Sponsored by: Sen. Edward J. Markey
Read Twice And Referred To The Committee On Finance. on 12/10/2015
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American Energy Innovation Act [S.2089]
[Energy ]
[Environmental ]
[Taxes ]
[Public Lands and National Parks ]
[Climate Change ]
[Water ]
[Cybersecurity ]
[Infrastructure ]
[Budget and Spending ]
American Energy Innovation Act This bill encourages and establishes requirements concerning: energy efficiency in the electricity grid, the manufacturing sector, certain vehicles and trucks, buildings, homes, and the federal government; protection of the bulk-power system from cybersecurity threats; the security and resiliency of the energy network and applications, including electric, natural gas, and oil exploration, transmission, and delivery; the modernization of energy infrastructure at the federal and state level; the development or deployment
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Sponsored by: Sen. Jack Reed
Read The Second Time. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 241. on 09/29/2015
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Stop Corporate Inversions Act of 2015 [S.198]
[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: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. (text Of Measure As Introduced: Cr S286) on 01/20/2015
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Tax Relief Extension Act of 2015 [S.1946]
[Taxes ]
[Energy ]
[Housing ]
[Small Business ]
[Veterans ]
[Film Production ]
[Budget and Spending ]
[Property Tax ]
[Construction ]
[Transportation and Motor Vehicles ]
Tax Relief Extension Act of 2015 Amends the Internal Revenue Code to extend expired and expiring tax provisions affecting individual and business taxpayers and the energy sector. (Sec. 2) Expresses the sense of the Senate that: (1) Congress should pursue a process of comprehensive tax reform, (2) Congress should eliminate temporary provisions in the Internal Revenue Code by making permanent those provisions that merit permanency and by allowing others to expire, and (3) a major focus of the tax reform process should be fostering economic growth
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Sponsored by: Sen. Orrin G. Hatch
Committee On Finance. Original Measure Reported To Senate By Senator Hatch. With Written Report No. 114-118. on 08/05/2015
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Close Big Oil Tax Loopholes Act [S.1907]
[Energy ]
[Taxes ]
[Budget and Spending ]
[Environmental ]
Close Big Oil Tax Loopholes Act Amends the Internal Revenue Code to limit or repeal certain tax benefits for major integrated oil companies (defined as companies with annual gross receipts over $1 billion and an average daily worldwide production of crude oil of at least 500,000 barrels or certain successors in interest of such companies), including: (1) the foreign tax credit for companies that are dual capacity taxpayers; (2) the tax deduction for income attributable to the production, refining, processing, transportation, or distribution of oil,
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. on 07/30/2015
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Small Business Tax Compliance Relief Act of 2015 [S.1827]
[Taxes ]
[Small Business ]
[Pensions ]
[Retirement ]
[Healthcare ]
[Budget and Spending ]
[Finance ]
Small Business Tax Compliance Relief Act of 2015 This bill amends provisions of the the Internal Revenue Code relating to the taxation of small businesses to: allow small business entities with gross receipts not exceeding $10 million (currently, $5 million) to use the cash method of accounting and an exemption from the requirement to use inventories; eliminate restrictions on the depreciation of computers or peripheral equipment; extend the tax deduction for the health insurance costs of self-employed individuals; allow small business entities
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Sponsored by: Sen. David Vitter
Read Twice And Referred To The Committee On Finance. on 07/22/2015
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Stop Tax Haven Abuse Act [S.174]
[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: Sen. Edward J. Markey
Read Twice And Referred To The Committee On Finance. on 01/13/2015
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Bring Jobs Home Act [S.1737]
[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. Robert P. Casey
Read Twice And Referred To The Committee On Finance. on 07/09/2015
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Offshore Reinsurance Tax Fairness Act [S.1687]
[Finance ]
[Taxes ]
[Insurance ]
Offshore Reinsurance Tax Fairness Act Amends the Internal Revenue Code to define "qualifying insurance corporation," for purposes of the insurance business exception to passive foreign investment company rules, as a foreign corporation: (1) that would be subject to U.S. taxation if it were a domestic corporation, and (2) the applicable insurance liabilities of which constitute more than 25% of its total assets. Allows an alternative facts and circumstances test for insurance corporations whose applicable insurance liabilities are not at least 25%
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Sponsored by: Sen. Ron Wyden
Read Twice And Referred To The Committee On Finance. (sponsor Introductory Remarks On Measure: Cr S4650; Text Of Measure As Introduced: Cr S4650-4652) on 06/25/2015
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Offshoring Prevention Act [S.162]
[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 01/13/2015
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Fair Tax Act of 2015 [S.155]
[Taxes ]
[Budget and Spending ]
[Medicare and Medicaid ]
[Social Security ]
[Healthcare ]
[Poverty ]
Fair Tax 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: Sen. David Perdue
Read Twice And Referred To The Committee On Finance. (sponsor Introductory Remarks On Measure: Cr S552-553) on 01/13/2015
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Patriot Employer Tax Credit Act [S.1486]
[Taxes ]
[Labor, Jobs, Employment ]
[Healthcare ]
[Retirement ]
[Veterans ]
[Small Business ]
[Military ]
Patriot Employer Tax Credit Act Amends the Internal Revenue Code to allow a Patriot employer a business-related tax credit for up to 10% of the first $15,000 of wages paid to any employee in a taxable year. Sets forth criteria for designation as a Patriot employer, including requirements that such employer: (1) maintains its headquarters in the United States and does not expatriate to avoid payment of U.S. income taxes, (2) complies with the employer mandate to provide minimum essential health care coverage to its employees under the Patient Protection
