HR 7559 · 119th CongressIn Committeecongress.gov ↗
To amend the Internal Revenue Code of 1986 to deny deduction for outsourcing payments.
Road to The Floor
How it worksIntroduced
In Committee
On The Floor
Passed a Chamber
Passed Congress
To President
Became Law
What this bill does
AI plain-language summaryThis bill would stop businesses from getting a tax break on certain payments they make to people or companies in other countries. Specifically, it targets payments like fees, royalties, or service charges that businesses pay to foreign individuals or organizations for work or services that end up benefiting American consumers. Right now, businesses can deduct these kinds of payments on their taxes, but this bill would take that deduction away.
Your Vote
Discussion (0)
Explain what is at stake in this bill.
Sign in to join the discussion.
No comments yet. Be the first.