Ending Tax Breaks for Massive Sovereign Wealth Funds Act
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.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.