Taxation Of Foreign Income
US Congress 113th Congress
Corporate Tax Dodging Prevention Act [S.250]
[Taxes ]
[Finance ]
[Energy ]
[Trade ]
[Budget and Spending ]
[International ]
Corporate Tax Dodging Prevention Act - Amends the Internal Revenue Code, with respect to the taxation of the foreign-source income of domestic corporations, to: (1) eliminate the deferral of tax on the foreign-source income of U.S. corporations for taxable years beginning after December 31, 2013, (2) deny the foreign tax credit to large integrated oil companies that are dual capacity taxpayers, (3) limit the offset of the foreign tax credit to income that is subject to U.S. tax, and (4) treat foreign corporations managed and controlled in the United
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Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 02/07/2013
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American Jobs for American Infrastructure Act [S.2489]
[Infrastructure ]
[Finance ]
[Energy ]
[Taxes ]
[Trade ]
[Transportation and Motor Vehicles ]
[Budget and Spending ]
[Water ]
[Construction ]
[Economic Development ]
American Jobs for American Infrastructure Act - Amends the Internal Revenue Code to appropriate to the Highway Account and Mass Transit Account of the Highway Trust Fund for FY2014-FY2018 amounts necessary to ensure that the balance of each Account for any quarter is not less than specified levels. Declares the sense of Congress that Congress should provide annual inflation increases for the Federal Lands Access Program, the Federal Lands Transportation Program, and the Tribal Transportation Program in the next Surface Transportation reauthorization.
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Sponsored by: Sen. John E. Walsh
Read Twice And Referred To The Committee On Finance. on 06/18/2014
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Stop Child Summer Hunger Act of 2014 [S.2366]
[Food ]
[Children and Youth ]
[Poverty ]
[Taxes ]
[Budget and Spending ]
[Healthcare ]
[Public Health ]
Stop Child Summer Hunger Act of 2014 - Amends the Richard B. Russell National School Lunch Act to require the Secretary of Agriculture to establish a program providing eligible households with summer Electronic Benefits Transfer (EBT) cards that give children access to food during the summer months to: (1) reduce or eliminate children's food insecurity and hunger, and (2) improve their nutritional status. Defines an "eligible household" as a household that includes one or more children who are eligible to receive free or reduced price meals under
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Sponsored by: Sen. Jack Reed
Sponsor Introductory Remarks On Measure. (cr S3239) on 05/21/2014
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Stop Corporate Inversions Act of 2014 [S.2360]
[Taxes ]
[Finance ]
[Trade ]
[Small Business ]
[International ]
Stop Corporate Inversions Act of 2014 - 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 during the period beginning after May 8, 2014, and before May 9, 2016, a foreign corporation that acquires the properties of a U.S. corporation or partnership shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition:
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Sponsored by: Sen. Jack Reed
Sponsor Introductory Remarks On Measure. (cr S3188-3189) on 05/20/2014
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A bill to establish the Green Bank to assist in the financing of qualified clean energy projects and qualified energy efficiency projects. [S.2271]
[Energy ]
[Environmental ]
[Finance ]
[Taxes ]
[Budget and Spending ]
[Technology and Innovation ]
[Climate Change ]
Establishes the Green Bank as a federally-owned independent corporation with a 20-year charter. Requires the Secretary of the Treasury to issue Green Bonds in order to provide the Bank with an initial capitalization of $10 billion and to provide additional capitalization of up to $50 billion upon request of the Bank. Requires the Bank to establish a program to provide financial support or risk management for qualifying clean energy or energy efficiency projects. Authorizes the Bank to provide funding for low-interest loans to establish state clean
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Sponsored by: Sen. Richard Blumenthal
Read Twice And Referred To The Committee On Finance. on 04/30/2014
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EXPIRE Act of 2014 [S.2260]
[Energy ]
[Finance ]
[Taxes ]
[Small Business ]
[Medicare and Medicaid ]
[Pensions ]
[Budget and Spending ]
[Labor, Jobs, Employment ]
[Housing ]
[Construction ]
[Veterans ]
[Military ]
[Economic Development ]
