S 20 · 117th Congress

Removing Incentives for Outsourcing Act

<p><b>Removing Incentives for Outsourcing Act </b></p> <p>This bill modifies the tax treatment of foreign source income of domestic corporations to (1) 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 inc…

Sponsor

Klobuchar, Amy (D-MN)

Introduced

2021-01-22

Policy area

Taxation

Latest action

Read twice and referred to the Committee on Finance.