Proposal:Blocking New Corporate Tax Giveaways Act

This proposal is archived and closed to further debate. It was introduced in the 116th Congress, which has concluded, and the bill was not enacted into law.

Bill	S 3280
Type of Legislation	Senate Bill
Congress	116
Source	View original on Congress.gov

Geographic Scope

National

Description

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.

Bill Title

Blocking New Corporate Tax Giveaways Act

Linked Goals

• Goal:Promote General Welfare

Steps

• 2020-02-12: Read twice and referred to the Committee on Finance.
• 2020-02-12: Introduced in Senate

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.