H.R. 5545: Preventing Investment in Terrorist Regimes Act

114th Congress · introduced 2016-06-21 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

Where it came from: introduced 2016-06-21 · official record
Who proposed it: Rep. Boustany, Charles W., Jr. [R-LA-3] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Ways and Means. 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

Preventing Investment in Terrorist Regimes Act

Plain summary

Preventing Investment in Terrorist Regimes Act This bill amends the Internal Revenue Code to modify the rules that apply to income derived from foreign countries designated as sponsors of international terrorism or with whom the United States does not have diplomatic relations. The bill: (1) disallows a foreign tax credit for taxes paid to any country on income derived from one of the countries subject to the rules, (2) denies a deduction for the disallowed foreign tax credits, (3) doubles the tax rate on income derived from the countries subject to the rules, (4) and expands the definition of income derived from the countries. The bill also eliminates the authority of the President to waive the denial of foreign tax credits with respect to taxes paid or accrued to a country that the Department of State has designated as a foreign country that repeatedly provides support for international terrorism. (Under current law, a waiver is permitted if the President determines that it is in the national interest of the United States and will expand trade and investment opportunities for U.S. companies in the country.)

Congressional Research Service summary (Introduced in House), 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

Preventing Investment in Terrorist Regimes Act

Source: Congressional Research Service summary (Introduced in House)

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

Officials and money

Sponsor: Rep. Boustany, Charles W., Jr. [R-LA-3] · 12 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Vern Buchanan (R-FL), Todd Young (R-IN), Adrian Smith (R-NE)

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 (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
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 House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr5545.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr5545 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114