A bill to amend the Internal Revenue Code of 1986 to modify and permanently extend the incentives to reinvest foreign earnings in the United States.
Rebuilding America 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 from 35% to 5% and make such lower rate permanent.
Referred to the Committee on Ways and Means, and in addition to the Committees on Oversight and Government Reform, House Administration, Rules, and the Budget, 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.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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