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. (sponsor Introductory Remarks On Measure: Cr S3641; Text Of Measure As Introduced: Cr S3459-3461) on 06/02/2015
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Build USA Act [S.1296]
[Infrastructure ]
[Finance ]
[Taxes ]
[Transportation and Motor Vehicles ]
[Budget and Spending ]
[Economic Development ]
Build USA Act This bill establishes the American Infrastructure Bank as a wholly owned government corporation. The Bank's Board of Directors has authority, among other operations, to issue public benefit bonds and provide financing to core infrastructure projects from bond proceeds. State governments may enter into minimum three-year remittance agreements with the Bank under which: a state agrees to remit to the Bank at least 60% of the total amount of federal-aid highway activities funds it receives from the federal government in each of the three
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Sponsored by: Sen. Deb Fischer
Read Twice And Referred To The Committee On Finance. on 05/12/2015
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Trade Adjustment Assistance Reauthorization Act of 2015 [S.1268]
[Trade ]
[Labor, Jobs, Employment ]
[Taxes ]
[Healthcare ]
[Medicare and Medicaid ]
[Budget and Spending ]
[Social Security ]
Trade Adjustment Assistance Reauthorization Act of 2015 (Sec. 2) Amends the Trade Adjustment Assistance Extension Act of 2011 to repeal the declaration that trade adjustment assistance (TAA) program requirements in effect as of February 13, 2011, under the Trade Act of 1974 shall apply to petitions for certification to apply for TAA for workers, firms, and farmers that are filed before January 1, 2014. (Sec. 3) Amends the Trade Act of 1974 to extend through June 30, 2021: the TAA program, and the reemployment trade adjustment assistance (RTAA) program.
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Sponsored by: Sen. Orrin G. Hatch
By Senator Hatch From Committee On Finance Filed Written Report. Report No. 114-44. on 05/12/2015
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End Polluter Welfare Act of 2015 [S.1041]
[Energy ]
[Environmental ]
[Taxes ]
[Climate Change ]
[Trade ]
[Budget and Spending ]
End Polluter Welfare Act of 2015 Amends the Outer Continental Shelf Lands Act and the Energy Policy Act of 2005 to repeal the authority of the Department of the Interior to reduce or eliminate royalty payments for oil and natural gas leases in the Outer Continental Shelf. Amends the Mineral Leasing Act to increase minimum royalty payments for coal, oil, and natural gas leases. Amends the Federal Oil and Gas Royalty Management Act of 1982 to prohibit payment of interest upon any overpayment of royalties. Amends the Oil Pollution Act to eliminate
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Sponsored by: Sen. Edward J. Markey
Read Twice And Referred To The Committee On Finance. on 04/22/2015
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Expressing the sense of the House that a Contract with America should restore American competitiveness. [HR-22]
[Taxes ]
[Immigration ]
[Energy ]
[Trade ]
[Infrastructure ]
[Budget and Spending ]
[Labor, Jobs, Employment ]
[Small Business ]
[Telecommunications ]
[Economic Development ]
Expressing the sense of the House that a Contract with America should restore American competitiveness. Expresses the sense of the House of Representatives that a Contract with America should include a roadmap to restore American competitiveness by: simplifying the corporate tax structure with lower statutory rates and no loopholes; taxing overseas profits earned by American multinational companies only where they are earned; easing the immigration of highly skilled individuals; responsibly developing America's shale-gas and oil reserves; aggressively
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Sponsored by: Rep. Tom Rice
Referred To The Subcommittee On Energy And Mineral Resources. on 03/02/2015
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Permanent Active Financing Exception Act of 2015 [HB-961]
[Finance ]
[Taxes ]
[Insurance ]
Permanent Active Financing Exception Act of 2015 (Sec. 2) This bill amends the Internal Revenue Code to make permanent the subpart F foreign personal holding company income exemption for income that is derived in the active conduct of a banking, financing, or similar business, as a securities dealer, or in the conduct of an insurance business.
Sponsored by: Rep. Bill Pascrell
Reported (amended) By The Committee On Ways And Means. H. Rept. 114-307. on 10/23/2015
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Foreign Earnings Reinvestment Act [HB-788]
[Taxes ]
[Trade ]
[Labor, Jobs, Employment ]
[Economic Development ]
Foreign Earnings Reinvestment Act Amends the Internal Revenue Code to: (1) extend the election allowed to a domestic corporation to deduct current and accumulated dividends received from a controlled foreign corporation to the corporation's last taxable year beginning before the enactment of this Act or the first taxable year which begins during the one-year period beginning on such enactment date, (2) reduce tax rates on foreign earnings of domestic corporations that reinvest such earnings in the United States and that expand their payrolls over
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Sponsored by: Rep. Trent Franks
Introduced In House on 02/05/2015
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Federal Employee Pension Fairness Act of 2015 [HB-785]
[Pensions ]
[Labor, Jobs, Employment ]
[Taxes ]
[Retirement ]
Federal Employee Pension Fairness Act of 2015 Repeals provisions requiring federal employees, including foreign service employees, who began service after 2012 to pay an increased contribution (4.4%) for funding their annuities under the Federal Employees Retirement System. Amends the Internal Revenue Code to: (1) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for U.S. tax purposes; and (2) revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire
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Sponsored by: Rep. Gerald E. Connolly
Introduced In House on 02/05/2015