Taxation Of Foreign Income
US Congress 114th Congress
Cuba Reconciliation Act [HB-735]
[International ]
[Telecommunications ]
[Taxes ]
[Trade ]
Cuba Reconciliation Act Amends the Foreign Assistance Act of 1961 to repeal the embargo placed upon all trade with Cuba. Amends the Internal Revenue Code to declare the denial of foreign tax credit inapplicable to Cuba.Permits: (1) installation and maintenance of telecommunications equipment and facilities in Cuba, including telecommunications services between the United States and Cuba; and (2) travel to and from Cuba by U.S. citizens or residents. Requires the U.S. Postal Service to provide direct mail service to and from Cuba.
Sponsored by: Rep. Barbara Lee
Referred To The Subcommittee On Trade. on 02/27/2015
Spread the world
Gettr US Congress 114th Congress
Infrastructure 2.0 Act [HB-625]
[Infrastructure ]
[Taxes ]
[Transportation and Motor Vehicles ]
[Budget and Spending ]
[Construction ]
[Economic Development ]
[Funding ]
Infrastructure 2.0 Act Amends the Internal Revenue Code, with respect to the taxation of earnings and profits of a deferred foreign income corporation, to: (1) make such earnings and profit subject to taxation in the last taxable year that ends before the enactment of this Act; (2) reduce the rate of tax on such earnings and profits by allowing an exemption of 75% (equal to a tax of 8.75% of repatriated earnings and profits); and (3) allow such corporations to elect to pay such tax in eight installments. Establishes the American Infrastructure Fund
(continued...)
Sponsored by: Rep. James R. Langevin
Referred To The Subcommittee On Highways And Transit. on 02/02/2015
Spread the world
US Congress 114th Congress
To amend title 31, United States Code, to provide for the issuance of Green Bonds and to establish the United States Green Bank, and for other purposes. [HB-5802]
[Finance ]
[Environmental ]
[Energy ]
[Budget and Spending ]
[Climate Change ]
[Economic Development ]
[Funding ]
[Grants ]
To amend title 31, United States Code, to provide for the issuance of Green Bonds and to establish the United States Green Bank, and for other purposes.
Sponsored by: Rep. Gerald E. Connolly
Introduced In House on 07/14/2016
Spread the world
US Congress 114th Congress
Putting Main Street FIRST Act Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act [HB-5745]
[Finance ]
[Consumer Protection ]
Putting Main Street FIRST Act Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act
Sponsored by: Rep. Raul M. Grijalva
Sponsor Introductory Remarks On Measure. (cr E1124) on 07/14/2016
Spread the world
US Congress 114th Congress
Preventing Investment in Terrorist Regimes Act [HB-5545]
[International ]
[National Security ]
Preventing Investment in Terrorist Regimes Act
Sponsored by: Rep. David G. Reichert
Introduced In House on 06/21/2016
Spread the world
US Congress 114th Congress
Water Affordability, Transparency, Equity, and Reliability Act of 2016 [HB-5313]
[Water ]
Water Affordability, Transparency, Equity, and Reliability Act of 2016
Sponsored by: Rep. Raul M. Grijalva
Referred To The Subcommittee On Water Resources And Environment. on 05/25/2016
Spread the world
US Congress 114th Congress
Protecting the U.S. Corporate Tax Base Act of 2016 [HB-5261]
[Taxes ]
[Finance ]
[Trade ]
[International ]
Protecting the U.S. Corporate Tax Base Act of 2016 This bill amends the Internal Revenue Code to revise the rules for taxing the earnings and determining the stock ownership of certain controlled foreign corporations (CFCs). The bill provides that, in the case of certain CFCs, subpart F income (income of a CFC earned outside the United States that is not tax deferred) includes a U.S. shareholder's pro rata share of any increase in the CFC's investment of earnings in certain foreign property. The bill also revises the rules for determining stock
(continued...)
Sponsored by: Rep. Danny K. Davis
Introduced In House on 05/17/2016
Spread the world
US Congress 114th Congress
To amend the Internal Revenue Code of 1986 to expand rules related to investment by nonresident aliens in domestic mutual funds and business development companies. [HB-5184]
[Finance ]
[Taxes ]
[International ]
[Investments ]
To amend the Internal Revenue Code of 1986 to expand rules related to investment by nonresident aliens in domestic mutual funds and business development companies. This bill amends the Internal Revenue Code, with respect to the tax on nonresident alien individuals, to expand the categories of interest-related dividends for which a tax exemption is allowed.
