S. 991: Corporate Tax Dodging Prevention Act
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S. 991: Corporate Tax Dodging Prevention Act
117th Congress · introduced 2021-03-25 · Taxation · Latest: Read twice and referred to the Committee on Finance.
federal
Follow this bill, step by step
- Where it came from: introduced 2021-03-25 · official record
- Who proposed it: Sen. Sanders, Bernard [I-VT] · 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.
Official title
Corporate Tax Dodging Prevention Act
Plain summary
Corporate Tax Dodging Prevention Act This bill modifies tax provisions relating to certain large domestic and foreign corporations to prevent offshoring of jobs and factories and tax evasion. Specifically, the bill restores higher tax rates on the taxable income of corporations and personal service corporations (up to 35% on taxable income exceeding $10 million); revises the definition of subpart F income for controlled foreign corporations to equalize tax rates on domestic and foreign corporations; requires multinational companies to disclose basic country-by-country information including revenues, profits, and number of employees; prohibits corporations from disregarding parts of their structure in determining whether they owe taxes in the current year or can defer payment (repeal of check-the-box rules); impose limitations on the tax deduction for the interest expense of members of financial reporting groups with excess domestic indebtedness; modifies rules relating to inverted corporations; treats corporations with gross assets of $50 million or more and managed and controlled in the United States as U.S. taxpayers; increases the rate and expands the applicability of the base erosion and anti-abuse excise tax; modifies foreign tax credit rules applicable to certain industries receiving specific economic benefits; and repeals the tax deduction for foreign-derived intangible income.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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What does this mean? (plain words)
Official text
Corporate Tax Dodging Prevention 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. Sanders, Bernard [I-VT] · 0 cosponsors
Cost estimate: No cost estimate published yet.
Sponsor's campaign money: Sen. Sanders, Bernard [I-VT] reported raising $26.5 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.
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 Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117s991.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>
Record fed-us-cong117-s991 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117