Ask AI
S. 561

Offshoring Prevention Act

Offshoring Prevention Act - Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.

Read twice and referred to the Committee on Finance.

Sen. Whitehouse, Sheldon [D-RI](D-RI)Sponsor
6 cosponsors6 D
6cosponsors1committees2actions3related bills3subjects
  • Introduced in SenateMar 14, 2013
  1. IntroReferral

    Read twice and referred to the Committee on Finance.

  2. IntroReferral10000

    Introduced in Senate

Offshoring Prevention Act — Informed