Taxation Of Foreign Income
US Congress 114th Congress
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
Spread the world
Gettr US Congress 116th Congress
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
Spread the world
US Congress 113th Congress
A resolution to authorize the production of records by the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs. [SR-62]
[Law Enforcement ]
[Taxes ]
Authorizes the Chairman and Ranking Minority Member of the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs, acting jointly, to provide to law enforcement officials, regulatory agencies, and other entities or individuals duly authorized by federal, state, or foreign governments records of the Subcommittee's investigation into offshore profit shifting and the U.S. tax code.
Sponsored by: Sen. Mitch McConnell
Submitted In The Senate, Considered, And Agreed To Without Amendment By Unanimous Consent. (consideration: Cr S957; Text As Passed Senate: Cr S947) on 02/27/2013
Spread the world
US Congress 113th Congress
A resolution to authorize the production of records by the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs. [SR-468]
[Finance ]
[Taxes ]
[Law Enforcement ]
Authorizes the Chairman and Ranking Minority Member of the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs, acting jointly, to provide to law enforcement officials, regulatory agencies, and other entities or individuals duly authorized by federal, state, or foreign governments records of the Subcommittee's investigation into Caterpillar's offshore tax strategy..
Sponsored by: Sen. Mitch McConnell
Submitted In The Senate, Read Twice, Considered, And Agreed To Without Amendment And With A Preamble By Unanimous Consent. (consideration: Cr S3477-3478; Text As Passed Senate: Cr S3477) on 06/05/2014
Spread the world
US Congress 113th Congress
A resolution to authorize the production of records by the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs. [SR-398]
[Finance ]
[Taxes ]
[Law Enforcement ]
[National Security ]
Authorizes the Chairman and Ranking Minority Member of the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs, acting jointly, to provide to law enforcement officials, regulatory agencies, and other entities or individuals duly authorized by federal, state, or foreign governments records of the Subcommittee's investigation into offshore tax evasion and the effort to collect unpaid taxes on billions in hidden offshore accounts.
Sponsored by: Sen. Mitch McConnell
Submitted In The Senate, Considered, And Agreed To Without Amendment And With A Preamble By Unanimous Consent. (consideration: Cr S1739-1740; Text As Passed Senate: Cr S1734) on 03/25/2014
Spread the world
US Congress 113th Congress
An original concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2014, revising the appropriate budgetary levels for fiscal year 2013, and setting forth the appropriate budgetary levels for fiscal years 2015 through 2023. [SCR-8]
[Budget and Spending ]
[Taxes ]
[Labor, Jobs, Employment ]
[Energy ]
[Environmental ]
[Healthcare ]
[Infrastructure ]
[Veterans ]
[National Security ]
[Pensions ]
[Medicare and Medicaid ]
[Education ]
[Housing ]
[Small Business ]
[Manufacturing ]
[Science ]
[Technology and Innovation ]
[Transportation and Motor Vehicles ]
[Water ]
[Mining ]
[Law Enforcement ]
[Public Lands and National Parks ]
[Social Security ]
[Defense ]
[Aerospace ]
[Elections ]
[Trade ]
[Consumer Protection ]
[Senior Citizens ]
[Children and Youth ]
[Disaster Relief ]
[Economic Development ]
[Funding ]
[Grants ]
[Public Safety ]
[Crime ]
Sets forth the congressional budget for the federal government for FY2013, including the appropriate budgetary levels for FY2015-FY2023. Title I: Recommended Levels and Amounts - (Sec. 101) Lists recommended budgetary levels and amounts for FY2013-FY2023 with respect to: (1) federal revenues, (2) new budget authority, (3) budget outlays, (4) deficits, (5) public debt, and (6) debt held by the public. (Sec. 102) Lists the appropriate levels of new budget authority, outlays, and administrative expenses for the Social Security Administration (SSA),
(continued...)
Sponsored by: Sen. Patty Murray
Conference Held. on 11/13/2013
Spread the world
US Congress 113th Congress
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
Spread the world
US Congress 113th Congress
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
Spread the world
US Congress 113th Congress
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
(continued...)
Sponsored by: Sen. Patty Murray
Motion To Proceed To Measure Considered In Senate. (consideration: Cr S970-990, S991) on 02/28/2013
Spread the world
US Congress 113th Congress
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
Spread the world
US Congress 113th Congress
Sustainable Energy Act [S.329]
[Energy ]
[Environmental ]
[Taxes ]
[Climate Change ]
[Trade ]
[Transportation and Motor Vehicles ]
[Budget and Spending ]
[Mining ]
Sustainable Energy Act - Amends the Outer Continental Shelf Lands Act and the Energy Policy Act of 2005 to repeal the authority of the Secretary 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. Repeals the program for ultra-deepwater and unconventional natural gas and other petroleum resource exploration and production. Amends the Oil Pollution Act to eliminate the limitation
(continued...)
Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 02/14/2013
Spread the world
US Congress 113th Congress
Close Big Oil Tax Loopholes Act [S.307]
[Energy ]
[Taxes ]
[Budget and Spending ]
[Environmental ]
[Climate Change ]
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
(continued...)
Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. on 02/13/2013
Spread the world
US Congress 113th Congress
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
Spread the world
US Congress 113th Congress
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
(continued...)
Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 02/11/2013
Spread the world
US Congress 113th Congress
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)
(continued...)
Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 02/11/2013
Spread the world
US Congress 113th Congress
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
(continued...)
Sponsored by: Sen. Mark L. Pryor
Read Twice And Referred To The Committee On Finance. on 07/29/2014
Spread the world
US Congress 113th Congress
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
(continued...)
Sponsored by: Sen. Sheldon Whitehouse
Sponsor Introductory Remarks On Measure. (cr S592-594) on 02/11/2013
Spread the world
US Congress 113th Congress
Bring Jobs Home Act [S.2569]
[Labor, Jobs, Employment ]
[Taxes ]
[Small Business ]
[Trade ]
[Economic Development ]
[Manufacturing ]
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
Considered By Senate. (consideration: Cr S5075-5076, S5076-5077, S5080, S5081-5083) on 07/30/2014
Spread the world
US Congress 113th Congress
Bring Jobs Home Act [S.2562]
[Labor, Jobs, Employment ]
[Taxes ]
[Small Business ]
[Trade ]
[Economic Development ]
[Manufacturing ]
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 The Second Time. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 451. on 07/07/2014
Spread the world
US Congress 113th Congress
Patriot Employer Tax Credit Act [S.2540]
[Taxes ]
[Labor, Jobs, Employment ]
[Healthcare ]
[Retirement ]
[Veterans ]
[Small Business ]
[Budget and Spending ]
[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
(continued...)
Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. (text Of Measure As Introduced: Cr S4156-4158) on 06/26/2014