[Congressional Record Volume 163, Number 194 (Wednesday, November 29, 2017)]
[Senate]
[Page S7411]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1603. Mr. INHOFE submitted an amendment intended to be proposed by 
him to the bill H.R. 1, to provide for reconciliation pursuant to 
titles II and V of the concurrent resolution on the budget for fiscal 
year 2018; which was ordered to lie on the table; as follows:

       On page __, strike line __, and insert the following:
       ``(9) Safe harbor for domestic members of worldwide 
     affiliated group.--
       ``(A) In general.--In the case of a taxpayer which is a 
     domestic corporation which is a member of a worldwide 
     affiliated group, this subsection shall not apply to such 
     taxpayer if the ratio of debt to equity of all domestic 
     corporations which are members of such group does not exceed 
     such ratio of all corporations which are members of such 
     group.
       ``(B) Ratio of debt to equity.--For purposes of this 
     paragraph, the ratio of debt to equity means the ratio which 
     total indebtedness bears to total equity, determined in the 
     same manner as subsection (n).
       ``(C) Definition and special rule.--For purposes of this 
     paragraph--
       ``(i) Worldwide affiliated group.--The term `worldwide 
     affiliated group' has the same meaning given such term by 
     subsection (n)(4)(A).
       ``(ii) Domestic members of affiliated group treated as 1 
     taxpayer.--The rule of subsection (n)(5) shall apply.
       ``(10) Cross references.--
                                 ______