US SB1673 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on July 31 2017 - 25% progression, died in committee
Action: 2017-07-31 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 31 2017 - 25% progression, died in committee
Action: 2017-07-31 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Pay What You Owe Before You Go Act This bill amends the Internal Revenue Code to require the recapture in subpart F income (i.e., income of a controlled foreign corporation earned outside the United States which is not tax deferred) of the accumulated deferred foreign income of such corporation (i.e., the undistributed earnings of the controlled foreign corporation over its undistributed U.S. earnings) for its last taxable year.
Title
Pay What You Owe Before You Go Act
Sponsors
| Sen. Sherrod Brown [D-OH] | Sen. Richard Durbin [D-IL] | Sen. Chris Van Hollen [D-MD] |
History
| Date | Chamber | Action |
|---|---|---|
| 2017-07-31 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
Corporate finance and management
Foreign and international corporations
Taxation
Taxation of foreign income
Foreign and international corporations
Taxation
Taxation of foreign income
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/115th-congress/senate-bill/1673/all-info |
| Text | https://www.congress.gov/115/bills/s1673/BILLS-115s1673is.pdf |
