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S. 1671 112th Congress Senate

Foreign Earnings Reinvestment Act

Official title: A bill to amend the Internal Revenue Code of 1986 to allow a temporary dividends received deduction for dividends received from a controlled foreign corporation.

Introduced: October 6, 2011 See on congress.gov
Taxation Corporate finance and managementIncome tax deductionsInterest, dividends, interest ratesTaxation of foreign incomeUnemployment
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 6, 2011
Read twice and referred to the Committee on Finance.
Oct 6, 2011
Introduced in Senate
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 Latest action October 6, 2011

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 2
  • HR 1834 Freedom to Invest Act of 2011
  • HR 6474 Implementation of Simpson-Bowles Spending Reductions Act of 2012
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Republican 3
R
Boozman, John
Arkansas · Nov 3, 2011
 R
Graham, Lindsey
South Carolina · Oct 6, 2011
Isakson, Johnny
· Oct 6, 2011
 R
Murkowski, Lisa
Alaska · Oct 6, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1671: Foreign Earnings Reinvestment Act. 112th Congress. Open America. https://openamerica.io/bill/112-S-1671/
MLA
"S. 1671: Foreign Earnings Reinvestment Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-1671/.
Bluebook (legal)
S. 1671, 112th Cong. (2026), https://openamerica.io/bill/112-S-1671/.
Markdown link
[S. 1671: Foreign Earnings Reinvestment Act](https://openamerica.io/bill/112-S-1671/)
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