The No Tax Breaks for Outsourcing Act aims to amend the Internal Revenue Code of 1986 to ensure that income from foreign corporations is taxed in the current year and to limit certain tax benefits linked to foreign operations. It revises how companies can use foreign tax...
Simple Explanation
The No Tax Breaks for Outsourcing Act is a plan to make sure companies pay their taxes when they earn money from their business outside of the U.S., so they can't avoid taxes by moving their money or company rules around.