To amend the Internal Revenue Code of 1986 to eliminate tax preferences for foreign profits by repealing the reduced rate of tax on foreign-derived intangible income and global intangible low-taxed income.
Close Tax Loopholes That Outsource American Jobs Act
This bill amends the Internal Revenue Code to repeal the tax deduction for a portion of a domestic corporation's foreign-derived intangible income and global intangible low-taxed income.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR H1732-1733)
Referred to the House Committee on Ways and Means.
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