Sponsored by: Rep. Erik Paulsen
Introduced In House on 05/10/2016
Spread the world
US Congress 114th Congress
Make America Competitive Act of 2016 [HB-5158]
[Finance ]
[Taxes ]
[Healthcare ]
[Labor, Jobs, Employment ]
[Social Security ]
[Pensions ]
[Retirement ]
Make America Competitive Act of 2016 This bill amends the Internal Revenue Code to allow corporations to elect a 10% tax rate on their taxable income if such corporations: (1) offer their full-time employees group health insurance coverage, (2) offer such employees a defined contribution pension plan, (3) provide their employees with regular pay increases, and (4) make additional social security contributions for employees who do not have a defined benefit pension plan. Such corporations may also elect to repatriate their current and accumulated
(continued...)
Sponsored by: Rep. David B. McKinley
Introduced In House on 04/29/2016
Spread the world
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
(continued...)
Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 04/29/2016
Spread the world
US Congress 114th Congress
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
Spread the world
US Congress 114th Congress
Territorial Tax Parity Act of 2016 [HB-5039]
[Taxes ]
[Trade ]
[Small Business ]
[Economic Development ]
Territorial Tax Parity Act of 2016 This bill amends the Internal Revenue Code to modify the income source rules involving U.S. possessions, including Guam, American Samoa, the Northern Mariana Islands, Puerto Rico, and the Virgin Islands. Under current law, income is not considered to be possession source income if it is treated as income: (1) from sources within the United States, or (2) effectively connected with the conduct of a trade or business within the United States. The bill amends this rule to specify that it applies to the extent that
(continued...)
Sponsored by: Rep. Stacey E. Plaskett
Introduced In House on 04/21/2016
Spread the world
US Congress 114th Congress
Territorial Tax Equity and Economic Growth Act [HB-5038]
[Taxes ]
[Economic Development ]
[Trade ]
[Small Business ]
[Finance ]
Territorial Tax Equity and Economic Growth Act This bill amends the Internal Revenue Code to modify the residence and income source rules involving U.S. possessions, including Guam, American Samoa, the Northern Mariana Islands, Puerto Rico, and the Virgin Islands. The bill specifies that a bona fide resident of a possession is a person who has a substantial presence in the possession for at least 122 days during the calendar year. (Under current law, the person must be present for at least 183 days during the year.) (Under current law, income is
(continued...)
Sponsored by: Rep. Stacey E. Plaskett
Introduced In House on 04/21/2016
Spread the world
US Congress 114th Congress
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
(continued...)
Sponsored by: Rep. Steve Russell
Introduced In House on 01/13/2016
Spread the world
US Congress 114th Congress
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
(continued...)
Sponsored by: Rep. Charles W. Boustany
Introduced In House on 12/18/2015
Spread the world
US Congress 114th Congress
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
(continued...)
Sponsored by: Rep. Ted Lieu
Introduced In House on 01/20/2015
Spread the world
US Congress 114th Congress
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
(continued...)
Sponsored by: Rep. Sean Patrick Maloney
Referred To The Subcommittee On Highways And Transit. on 01/21/2015
Spread the world
US Congress 114th Congress
Bridge to a Clean Energy Future Act of 2015 [HB-4040]
[Energy ]
[Taxes ]
[Environmental ]
[Climate Change ]
[Budget and Spending ]
[Small Business ]
Bridge to a Clean Energy Future Act of 2015 This bill amends the Internal Revenue Code to extend various tax credits and deductions relating to energy and to repeal certain tax preferences for oil and gas activities. TITLE I--EXTENSION AND MODIFICATION OF ENERGY TAX PROVISIONS This title extends through 2016: the tax credit for nonbusiness energy property; the tax credit for new qualified fuel cell motor vehicles; the tax credit for alternative fuel vehicle refueling property expenditures; the tax credit for second generation biofuel production;
(continued...)
Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 11/17/2015
Spread the world
US Congress 114th Congress
Free Trade With Cuba Act [HB-403]
[Trade ]
[International ]
[Telecommunications ]
[Human Rights ]
[Taxes ]
[National Security ]
Free Trade With Cuba Act Amends the Foreign Assistance Act of 1961 to repeal the embargo on trade with Cuba. Prohibits the exercise by the President with respect to Cuba of certain authorities conferred by the Trading With the Enemy Act and exercised on July 1, 1977, as a result of a specified national emergency. Makes ineffective any prohibition on exports to Cuba under the Export Administration Act of 1979. Authorizes the President to impose export controls with respect to Cuba and exercise certain authorities under the International Emergency
(continued...)
Sponsored by: Rep. Raul M. Grijalva
Referred To The Subcommittee On Trade. on 02/27/2015
Spread the world
US Congress 114th Congress
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