S. 2786: Corporate Inverters Earnings Stripping Reform Act of 2014

113th Congress · introduced 2014-09-10 · Taxation · Latest: Read twice and referred to the Committee on Finance.

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Follow this bill, step by step

Where it came from: introduced 2014-09-10 · official record
Who proposed it: Sen. Schumer, Charles E. [D-NY] · 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. 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

Corporate Inverters Earnings Stripping Reform Act of 2014

Plain summary

Corporate Inverters Earnings Stripping Reform Act of 2014 - 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). Prohibits such an entity from claiming a tax deduction for interest that exceeds 25% of its adjusted taxable income and from carrying forward interest which is paid or accrued during the first year in which such entity becomes an applicable entity. Requires an applicable entity to file an annual application for an approval agreement (i.e., a prefiling, advance pricing, or other agreement involving a related-party transaction) with the Internal Revenue Service (IRS) during the 10-year period after it becomes an applicable entity.

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.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Corporate Inverters Earnings Stripping Reform Act of 2014

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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

Officials and money

Sponsor: Sen. Schumer, Charles E. [D-NY] · 14 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Richard J. Durbin (D-IL), Christopher A. Coons (D-DE), Jack Reed (D-RI), Edward J. Markey (D-MA), Jeff Merkley (D-OR), Tammy Baldwin (D-WI), Elizabeth Warren (D-MA)

Sponsor's campaign money: Sen. Schumer, Charles E. [D-NY] reported raising $1.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113s2786.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/s>

Record fed-us-cong113-s2786 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113