The No Tax Breaks for Outsourcing Act, introduced in the 119th Congress as H. R. 995, aims to amend the Internal Revenue Code of 1986. The bill targets corporate tax regulations, specifically by ensuring that U.S. shareholders include net Controlled Foreign...
Simple Explanation
The No Tax Breaks for Outsourcing Act is a plan to change some tax rules so that big companies can't avoid paying U.S. taxes just because they have parts of their business in other countries; this means they might need to pay more taxes here in the U.S. even if they try to do business somewhere else.