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Removing Incentives for Outsourcing Act This bill modifies the tax treatment of foreign source income of domestic corporations to (1) eliminate a provision that allows companies to deduct a portion of the tangible assets of their controlled foreign corporations (CFCs) before the tax on foreign income applies, and (2) require net CFC tested income to be determined on a country-by-country basis rather than globally. The bill also requires the Joint Committee on Taxation to study options for reforming laws related to the taxation of income from international sources.

No Tax Breaks for Outsourcing Act This bill modifies the tax treatment of the foreign source income of domestic corporations. The bill includes provisions that * eliminate an exemption for certain returns from tangible investments made overseas, * eliminate deductions for a domestic corporation's foreign-derived intangible income and global intangible low-taxed income, * repeal a provision that excludes foreign oil and gas extraction income from the tested income of a controlled foreign corporation, * limit the tax deduction for the interest expenses of a U.S. corporation that is a member of a financial reporting group (i.e., a group that prepares consolidated financial statements according to generally accepted accounting principles or international financial reporting standards), * modify the rules for the taxation of inverted corporations (U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States), and * treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes.

No Tax Breaks for Outsourcing Act This bill modifies the tax treatment of the foreign source income of domestic corporations. The bill includes provisions that * eliminate an exemption for certain returns from tangible investments made overseas, * eliminate deductions for a domestic corporation's foreign-derived intangible income and global intangible low-taxed income, * repeal a provision that excludes foreign oil and gas extraction income from the tested income of a controlled foreign corporation, * limit the tax deduction for the interest expenses of a U.S. corporation that is a member of a financial reporting group (i.e., a group that prepares consolidated financial statements according to generally accepted accounting principles or international financial reporting standards), * modify the rules for the taxation of inverted corporations (U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States), and * treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes.

No Taxation Without Representation Act This bill excludes from the gross income of bona fide residents of the District of Columbia income derived from sources within the District of Columbia and income connected with a trade or business in the District of Columbia.

This bill amends the Internal Revenue Code to provide that installment payment of taxes on deferred foreign income shall not prevent a credit or refund of overpayments of tax or an increase in estimated taxes.

Stop Corporate Inversions Act of 2019 This bill amends the Internal Revenue Code to revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States). The bill provides that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.

This bill amends the Internal Revenue Code to make permanent the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).

Tax Parity for U.S. Mutual Funds Act of 2020 This bill establishes international regulated investment companies (IRICs) and specifies rules for the taxation of such companies. An IRIC is a regulated investment company (i.e., a mutual fund) that has all of its outstanding stock held by foreign shareholders, including nonresident alien individuals (and their foreign estates) and qualified foreign pension funds, and meets other specified requirements.

Transparency in Executive Branch Official Finances Act This bill establishes disclosure requirements for the President, Vice President, and senior government officials, and it establishes penalties for political appointees who engage in certain conduct. Specifically, the bill requires the President and Vice President, and any candidate for such offices, to disclose their federal income tax returns for the previous five years. The Office of Government Ethics must publish such tax returns after making redactions to prevent identity theft or physical danger. In addition, the bill requires senior government officials to make certain disclosures with respect to (1) any foreign business relationship, and (2) any ownership interest of at least 10% of the outstanding shares in a private enterprise or corporation or any intellectual property protected or enforced by a foreign country. Further, the bill establishes penalties for any political appointee who solicits or receives a payment from a foreign-owned business, organization affiliated with a foreign-owned business or foreign government, or a foreign national.

Stop Tax Haven Abuse Act This bill authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. The bill amends the Internal Revenue Code to * expand reporting requirements for certain foreign investments and accounts held by U.S. persons, * establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act, * treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes, * treat swap payments sent offshore as taxable U.S. source income, * require reporting of United States beneficial owners of foreign-owned financial accounts, * impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons), and * modify the rules for the taxation of inverted corporations (U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States). The bill amends the Securities Exchange Act of 1934 to (1) require corporations to disclose certain financial information on a country-by-country basis, and (2) impose penalties for failing to disclose offshore holdings. The bill makes investment advisers and persons engaged in forming new business entities subject to new anti-money laundering requirements.

Stop Tax Haven Abuse Act This bill authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. The bill amends the Internal Revenue Code to * expand reporting requirements for certain foreign investments and accounts held by U.S. persons, * establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act, * treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes, * treat swap payments sent offshore as taxable U.S. source income, * require reporting of United States beneficial owners of foreign-owned financial accounts, * impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons), and * modify the rules for the taxation of inverted corporations (U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States). The bill amends the Securities Exchange Act of 1934 to (1) require corporations to disclose certain financial information on a country-by-country basis, and (2) impose penalties for failing to disclose offshore holdings. The bill makes investment advisers and persons engaged in forming new business entities subject to new anti-money laundering requirements.

This resolution expresses support for the goals of a feminist foreign policy and outlines the governmental efforts necessary to ensure that these goals are met.

Foreign Influence Transparency Act This bill addresses foreign influence in higher education and in certain other academic, religious, and artistic pursuits. Current law exempts from foreign agent registration requirements a person engaging in activities in furtherance of religious, scholastic, academic, or scientific pursuits or of the fine arts. The bill specifies that this exemption applies only to those activities that do not promote the political agenda of a foreign government. Under current law, an institution of higher education is required to disclose to the Department of Education a gift or contract that is from a foreign source and is valued at $250,000 or more, considered alone or in combination with all other gifts from or contracts with a foreign source. The bill instead requires the institution to disclose such a gift or contract that is valued at $50,000 or more. An institution must include in its disclosure report the contents of any such contract and make the contents available for public disclosure.

