S 2235 · 108th Congress · Foreign Trade and International Finance

Domestic Workforce Protection Act

Introduced 2004-03-25· Sponsored by Sen. Hollings, Ernest F. [D-SC]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3186-3188)(2004-03-25)

Plain Language Summary

[AI summary unavailable — showing source text] Domestic Workforce Protection Act - Renames the Department of Commerce as the Department of Trade and Commerce. Redesignates the Secretary of Commerce or any other official of the Department as the Secretary or official, as appropriate, of Trade and Commerce. Amends the Trade Act of 1974 to transfer the Office of the U.S. Trade Representatives from the Executive Office of the President to the Department of Trade and Commerce. Amends the Internal Revenue Code to revise tax rules for determining amounts included in the gross income of U.S. shareholders of controlled foreign corporations. Disallows a tax deduction for certain royalty payments made by a corporation to an affiliated entity organized and operated outside the United States. Authorizes the Secretary of the Treasury to deny tax benefits for corporations that attempt to avoid U.S. taxation through the use of tax havens. Requires the Attorney General to appoint an Assistant Attorney General for Trade. Provides for employment of additional customs inspectors to detect and prevent illegal transshipments of textiles. Requires the Secretary of Commerce to develop and implement a program to encourage and support increased domestic…

Summarized by Claude AI · Non-partisan · For informational purposes only