H.R.4679 : Stop Corporate Inversions Act of 2014
On May 20, a group of three House Democrats today introduced legislation to tighten restrictions on corporate tax inversions, limiting the ability of American companies to avoid U.S. taxation by combining with a smaller foreign business and moving their tax domicile overseas. The House legislation – the “Stop Corporate Inversions Act of 2014” (H.R. 4679) – and companion Senate legislation introduced by U.S. Sen. Carl Levin (D-MI) largely mirror the inversion proposal included in the President’s FY 2015 budget.
Co-sponsors of the legislation include Ways and Means Committee Ranking Member Sander Levin (D-MI), Rep. Charles Rangel (D-NY), Rep. Jim McDermott (D-WA), Rep. Richard E. Neal (D-MA), Rep. Lloyd Doggett (D-TX), Rep. John Larson (D-CT), Rep. Danny K. Davis (D-IL), Budget Committee Ranking Member Chris Van Hollen (D-MD), Rep. Rosa DeLauro (D-CT), and Rep. Jan Schakowsky (D-IL). See a full list of co-sponsors here.
Below are the supporting materials for the bill:
1. Text of the bill (as introduced)