S. 409 · Where this bill is now
In committee
Introduced in the Senate, Feb 5, 2025
119th Congress
1st SessionS. 409
1st SessionS. 409
A BILL
No Tax Breaks for Outsourcing Act
In the SenateNo vote yet
Sponsor: Sen. Sheldon Whitehouse (D-RI) · Introduced Feb 5, 2025 · Taxation · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Feb 5, 2025: “Read twice and referred to the Committee on Finance.”
Sections
Sections · 6
- Sec. 1Short title, etcNo change
- Sec. 2Current year inclusion of net CFC tested incomeNo change
- Sec. 3Country-by-country application of limitation on foreign tax credit based on taxable unitsNo change
- Sec. 4Limitation on deduction of interest by domestic corporations which are members of an international financial reporting groupNo change
- Sec. 5Modifications to rules relating to inverted corporationsNo change
- Sec. 6Treatment of foreign corporations managed and controlled in the United States as domestic corporationsNo change