A resolution congratulating the members of the 509th and 131st Bomb Wings for successfully completing Operation Midnight Hammer.

Defending American Jobs and Investment Act

This bill provides for the enforcement of remedies against foreign countries that have extraterritorial or discriminatory taxes.

Specifically, the bill requires the Department of the Treasury to periodically submit a report to Congress that lists each foreign country that has one or more extraterritorial or discriminatory taxes.

Treasury must commence enhanced bilateral engagement with each foreign country included in the report. This engagement must (1) express the concern of the United States with respect to the adverse trade and economic effects of tax policies that violate bilateral tax treaties and international tax norms, (2) urge the repeal of extraterritorial and discriminatory taxes that target U.S. persons, and (3) advise the foreign country of remedial actions (as outlined by this bill).

The bill increases income tax and withholding tax rates on certain foreign citizens, corporations, and partnerships of any foreign country listed in Treasury's report.

The bill provides the executive branch with additional tools to enforce against extraterritorial and discriminatory taxes. These tools include

• authorizing the President to prohibit government contracting for or procurement of goods or services from a foreign country listed in Treasury's report,
• directing Treasury to consider these taxes in assessing whether to enter into or update a bilateral tax treaty with the foreign country, and
• requiring the Office of the U.S. Trade Representative and the Department of Commerce to consider these taxes in assessing whether to enter into any free trade agreement or executive agreement with the foreign country.