Foreign Influence Transparency Act This bill addresses foreign influence in higher education and in certain other academic, religious, and artistic pursuits. Current law exempts from foreign agent registration requirements a person engaging in activities in furtherance of religious, scholastic, academic, or scientific pursuits or of the fine arts. The bill specifies that this exemption applies only to those activities that do not promote the political agenda of a foreign government. Under current law, an institution of higher education is required to disclose to the Department of Education a gift or contract that is from a foreign source and is valued at $250,000 or more, considered alone or in combination with all other gifts from or contracts with a foreign source. The bill instead requires the institution to disclose such a gift or contract that is valued at $50,000 or more. An institution must include in its disclosure report the contents of any such contract and make the contents available for public disclosure.

Foreign Entities Reform Act of 2019 This bill requires broadcast, cable, and satellite companies to publicly disclose the source of content from foreign agents that is distributed to American consumers. In addition, such companies must report all requests for broadcast, cablecast, or origination time made by or on behalf of foreign agents.

Foreign Service Families Act of 2019 This bill directs the Department of State to include in the Foreign Affairs Manual an updated plan for providing telecommuting employment opportunities for the spouses of overseas Foreign Service Officers. The State Department shall facilitate employment of such spouses by providing regular career counseling, maintaining a centralized database of the skills of such spouses and available employment opportunities, and offering other employment-related assistance. (Currently, the State Department is authorized to provide such assistance but not required to do so.) The State Department shall establish a program to help such spouses access employment and education opportunities, modeled after already-authorized programs for military spouses. The State Department shall report to Congress on the status of the implementation of the Foreign Service Family Reserve Corps (a program designed to speed up the hiring process for eligible family members of overseas Foreign Service officers), including (1) an update on the implementation of a hiring preference for Corps members, and (2) an accounting of any Corps-eligible individuals who were unable to fill a position at new location due to an inability to transfer a security clearance. Family members of overseas government employees shall not be held to a higher employment standard for positions customarily filled by Foreign Service officers, Foreign Service personnel, or foreign nationals.

Rewards for Providing Information on Foreign Election Interference Act This bill authorizes the Department of State to pay a reward to anyone who furnishes certain information relating to foreign election interference by a foreign entity or an individual who is not a U.S. person. Foreign election interference is conduct by a foreign person that (1) violates federal criminal, voting rights, or campaign finance law; or (2) is performed by any person acting as an agent of or on behalf of a foreign government or criminal enterprise. Such conduct may include any covert, fraudulent, deceptive, or unlawful act undertaken with the purpose or effect of undermining public confidence in election processes or institutions.

Fair Trade with China Enforcement Act This bill revises trade, finance, and tax provisions with respect to China. The bill directs the Department of Commerce to prohibit the export of certain U.S. technology and intellectual property to China. The bill places a shareholder cap on Chinese investments in certain U.S. corporations. Federal agencies are prohibited from using or procuring telecommunications equipment or services from Huawei Technologies Company, ZTE Corporation, or any other entity reasonably believed to be owned or controlled by China. The bill requires the U.S. Trade Representative to list certain Chinese products that receive support pursuant to China's Made in China 2025 policy. The bill aexpedites the countervailing duty process (i.e., the imposition of duties to offset a subsidy by a foreign government) for products on such a list. The bill amends the Internal Revenue Code to * repeal certain reduced withholding rates for residents of China, * tax income received by China from certain U.S. investments, and * tax income derived from certain Chinese investments. The bill also allows U.S. courts to hear cases against certain entities or corporate affiliates of a foreign state.

Stopping Foreign Businesses Sanctuary Act of 2019 This bill eliminates immunity from suit in U.S. courts for certain foreign entities, and their corporate affiliates, that are state-owned or state-controlled. Specifically, the bill provides for jurisdiction in U.S. courts over foreign entities that (1) conduct commercial activity in the United States, and (2) are incorporated in a foreign state in which state-owned or state-controlled entities commonly engage in commercial activity.

This bill excludes from gross income, for income tax purposes, gains from distributions of intangible property by controlled foreign corporations to U.S. domestic corporations. The bill definesintangible propertyto include patents, copyrights, licenses, formulas, computer software, and similar items with substantial value.

Foreign Extortion Prevention Act This bill makes it a crime for foreign officials to demand or accept bribes to influence an official act or violate an official duty. An individual who violates this provision is subject to criminal penalties—a fine, a prison term of up to two years, or both.

Foreign Robocall Elimination Act This bill requires the Federal Communications Commission to establish an interagency task force to study the most effective ways to combat unlawful robocalls made into the United States from foreign sources.

Prohibiting Foreign Election Assistance Act of 2019 This bill specifies that information sought or obtained for a political advantage is included in the ban on foreign contributions to an election, and establishes penalties for related violations. Political committees must submit to the Federal Election Commission a written acknowledgement of the ban on foreign contributions.

Blocking New Corporate Tax Giveaways Act This bill modifies the global intangible low-taxed income (GILTI) regime to provide that high-taxed amounts are excluded from tested income for purposes of determining GILTI only if such amounts are initially treated as foreign base company income or insurance income.

This resolution highlights the nonpartisan nature of the Foreign Service and the oath taken by Foreign Service members to defend the Constitution and serve the people of the United States. It also condemns political retaliation against Foreign Service members.