118th Congress Taxation
S. 2518: Ending Tax Breaks for Massive Sovereign Wealth Funds Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill denies a tax exemption for income from investments of a non-exempt foreign government. The bill defines non-exempt foreign government as any foreign government that holds, directly or indirectly, more than $100 billion in assets for investment or for the production of income, and either does not have a free trade agreement or treaty in effect with the United States, or is a foreign government of a covered nation (i.e., Russia, China, North Korea, or Iran).
The Department of the Treasury must publish a list of non-exempt foreign government for purposes of this bill.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Brian Schatz D-HI
Who scored on this bill
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- S.J.Res. 145: Disapproval of Bureau of Consumer Financial Protection relating to the withdrawal of the rule rule: Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports
- S.J.Res. 95: Disapproval of Internal Revenue Service rule: Interim Guidance Simplifying Application of the Corporate Alternative Minimum Tax to Partnerships
- S.J.Res. 88: Terminating the national emergency declared to impose global tariffs
History
- Introduced in the Senate by Ron Wyden.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.