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Blocking New Corporate Tax Giveaways Act

USA116th CongressS-3280| Senate 
| Updated: 2/12/2020
Ron Wyden

Ron Wyden

Democratic Senator

Oregon

Cosponsors (1)
Sherrod Brown (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Blocking New Corporate Tax Giveaways Act This bill modifies the global intangible low-taxed income (GILTI) regime to provide that high-taxed amounts are excluded from tested income for purposes of determining GILTI only if such amounts are initially treated as foreign base company income or insurance income.
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Timeline
Feb 12, 2020
Introduced in Senate
Feb 12, 2020
Read twice and referred to the Committee on Finance.
  • February 12, 2020
    Introduced in Senate


  • February 12, 2020
    Read twice and referred to the Committee on Finance.

Taxation

Foreign and international corporationsSecuritiesTaxation of foreign income

Blocking New Corporate Tax Giveaways Act

USA116th CongressS-3280| Senate 
| Updated: 2/12/2020
Blocking New Corporate Tax Giveaways Act This bill modifies the global intangible low-taxed income (GILTI) regime to provide that high-taxed amounts are excluded from tested income for purposes of determining GILTI only if such amounts are initially treated as foreign base company income or insurance income.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 12, 2020
Introduced in Senate
Feb 12, 2020
Read twice and referred to the Committee on Finance.
  • February 12, 2020
    Introduced in Senate


  • February 12, 2020
    Read twice and referred to the Committee on Finance.
Ron Wyden

Ron Wyden

Democratic Senator

Oregon

Cosponsors (1)
Sherrod Brown (Democratic)

Finance Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Foreign and international corporationsSecuritiesTaxation of foreign income