U.S. Congressman Lloyd Doggett (D-TX) has announced the reintroduction of the No Tax Breaks for Outsourcing Act (Bill H.R. 884) together with Senator Sheldon Whitehouse (D-RI). The Congressman and Senator first introduced the legislation in 2018. The latest version is similar to the original and would address offshoring incentives by:
- Equalizing the tax rate on profits earned abroad to the tax rate on profits earned here at home. This legislation would end the preferential tax rate for off…