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HR 788 114th Congress House

Foreign Earnings Reinvestment Act

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

Introduced: February 5, 2015 See on congress.gov
Taxation Corporate finance and managementForeign and international corporationsIncome tax deductionsInterest, dividends, interest rates
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Taxation of foreign incomeUnemployment
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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
Feb 5, 2015
Referred to the House Committee on Ways and Means.
Feb 5, 2015
Introduced in House
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 Latest action February 5, 2015

Referred to the House Committee on Ways and Means.

 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 2014 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 1
  • S 397 Identical bill Foreign Earnings Reinvestment Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 788: Foreign Earnings Reinvestment Act. 114th Congress. Open America. https://openamerica.io/bill/114-HR-788/
MLA
"H.R. 788: Foreign Earnings Reinvestment Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-788/.
Bluebook (legal)
H.R. 788, 114th Cong. (2026), https://openamerica.io/bill/114-HR-788/.
Markdown link
[H.R. 788: Foreign Earnings Reinvestment Act](https://openamerica.io/bill/114-HR-788/)
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