A joint resolution proposing an amendment to the Constitution of the United States authorizing the Congress to prohibit the physical desecration of the flag of the United States.
- Last Action
- 6/14/2021
Actions
- 2021-01-22Read twice and referred to the Committee on Finance.
- 2021-01-22Introduced in Senate
CRS Summary
As of 2021-01-22 (00)
Removing Incentives for Outsourcing Act
This bill modifies the tax treatment of foreign source income of domestic corporations to (1) eliminate a provision that allows companies to deduct a portion of the tangible assets of their controlled foreign corporations (CFCs) before the tax on foreign income applies, and (2) require net CFC tested income to be determined on a country-by-country basis rather than globally.
The bill also requires the Joint Committee on Taxation to study options for reforming laws related to the taxation of income from international sources.
Cosponsors (2)
- Chris Van Hollen (D-MD)
- Tammy Duckworth (D-IL)
Subjects
- Congressional oversight
- Foreign and international corporations
- Income tax deductions
- Tax administration and collection, taxpayers
- Taxation of foreign income
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.