S. 3777: Export Products Not Jobs Act

109th Congress · introduced 2006-08-02 · Taxation · Latest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S8622-8626)

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Follow this bill, step by step

Where it came from: introduced 2006-08-02 · official record
Who proposed it: Sen. Kerry, John F. [D-MA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S8622-8626) Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Export Products Not Jobs Act

Plain summary

Export Products Not Jobs Act - Amends the Internal Revenue Code to: (1) revise rules and definitions relating to the taxation of controlled foreign corporations to limit deferral of tax for certain types of income earned overseas; (2) treat certain foreign corporations managed and controlled in the United States as domestic corporations for income tax purposes; (3) define "economic substance" for purposes of evaluating tax shelter transactions; (4) impose a penalty for underpayments of tax resulting from transactions lacking in economic substance; (5) deny a tax deduction for interest on such underpayments; and (6) eliminate the 35% income tax rate on corporations and personal service corporations.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

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What does this mean? (plain words)

Official text

Export Products Not Jobs Act

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Kerry, John F. [D-MA] · 0 cosponsors

Cost estimate: No cost estimate published yet.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-109s3777.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/109/s>

Record fed-us-cong109-s3777 · catalog fed-us-congress-bills-cong109 · updated 2026-11-15 by psicol fed-bills-cong109