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S 3280 116th Congress Senate Taxation Foreign and international corporations Securities Taxation of foreign income

Blocking New Corporate Tax Giveaways Act

Introduced: February 12, 2020 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 12, 2020
Read twice and referred to the Committee on Finance.
Feb 12, 2020
Introduced in Senate
 Plain-English summary Congressional Research Service

Blocking New Corporate Tax Giveaways Act

This bill modifies the global intangible low-taxed income (GILTI) regime to provide that high-taxed amounts are excluded from tested income for purposes of determining GILTI only if such amounts are initially treated as foreign base company income or insurance income.

What's happening now February 12, 2020

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1