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H.R. 884 · 118th Congress

No Tax Breaks for Outsourcing Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

LDD DoggettSponsor
140 cosponsors · 140 D
AAD Adams EBD Blumenauer JBD Bowman CBD Bush SBD Bonamici JBD Beatty BBD Boyle NBD Barragán SBD Brown NND (Nikki) Budzinski ECD Case ECD Cleaver YCD Clarke SCD Cohen JCD Courtney ACD Carson JCD Chu DCD Cicilline MCD Cartwright JCD Crow TCD Carter GCD Casar DDD Davis DDD DeGette RDD DeLauro CDD Deluzio MDD DeSaulnier DDD Dingell MDD Dean DED Evans AED Espaillat VED Escobar BFD Foster LFD Frankel MFD Frost RGD Grijalva AGD Green JGD Garamendi RGD Gallego JGD Gomez CGD García SGD Garcia JGD Golden RGD Garcia BHD Higgins JHD Huffman JHD Hayes VHD Hoyle GID Ivey SJD Jackson Lee HJD Johnson PJD Jayapal MKD Kaptur RKD Kelly RKD Khanna AKD Kim TLD Leger Fernandez BLD Lee JLD Larson SLD Lynch TLD Lieu JMD McGovern KMD Mfume GMD Meeks BMD McCollum GMD Meng SMD Moulton FMD Mrvan JND Nadler END Norton GND Napolitano DND Norcross JND Neguse WND Nickel AOD Ocasio-Cortez IOD Omar FPD Pallone CPD Pingree MPD Pocan KPD Porter NVD Velázquez JVD Vargas MWD Waters NWD Williams FWD Wilson BWD Watson Coleman SWD Wild APD Pressley JRD Raskin BSD Sherman JSD Schakowsky ASD Schiff DSD Scott JSD Sarbanes DSD Soto MSD Scanlon HSD Stevens MSD Stansbury ASD Salinas BTD Thompson DTD Titus PTD Tonko MTD Takano NTD Torres RTD Tlaib DTD Trone JTD Tokuda BBD Balint DRD Ross GLD Landsman DRD Ramirez SMD Magaziner PRD Ryan AED Eshoo DGD Goldman SLD Lee LTD Trahan STD Thanedar MMD McGarvey DPD Payne LBD Blunt Rochester VFD Foushee JCD Crockett SHD Horsford ASD Smith ESD Sorensen MLD Levin RTD Torres SCD Cherfilus-McCormick JJD Jackson DDD Davis JJD Jackson ESD Sykes MGD Gluesenkamp Perez RMD Menendez YCD Caraveo SDD DelBene DWD Wasserman Schultz JBD Brownley TKD Kennedy

87 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill modifies the tax treatment of the foreign source income of domestic corporations. The bill includes provisions that

What it does: CRS summary · Introduced in House · Feb 9, 2023

No Tax Breaks for Outsourcing Act

This bill modifies the tax treatment of the foreign source income of domestic corporations. The bill includes provisions that

  • modify calculations of the gross income of U.S. shareholders to include net controlled foreign corporation (CFC) tested income in the current taxable year;
  • apply limitations on the foreign tax credit on a country-by-country basis;
  • limit the tax deduction for the interest expense of a U.S. corporation that is a member of an international financial reporting group (i.e., a group that prepares consolidated financial statements according to generally accepted accounting principles or international financial reporting standards);
  • modify the rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States); and
  • treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: No Tax Breaks for Outsourcing Act

Latest action (Feb 9, 2023): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Feb 9, 2023

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.