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HR 363 · in committee · significant

Territorial Economic Recovery Act

What this bill does

  • This bill exempts certain foreign corporations operating in U.S. territories from a federal tax on global corporate profits.
  • The exemption applies to companies earning at least 80% of income from Puerto Rico, Guam, American Samoa, U.S. Virgin Islands, or Northern Mariana Islands.
  • The change takes effect for tax years starting after the bill's enactment with no direct federal spending involved.

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Community Threads

Started by Cosponsor

  1. 01

    How might exempting foreign corporations from the global profit tax affect local employment and business competition in U.S. territories versus the federal government's tax revenue?

  2. 02

    What evidence supports the claim that this tax exemption would encourage foreign investment in these specific territories rather than other locations?

  3. 03

    Should the 80% income threshold requirement be higher or lower to balance attracting business investment with ensuring benefits reach local communities?

Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.

Sponsor · D-VI

Stacey E. Plaskett

Citizen cosponsors

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In Congress

0/ 435

House Reps cosponsoring

Introduced 2025-01-13

Legislative timeline

  1. 2025-01-13 · house · IntroReferral

    Referred to the House Committee on Ways and Means.

  2. 2025-01-13 · IntroReferral

    Introduced in House

  3. 2025-01-13 · IntroReferral

    Introduced in House

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