Renounce tweeted this evening about Congressman Tierney’s proposal to do away with the Foreign Income Exclusion. That caught my eye, and so I inquired of Andy Sundberg and ACA. If you wonder why the Tax Code is over 72,000 pages, after you read this information he sent me, you will wonder no more..
Andy writes:
As you are probably aware, there are also five other Democrats in the Congress who have now signed on to support Congressman Tierney’s legislation to get rid of the foreign earned income exclusion.
.
Steve Cohen [D-TN9]
Keith Ellison [D-MN5]
Raul Grijalva [D-AZ7]
Jesse Jackson [D-IL2]
Betty McCollum [D-MN4]
But the problem is vastly bigger.
You should also be aware of the fact that lots of other legislation has been introduced during the current 112th Congress that addresses one or another variation on the theme of the taxation of foreign income. Forty seven of these are listed below.
This comes from a very fertile website named govtrack.us
You can sign up for free and follow the progress of all kinds of legislation here either by individual bill, or be generic subject category.
This is the link.
http://www.govtrack.us/congress/subjects.xpd?type=crs&term=Taxation+of+foreign+income
This is from their website on bills addressing foreign income:
Taxation of foreign income bills
Below are the 47 bills that are related to the “Taxation of foreign income” subject term. Click the Add Tracker button to the right to subscribe to this subject term.
The following is a list of current pending legislation in Congress. These bills and resolutions have been proposed by Members of Congress but may not have had any action taken on them on their path to becoming law. In fact, the vast majority of proposed legislation never becomes law.
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Bill
|
Status
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S. 1549: American Jobs Act of 2011 |
Reported by Committee
Sep 14, 2011
|
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S. 940: Close Big Oil Tax Loopholes Act |
Reported by Committee
May 11, 2011
|
|
S. 2091: United States Job Creation and International Tax Reform Act of 2012 |
Introduced
Feb 9, 2012
|
|
S. 2075: CUT Loopholes Act |
Introduced
Feb 7, 2012
|
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H.R. 3638: Act for the 99% |
Introduced
Dec 13, 2011
|
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S. 1960: Jobs Creation Act |
Introduced
Dec 7, 2011
|
|
H.R. 3460: American Jobs First Act of 2011 |
Introduced
Nov 17, 2011
|
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H.R. 3400: Jobs Through Growth Act |
Introduced
Nov 10, 2011
|
|
S. 1837: Rebuilding America Act |
Introduced
Nov 9, 2011
|
|
H.R. 3338: Stop Outsourcing and Create American Jobs Act of 2011 |
Introduced
Nov 3, 2011
|
|
S. 1671: Foreign Earnings Reinvestment Act |
Introduced
Oct 6, 2011
|
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S. 1616: Real Estate Investment and Jobs Act of 2011 |
Introduced
Sep 22, 2011
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|
H.R. 3020: Puerto Rico Investment Promotion Act of 2011 |
Introduced
Sep 22, 2011
|
|
H.R. 2989: Real Estate Jobs and Investment Act of 2011 |
Introduced
Sep 21, 2011
|
|
H.R. 12: American Jobs Act of 2011 |
Introduced
Sep 21, 2011
|
|
H.R. 2862: Putting America Back to Work Act of 2011 |
Introduced
Sep 7, 2011
|
|
H.R. 2735: To amend the Internal Revenue Code of 1986 to make permanent the look-through treatment of payments between related controlled foreign corporations. |
Introduced
Aug 1, 2011
|
|
H.R. 2669: Stop Tax Haven Abuse Act |
Introduced
Jul 27, 2011
|
|
H.R. 2632: Life Sciences Jobs and Investment Act of 2011 |
Introduced
Jul 25, 2011
|
|
S. 1410: Life Sciences Jobs and Investment Act of 2011 |
Introduced
Jul 25, 2011
|
|
S. 1373: International Tax Competitiveness Act of 2011 |
Introduced
Jul 14, 2011
|
|
S. 1346: Stop Tax Haven Abuse Act |
Introduced
Jul 12, 2011
|
|
H.R. 2495: Tax Equity and Middle Class Fairness Act of 2011 |
Introduced
Jul 11, 2011
|
|
H.R. 2280: Offshoring Prevention Act |
Introduced
Jun 22, 2011
|
|
H.R. 2230: Internet Gambling Regulation and Tax Enforcement Act of 2011 |
Introduced
Jun 16, 2011
|
|
H.R. 1887: Free Trade With Cuba Act |
Introduced
May 12, 2011
|
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H.R. 1889: Gas Tax Holiday Act |
Introduced
May 12, 2011
|
|
H.R. 1834: Freedom to Invest Act of 2011 |
Introduced
May 11, 2011
|
|
H.R. 1813: Gas Price Relief Act of 2011 |
Introduced
May 10, 2011
|
|
S. 727: Bipartisan Tax Fairness and Simplification Act of 2011 |
Introduced
Apr 5, 2011
|
|
H.R. 1163: Patriot Corporations of America Act of 2011 |
Introduced
Mar 17, 2011
|
|
S. 626: American Shipping Reinvestment Act of 2011 |
Introduced
Mar 17, 2011
|
|
H.R. 1036: Job Creation and Innovation Investment Act of 2011 |
Introduced
Mar 11, 2011
|
|
H.R. 1031: American Shipping Reinvestment Act of 2011 |
Introduced
Mar 11, 2011
|
|
H.R. 937: Rising Tides Act of 2011 |
Introduced
Mar 4, 2011
|
|
H.R. 936: Stop Taxing American Assistance to Afghanistan Act |
Introduced
Mar 3, 2011
|
|
H.R. 749: To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income. |
Introduced
Feb 16, 2011
|
|
H.R. 601: End Big Oil Tax Subsidies Act of 2011 |
Introduced
Feb 10, 2011
|
|
S. 258: Close Big Oil Tax Loopholes Act |
Introduced
Feb 2, 2011
|
|
S. 45: Offshoring Prevention Act |
Introduced
Jan 25, 2011
|
|
S.Res. 25: A resolution expressing the sense of the Senate that comprehensive tax reform legislation should include incentives for companies to repatriate foreign earnings for the purpose of creating new jobs. |
Introduced
Jan 25, 2011
|
|
S. 13: Fair Tax Act of 2011 |
Introduced
Jan 25, 2011
|
|
H.R. 255: Cuba Reconciliation Act |
Introduced
Jan 7, 2011
|
|
H.R. 25: Fair Tax Act of 2011 |
Introduced
Jan 5, 2011
|
|
H.R. 64: To amend the Internal Revenue Code of 1986 to prevent corporations from exploiting tax treaties to evade taxation of United States income. |
Introduced
Jan 5, 2011
|
|
H.R. 99: Fair and Simple Tax Act of 2011 |
Introduced
Jan 5, 2011
|
|
H.R. 62: International Tax Competitiveness Act of 2011 |
Introduced
Jan 5, 2011
|
|
@all…
BTW, for those looking for the Hale Sheppard’s article on “The Foreign Earned Income Exclusion: U.S. International Tax Policy, Political Reality, and the Need to Understand How the Two Intertwine”
That is number 37 on his list of 70 publications.
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