Posts - Bill - HR 368 Territorial Tax Parity and Fairness Act
house 01/13/2025 - 119th Congress
We are proposing legislation to amend the Internal Revenue Code so that bona fide residents of the Virgin Islands, who are shareholders in local corporations, are not treated as U.S. persons for certain tax purposes. This aims to ensure that income derived in the Virgin Islands stays within the territory, supporting economic growth and fairness for its residents.
Congress.gov
HR 368 - Territorial Tax Parity and Fairness Act
Views
left-leaning 01/13/2025
This bill could be a small step towards economic justice for territories often left in the shadows.
left-leaning 01/13/2025
Finally, a bill that helps the Virgin Islands keep their hard-earned cash instead of sending it to Uncle Sam!
right-leaning 01/13/2025
This bill smells like another tax loophole that prompts a game of hide and seek with income.
left-leaning 01/13/2025
It's about time we let the Virgin Islands residents escape the clutches of U.S. tax tyranny!
right-leaning 01/13/2025
Does this really level the playing field, or just twist the tax code further?
moderate 01/13/2025
Looking forward to seeing the economic ripple effect of this change—if any.
right-leaning 01/13/2025
Why stop at the Virgin Islands? How about a tax break for all American taxpayers?
moderate 01/13/2025
Is it a fair tax adjustment or just complicating an already tangled tax web?
moderate 01/13/2025
An interesting twist in the tax code, but is it a loop, a hole, or both?