US S1844

Bill

US S1844

A bill to restore full military retirement benefits by closing corporate tax loopholes.

Introduced
12/17/2013

In Committee
12/17/2013

Crossed Over

Passed

Dead
01/03/2015

Introduced Session

113th Congress

Bill Summary

A bill to restore full military retirement benefits by closing corporate tax loopholes.

AI Summary

This bill, known as the Military Retirement Restoration Act, aims to restore full military retirement benefits by addressing corporate tax loopholes. It proposes to repeal a reduction in military retirement benefits that was part of the Bipartisan Budget Act of 2013. Additionally, the bill amends the Internal Revenue Code to treat certain foreign corporations that are managed and controlled primarily within the United States as domestic corporations for income tax purposes. This means that if a corporation's stock is regularly traded on an established market or if it has significant gross assets (over $50 million), and its key decision-makers and investment strategies are primarily based in the U.S., it will be subject to U.S. income tax as if it were a domestic company. This change is intended to close tax loopholes that allow some corporations to avoid U.S. taxes, thereby generating revenue to fund the restoration of military retirement benefits.

Committee Categories

Budget and Finance

Sponsors (24)

Jeanne Shaheen (D)*, Tammy Baldwin (D), Mark Begich (D), Richard Blumenthal (D), Chris Coons (D), Al Franken (D), Martin Heinrich (D), Mazie Hirono (D), Tim Kaine (D), Angus King (I), Amy Klobuchar (D), Mary Landrieu (D), Patrick Leahy (D), Joe Manchin (I), Ed Markey (D), Jeff Merkley (D), Jack Reed (D), Bernie Sanders (I), Brian Schatz (D), Debbie Stabenow (D), Mark Udall (D), Tom Udall (D), Mark Warner (D), Elizabeth Warren (D),

Last Action

Read twice and referred to the Committee on Finance. (on 12/17/2013)

Official Document

https://www.congress.gov/bill/113th-congress/senate-bill/1844/all-info

(27 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/113th-congress/senate-bill/1844/all-info
BillText	http://gpo.gov/fdsys/pkg/BILLS-113s1844is/pdf/BILLS-113s1844is.pdf
Bill	http://gpo.gov/fdsys/pkg/BILLS-113s1844is/pdf/BILLS-113s1844is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR1554	Stop Tax Haven Abuse Act	Referred to House Financial Services	Related
HR1555	To amend the Internal Revenue Code of 1986 to reduce international tax avoidance and restore a level playing field for American businesses.	Referred to the House Committee on Ways and Means.	Related
HR3666	Sequester Delay and Stop Tax Haven Abuse Act	Referred to House Budget	Related
HR3787	To repeal the annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62, and for other purposes.	Referred to the Subcommittee on Disability Assistance and Memorial Affairs.	Related
HR3788	To repeal the reductions in military retirement benefits made by the Bipartisan Budget Act of 2013 and to require inclusion of the taxpayer's social security number to claim the refundable portion of the child tax credit.	Referred to the Subcommittee on Military Personnel.	Related
HR3790	To repeal the annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62.	Referred to the Subcommittee on Military Personnel.	Related
HR3792	To repeal the reduction in the annual percentage increases of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62.	Referred to the Subcommittee on Military Personnel.	Related
HR3793	Military Retirement Restoration Act	Referred to the Subcommittee on Military Personnel.	Same As
HR3794	To repeal the annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62, and for other purposes.	Referred to the Subcommittee on Military Personnel.	Related
HR3797	To repeal an annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62, and for other purposes.	Referred to the Subcommittee on Military Personnel.	Related
HR3798	To repeal an annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62, and for other purposes.	Referred to the Subcommittee on Military Personnel.	Related
HR3801	To repeal the reductions in military retirement benefits made by the Bipartisan Budget Act of 2013 and to authorize the United States Postal Service to implement a modified Saturday delivery schedule.	Referred to the Subcommittee on Military Personnel.	Related
HR3804	To repeal the annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62.	Referred to the Subcommittee on Military Personnel.	Related
HR3807	Uphold Our Promise to Veterans Act	Referred to the Subcommittee on Military Personnel.	Related
HR4134	America First Act	Referred to the Subcommittee on Military Personnel.	Related
HR5338	To repeal the revised annuity employee and further revised annuity employee categories within the Federal Employees Retirement System, and for other purposes.	Referred to House Foreign Affairs	Related
HR694	Corporate Tax Fairness Act	Referred to the House Committee on Ways and Means.	Related
S1533	A bill to end offshore tax abuses, to preserve our national defense and protect American families and businesses from devastating cuts, and for other purposes.	Read twice and referred to the Committee on Finance.	Related
S1856	A bill to repeal section 403 of the Bipartisan Budget Act of 2013, relating to an annual adjustment of retired pay for members of the Armed Forces under the age of 62.	Read twice and referred to the Committee on Armed Services.	Related
S1869	A bill to repeal section 403 of the Bipartisan Budget Act of 2013, relating to an annual adjustment of retired pay for members of the Armed Forces under the age of 62, and to provide an offset.	Read twice and referred to the Committee on Finance.	Related
S1930	A bill to repeal the annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62, and for other purposes.	Read twice and referred to the Committee on Armed Services.	Related
S1931	A bill to provide for the extension of certain unemployment benefits, and for other purposes.	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 296.	Related
S1950	Comprehensive Veterans Health and Benefits and Military Retirement Pay Restoration Act of 2014	Motion to proceed to consideration of measure withdrawn in Senate. (consideration: CR S736)	Related
S1963	A bill to repeal section 403 of the Bipartisan Budget Act of 2013.	Returned to the Calendar. Calendar No. 298.	Related
S1977	A bill to repeal section 403 of the Bipartisan Budget Act of 2013, relating to an annual adjustment of retired pay for members of the Armed Forces under the age of 62, and to provide an offset.	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 300.	Related
S250	Corporate Tax Dodging Prevention Act	Read twice and referred to the Committee on Finance.	Related
S268	CUT Loopholes Act	Read twice and referred to the Committee on Finance.	Related

Bill

Bill Name

Last Action

Type

HR1554

Stop Tax Haven Abuse Act

Referred to House Financial Services

HR1555

To amend the Internal Revenue Code of 1986 to reduce international tax avoidance and restore a level playing field for American businesses.

Referred to the House Committee on Ways and Means.

HR3666

Sequester Delay and Stop Tax Haven Abuse Act

Referred to House Budget

HR3787

To repeal the annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62, and for other purposes.

Referred to the Subcommittee on Disability Assistance and Memorial Affairs.

HR3788

To repeal the reductions in military retirement benefits made by the Bipartisan Budget Act of 2013 and to require inclusion of the taxpayer's social security number to claim the refundable portion of the child tax credit.