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- S.2666
S.2666: Corporate Inverters Earnings Stripping Reform Act of 2016
About This Bill
- Introduced March 10, 2016
- Latest Major Action March 10, 2016
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
8 (All Democrats)
Bill Summary
Corporate Inverters Earnings Stripping Reform Act of 2016 This bill amends the Internal Revenue Code to impose limitations on the tax deduction for interest paid by corporations which are designated as applicable entities (i.e., members of an expanded affiliated group which includes a surrogate foreign corporation which is not treated as a domestic corporation). Such an entity may not claim a tax deduction for interest that exceeds 25% of its...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| March 10, 2016 |
Read twice and referred to the Committee on Finance.
|
| March 10, 2016 |
Introduced in the Senate by Charles E. Schumer (D-N.Y.) |