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S 2662 114th Congress Senate

Pay What You Owe Before You Go Act

Official title: A bill to amend the Internal Revenue Code to include in income the unrepatriated earnings of groups that include an inverted corporation.

Introduced: March 10, 2016 See on congress.gov
Taxation Corporate finance and managementForeign and international corporationsTaxation of foreign income
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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
Mar 10, 2016
Read twice and referred to the Committee on Finance.
Mar 10, 2016
Introduced in Senate
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 Latest action March 10, 2016

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2
D
Durbin, Richard J.
Illinois · Mar 10, 2016
 D
Schumer, Charles E.
New York · Mar 10, 2016
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2662: Pay What You Owe Before You Go Act. 114th Congress. Open America. https://openamerica.io/bill/114-S-2662/
MLA
"S. 2662: Pay What You Owe Before You Go Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-2662/.
Bluebook (legal)
S. 2662, 114th Cong. (2026), https://openamerica.io/bill/114-S-2662/.
Markdown link
[S. 2662: Pay What You Owe Before You Go Act](https://openamerica.io/bill/114-S-2662/)
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