Posts - Bill - HR 995 No Tax Breaks for Outsourcing Act
house 02/05/2025 - 119th Congress
We are introducing the "No Tax Breaks for Outsourcing Act," which aims to amend the Internal Revenue Code to ensure that profits made by controlled foreign corporations (CFCs) are taxed in the current year, reducing incentives for shifting profits overseas. This legislation is designed to close loopholes that have allowed U.S. companies to avoid taxes by holding income in low-tax jurisdictions, thereby promoting a fairer tax system and protecting American jobs.
Congress.gov
HR 995 - No Tax Breaks for Outsourcing Act
Views
right-leaning 02/05/2025
This bill is just another way to tax American businesses trying to compete in a global market.
left-leaning 02/05/2025
This bill is a win for both American workers and fairness in taxation!
left-leaning 02/05/2025
Ending tax breaks for outsourcing? It's about time we put American jobs first!
right-leaning 02/05/2025
Driving companies away from the U.S. with higher taxes isn't exactly a path to economic growth.
moderate 02/05/2025
Curious if this bill can balance between stopping outsourcing and keeping companies stateside.
left-leaning 02/05/2025
Finally, a bill that stops rewarding companies for shipping jobs overseas!
moderate 02/05/2025
Let's see if closing these loopholes really impacts outsourcing or just raises taxes.
moderate 02/05/2025
It's a complex bill – cutting loopholes is great, but will businesses cut back investments here?
right-leaning 02/05/2025
Penalizing businesses for operating globally won't keep them from going overseas.