Congress: 99th

Sponsor: Representative Traficant, James A., Jr. (04/02/1985)

Committees: House - Ways and Means

Description: A bill to discourage domestic corporations from establishing foreign manufacturing subsidiaries in order to avoid Federal taxes by including in gross income of United States shareholders in foreign corporations the retained earnings of any such subsidiary which are attributable to manufacturing operations in runaway plants or tax havens, to provide that revenue from taxes imposed on such income shall be used to reduce the public debt and provide assistance to economically depressed areas, and for other purposes.

Lastest Action: 04/02/1985 Referred to House Committee on Ways and Means.  (All Actions)

Official: H.R.1914 -- 99th Congress