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S 780 116th Congress Senate Taxation Accounting and auditing Corporate finance and management Foreign and international corporations Income tax credits Income tax deductions Interest, dividends, interest rates Oil and gas Tax administration and collection, taxpayers Taxation of foreign income U.S. and foreign investments

No Tax Breaks for Outsourcing Act

Introduced: March 13, 2019 Introduced by: Whitehouse, Sheldon Democratic · Rhode Island See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 13, 2019
Read twice and referred to the Committee on Finance.
Mar 13, 2019
Introduced in Senate
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 Plain-English summary Congressional Research Service

No Tax Breaks for Outsourcing Act

This bill modifies the tax treatment of the foreign source income of domestic corporations. The bill includes provisions that

  • eliminate an exemption for certain returns from tangible investments made overseas,
  • eliminate deductions for a domestic corporation's foreign-derived intangible income and global intangible low-taxed income,
  • repeal a provision that excludes foreign oil and gas extraction income from the tested income of a controlled foreign corporation,
  • limit the tax deduction for the interest expenses of a U.S. corporation that is a member of a financial reporting group (i.e., a group that prepares consolidated financial statements according to generally accepted accounting principles or international financial reporting standards),
  • modify the rules for the taxation of inverted corporations (U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States), and
  • treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes.
What's happening now March 13, 2019

Read twice and referred to the Committee on Finance.

 Related & companion bills 3
  • HR 1712 Related bill Stop Tax Haven Abuse Act
  • S 2140 Related bill Stop Corporate Inversions Act of 2019
  • HR 1711 Identical bill No Tax Breaks for Outsourcing Act
 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 · Jan 16, 2020
 D
Van Hollen, Chris
Maryland · Mar 13, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). S. 780: No Tax Breaks for Outsourcing Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-780/
MLA
"S. 780: No Tax Breaks for Outsourcing Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-780/.
Bluebook (legal)
S. 780, 116th Cong. (2026), https://openamerica.io/bill/116-S-780/.
Markdown link
[S. 780: No Tax Breaks for Outsourcing Act](https://openamerica.io/bill/116-S-780/)
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