S. 397: Foreign Earnings Reinvestment Act
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S. 397: Foreign Earnings Reinvestment Act
114th Congress · introduced 2015-02-05 · Taxation · Latest: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S836)
federal
Follow this bill, step by step
- Where it came from: introduced 2015-02-05 · official record
- Who proposed it: Sen. McCain, John [R-AZ] · 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. (Sponsor introductory remarks on measure: CR S836) 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.
Official title
Foreign Earnings Reinvestment Act
Plain summary
Foreign Earnings Reinvestment Act Amends the Internal Revenue Code to: (1) extend the election allowed to a domestic corporation to deduct current and accumulated dividends received from a controlled foreign corporation to the corporation's last taxable year beginning before the enactment of this Act or the first taxable year which begins during the one-year period beginning on such enactment date, (2) reduce tax rates on foreign earnings of domestic corporations that reinvest such earnings in the United States and that expand their payrolls over 2014 levels, and (3) increase the taxable income of domestic corporations that fail to maintain employment levels in the 23-month period after receiving a reduction in tax rates under this Act.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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A “Nay” vote
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What does this mean? (plain words)
Official text
Foreign Earnings Reinvestment 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. McCain, John [R-AZ] · 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.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114s397.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>
Record fed-us-cong114-s397 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114