No Tax Breaks for Outsourcing Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 409 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 409 To amend the Internal Revenue Code of 1986 to provide for current year inclusion of net CFC tested income, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES February 5, 2025 Mr. Whitehouse (for himself, Mr. Durbin, Mr. Murphy, Mr. Reed, Ms. Baldwin, Ms. Warren, Mr. Merkley, Mr. Markey, Mr. Schatz, Mr. Fetterman, Mr. Blumenthal, Mr. Van Hollen, Mr. Gallego, Ms. Hirono, Mr. Heinrich, Mr. Booker, Ms. Smith, and Ms. Duckworth) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide for current year inclusion of net CFC tested income, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE, ETC. (a) Short Title.--This Act may be cited as the ``No Tax Breaks for Outsourcing Act''.…