International Competition for American Jobs Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsor
- 1
- Latest action
- May 6, 2025
What it does
The International Competition for American Jobs Act would amend the Internal Revenue Code to modify the taxation of international entities, primarily by making permanent the look-thru rule for controlled foreign corporations, adjusting deductions for foreign-derived intangible income and global intangible low-taxed income, revising the base erosion minimum tax, altering foreign tax credit limitation baskets, and restoring limitations on downward attribution of stock ownership in constructive ownership rules. These changes would affect domestic corporations with foreign operations, foreign-controlled U.S. shareholders, and multinational enterprises engaged in cross-border transactions. Most…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.