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No Tax Breaks for Outsourcing Act

This bill amends the Internal Revenue Code to provide for current year inclusion of net CFC tested income and removes tax breaks for outsourcing. It repeals the reduced tax rate on global intangible low-taxed income (GILTI), mandates a country-by-country application of foreign tax credit limitations, and limits interest deductions for members of international financial reporting groups. Additionally, the bill treats foreign corporations managed and controlled in the United States as domestic corporations.
Key points
Repeals the reduced tax rate on global intangible low-taxed income (GILTI) and mandates current year inclusion of such income.
Requires foreign tax credit limitations to be applied separately with respect to each country.
Strengthens rules regarding corporate inversions and limits interest deductions for domestic corporations in international financial reporting groups.
Treats foreign corporations managed and controlled primarily within the United States as domestic corporations for income tax purposes.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_1785
Sponsor: Rep. Doggett, Lloyd [D-TX-35]
Process start date: 2021-03-11
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OFFICIAL LEGAL TITLE

No Tax Breaks for Outsourcing Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1785.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-11.

What are the main provisions?

Key points include:

  • Repeals the reduced tax rate on global intangible low-taxed income (GILTI) and mandates current year inclusion of such income.
  • Requires foreign tax credit limitations to be applied separately with respect to each country.
  • Strengthens rules regarding corporate inversions and limits interest deductions for domestic corporations in international financial reporting groups.
  • Treats foreign corporations managed and controlled primarily within the United States as domestic corporations for income tax purposes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Doggett, Lloyd [D-TX-35].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Taxes Economy