S. 1671 · 112th Congress
Foreign Earnings Reinvestment Act
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HaganSponsor11 cosponsors · 2 D, 9 R
R
Blunt
BB
D
Boxer
SB
R
Brown
LG
R
Graham
JI
R
Isakson
JM
R
McCain
LM
R
Murkowski
JM
D
Manchin
MJ
R
Johanns
DH
R
Heller
JB
R
Boozman8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Foreign Earnings Reinvestment Act - Amends the Internal Revenue Code to: (1) extend the election allowed to a domestic corporation to deduct current and accumulated dividends received from a controlled foreign corporation to the corporation's last taxable year beginning before the enactment of this Act or the first taxable year which begins during the…
What it does: CRS summary · Introduced in Senate · Oct 6, 2011
Foreign Earnings Reinvestment Act - Amends the Internal Revenue Code to: (1) extend the election allowed to a domestic corporation to deduct current and accumulated dividends received from a controlled foreign corporation to the corporation's last taxable year beginning before the enactment of this Act or the first taxable year which begins during the one-year period beginning on such enactment date, (2) reduce tax rates on foreign earnings of domestic corporations that reinvest such earnings in the United States and that expand their payrolls over 2010 levels, and (3) increase the taxable income of domestic corporations that fail to maintain employment levels in the 23-month period after receiving a reduction in tax rates under this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Foreign Earnings Reinvestment Act
Latest action (Oct 6, 2011): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Oct 6, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.