S. 3280 · 116th Congress
Blocking New Corporate Tax Giveaways Act
- Stage
- In committee
- Sponsor
- Ron Wyden
- Introduced
- 2020-02-12
- Latest action
- 2020-02-12 · Introduced in Senate
Summary
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.