Expiring Provisions Improvement, Reform, and Efficiency Act of 2014 or the EXPIRE Act of 2014 - Amends the Internal Revenue Code to extend through 2015 expiring tax provisions pertaining to individual and business taxpayers and the energy sector. Expresses the sense of the Senate that: (1) a process of comprehensive tax reform should commence in the 114th Congress and should conclude before January 1, 2016; (2) Congress should endeavor to eliminate temporary provisions in the tax code by making permanent those provisions that merit permanency and
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Sponsored by: Sen. Ron Wyden
Motion To Proceed To Consideration Of Measure Made In Senate. (consideration: Cr S2763-2768) on 05/07/2014
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21st Century Worker Tax Cut Act [S.2162]
[Taxes ]
[Labor, Jobs, Employment ]
[Budget and Spending ]
21st Century Worker Tax Cut Act - Amends the Internal Revenue Code to: (1) allow married taxpayers with at least one qualifying child under the age of 12 an income-based tax deduction equal to 20% of the lesser of $60,000 or the earned income of the spouse with the lower amount of earned income; (2) increase the amount of the earned income tax credit for taxpayers with no qualifying children; (3) increase the penalty for tax return preparers who fail to comply with due diligence requirements for determining eligibility for the earned income tax
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Sponsored by: Sen. Jack Reed
Sponsor Introductory Remarks On Measure. (cr S1776-1777) on 03/26/2014
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Partnership to Build America Act of 2014 [S.1957]
[Infrastructure ]
[Finance ]
[Energy ]
[Telecommunications ]
[Education ]
[Taxes ]
[Transportation and Motor Vehicles ]
[Budget and Spending ]
[Water ]
[Construction ]
[Economic Development ]
Partnership to Build America Act of 2014 - 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
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Sponsored by: Sen. Angus S. King
Read Twice And Referred To The Committee On Finance. on 01/16/2014
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Military Retirement Restoration Act [S.1844]
[Military ]
[Pensions ]
[Retirement ]
[Taxes ]
[Veterans ]
Military Retirement Restoration Act - Repeals the provision of the Bipartisan Budget Act of 2013 that reduces the cost-of-living adjustment to the retirement pay of members of the Armed Forces under age 62. Amends the Internal Revenue Code to treat a foreign corporation managed and controlled, directly or indirectly, primarily in the United States as a domestic corporation for U.S. tax purposes if the stock of such corporation is regularly traded on an established securities market or the aggregate gross assets of such corporation during the taxable
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. on 12/17/2013
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End Polluter Welfare Act of 2013 [S.1762]
[Energy ]
[Environmental ]
[Taxes ]
[Climate Change ]
[Budget and Spending ]
[Trade ]
[Transportation and Motor Vehicles ]
[Water ]
End Polluter Welfare Act of 2013 - 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
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Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Finance. on 11/21/2013
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Stop Tax Haven Abuse Act [S.1533]
[Finance ]
[Taxes ]
[Trade ]
[International ]
[Cybersecurity ]
[Law Enforcement ]
[National Security ]
[Small Business ]
[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
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Sponsored by: Sen. Edward J. Markey
Sponsor Introductory Remarks On Measure. (cr S6649-6661) on 09/19/2013
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A bill to amend the Internal Revenue Code of 1986 to provide that income attributable to certain passenger cruise voyages beginning or ending in the United States shall be treated as effectively connected with the conduct of a trade or business within the United States. [S.1449]
[Taxes ]
[Tourism ]
[Trade ]
Amends the Internal Revenue Code to treat United States cruise industry income as effectively connected with the conduct of a trade or business within the United States (thus subjecting such income to U.S. income taxation). Defines "United States cruise industry income" as income attributable to a voyage of a commercial passenger cruise vessel (a passenger vessel having berth or stateroom accommodations for at least 250 passengers) that extends over 1 or more nights and during which passengers embark or disembark the vessel in the United States.
