3.0.0 397 2023-01-11T13:28:23Z 2023-01-11T13:28:23Z Senate S 2015-02-05 114 ssfi00 Finance Committee Senate Standing Referred to 2015-02-05T19:48:40Z Foreign Earnings Reinvestment Act 114 788 HR 2015-02-05 Referred to the House Committee on Ways and Means. Identical bill CRS 2015-02-05 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S836) IntroReferral 2015-02-05 Introduced in Senate IntroReferral 10000 9 Library of Congress M000303 Sen. McCain, John [R-AZ] JOHN MCCAIN R AZ SIDNEY N Taxation Corporate finance and management Foreign and international corporations Income tax deductions Interest, dividends, interest rates Taxation of foreign income Unemployment Taxation 00 2015-02-05 Introduced in Senate 2015-03-25T15:23:24Z 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.

]]> Foreign Earnings Reinvestment Act Display Title Foreign Earnings Reinvestment Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to allow a temporary dividends received deduction for dividends received from a controlled foreign corporation. Introduced in Senate IS Short Titles as Introduced Foreign Earnings Reinvestment Act Introduced in Senate 2015-02-05T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s397is/xml/BILLS-114s397is.xml 2015-02-05 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S836) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.