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S 20 117th Congress Senate Taxation Congressional oversight Foreign and international corporations Income tax deductions Tax administration and collection, taxpayers Taxation of foreign income

Removing Incentives for Outsourcing Act

Introduced: January 22, 2021 Introduced by: Klobuchar, Amy Democratic · Minnesota See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Jan 22, 2021
Read twice and referred to the Committee on Finance.
Jan 22, 2021
Introduced in Senate
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 Plain-English summary Congressional Research Service

Removing Incentives for Outsourcing Act

This bill modifies the tax treatment of foreign source income of domestic corporations to (1) eliminate a provision that allows companies to deduct a portion of the tangible assets of their controlled foreign corporations (CFCs) before the tax on foreign income applies, and (2) require net CFC tested income to be determined on a country-by-country basis rather than globally.

The bill also requires the Joint Committee on Taxation to study options for reforming laws related to the taxation of income from international sources.

What's happening now January 22, 2021

Read twice and referred to the Committee on Finance.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2
D
Duckworth, Tammy
Illinois · Apr 12, 2021
 D
Van Hollen, Chris
Maryland · Apr 12, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 20: Removing Incentives for Outsourcing Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-20/
MLA
"S. 20: Removing Incentives for Outsourcing Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-20/.
Bluebook (legal)
S. 20, 117th Cong. (2026), https://openamerica.io/bill/117-S-20/.
Markdown link
[S. 20: Removing Incentives for Outsourcing Act](https://openamerica.io/bill/117-S-20/)
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