Bill115th CongressFiled Dec 21, 2018Taxation
S. 3804
A bill to reinstate the taxation of foreign oil related income, and for other purposes.
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Under committee review
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What it doesSummary introduced in senate (Dec 21, 2018)
This bill amends the Internal Revenue Code to reinstate provisions that tax certain foreign oil-related income as foreign base company income under Subpart F (i.e., income of a controlled foreign corporation earned outside the United States). The provisions were repealed in P.L. 115-197 (commonly referred to as the Tax Cuts and Jobs Act).
What just happenedDec 21, 2018
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Duckworth, Tammy [D-IL](D-IL)Sponsor
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- Introduced in SenateDec 21, 2018
- Dec 21, 2018IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Dec 21, 2018IntroReferral10000
Introduced in Senate