H.R. 6015 · 115th Congress
Per-Country Minimum Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DeFazioSponsor6 cosponsors · 6 D
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill modifies the tax treatment of foreign source income of domestic corporations to: (1) increase taxes that apply to global intangible income by reducing the deduction that is allowed under current law, (2) eliminate a provision that allows companies to deduct a portion of the tangible assets of their controlled foreign corporations (CFCs) before the…
What it does: CRS summary · Introduced in House · Jun 6, 2018
Per-Country Minimum Act
This bill modifies the tax treatment of foreign source income of domestic corporations to: (1) increase taxes that apply to global intangible income by reducing the deduction that is allowed under current law, (2) 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 (3) require net CFC tested income to be determined on a country-by-country basis rather than globally.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Per-Country Minimum Act
Latest action (Jun 6, 2018): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 6, 2018
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.