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Sponsored by: Sen. John D. Rockefeller
Sponsor Introductory Remarks On Measure. (cr S6222) on 08/01/2013
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Protect American Investments Act of 2013 [S.1257]
[Finance ]
[Taxes ]
[Trade ]
[Investments ]
[International ]
Protect American Investments Act of 2013 - Prohibits a U.S.-based company, entity, or person from paying a financial transaction tax imposed by a foreign country on any covered financial transaction. Defines "covered financial transaction" as a financial transaction occurring on a U.S. exchange or over-the-counter within the United States, notwithstanding the nationality of the issuer of such security or the residence of any party to the transaction. Requires the Secretary of the Treasury to: (1) promulgate regulations or other guidance to carry
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Sponsored by: Sen. Pat Roberts
Read Twice And Referred To The Committee On Finance. on 06/27/2013
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Fair Tax Act of 2013 [S.122]
[Taxes ]
[Budget and Spending ]
[Medicare and Medicaid ]
[Social Security ]
[Healthcare ]
[Finance ]
[Senior Citizens ]
Fair Tax Act of 2013 - Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2013. Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23% in 2015, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes, and for state government functions. Sets forth rules relating to: (1)
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Sponsored by: Sen. Richard Burr
Sponsor Introductory Remarks On Measure. (cr S223) on 01/23/2013
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Real Estate Investment and Jobs Act of 2013 [S.1181]
[Real Estate ]
[Labor, Jobs, Employment ]
[Taxes ]
[Economic Development ]
Real Estate Investment and Jobs Act of 2013 - Amends the Internal Revenue Code to increase from 5% to 10% the allowable ownership interest in real estate investment trust (REIT) stock for purposes of tax exemptions allowed by the Foreign Investment in Real Property Tax Act relating to foreign investment in United States real property interests.
Sponsored by: Sen. Robert P. Casey
Read Twice And Referred To The Committee On Finance. on 06/18/2013
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Expressing the sense of the House that a Contract with America should restore American competitiveness. [HR-745]
[Taxes ]
[Immigration ]
[Energy ]
[Trade ]
[Infrastructure ]
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[Telecommunications ]
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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 addressing distortions and abuses in the international trading system; improving American logistics,
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Sponsored by: Rep. Tom Rice
Referred To The Subcommittee On Energy And Power. on 09/19/2014
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Patriot Corporations of America Act of 2013 [HB-929]
[Labor, Jobs, Employment ]
[Finance ]
[Taxes ]
[Consumer Protection ]
[Pensions ]
[Insurance ]
[Small Business ]
[Trade ]
[National Security ]
[Manufacturing ]
Patriot Corporations of America Act of 2013 - Grants after 2013 a preference to Patriot corporations in the evaluation of bids or proposals for federal contracts. Defines "Patriot corporation" as a corporation which: (1) produces at least 90% of its goods and services in the United States; (2) does not pay its its management-level employees at a rate more than 10,000% of the compensation of its lowest paid employee; (3) conducts at least 50% of its research and development in the United States; (4) contributes at least 5% of its payroll to a portable
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Sponsored by: Rep. Barbara Lee
Referred To The Committee On Ways And Means, And In Addition To The Committee On Oversight And Government Reform, For A Period To Be Subsequently Determined By The Speaker, In Each Case For Consideration Of Such Provisions As Fall Within The Jurisdiction Of The Committee Concerned. on 02/28/2013
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Free Trade With Cuba Act [HB-872]
[Trade ]
[International ]
[Human Rights ]
[Telecommunications ]
[Taxes ]
[Agriculture ]
[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
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Sponsored by: Rep. Raul M. Grijalva
Referred To The Subcommittee On Immigration And Border Security. on 04/08/2013
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Bring Jobs Home Act [HB-851]
[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: Rep. James R. Langevin
Referred To The House Committee On Ways And Means. on 02/27/2013
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Stop the Sequester Job Loss Now Act [HB-699]
[Budget and Spending ]
[Agriculture ]
[Energy ]
[Taxes ]
[Veterans ]
[Medicare and Medicaid ]
[Social Security ]
[Education ]
[Science ]
[Infrastructure ]
[Trade ]
[Food ]
Stop the Sequester Job Loss Now Act - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to repeal the FY2013 sequester and reduce the FY2014 sequester. Eliminates the 2% maximum permissible reduction in budget authority for veterans' medical care. Extends through FY2014 agricultural commodity programs generally under the Food, Conservation, and Energy Act of 2008, but not the direct payment programs for wheat, corn, grain sorghum, barley, oats, upland cotton, long and medium grain rice, soybeans, other
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Sponsored by: Rep. James R. Langevin
Referred To The Subcommittee On General Farm Commodities And Risk Management. on 03/01/2013