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United States · Bill · HR

H.R. 3252 (104th)

American Jobs Act of 1996

referredUnited States· United States Congress· EN

Introduced

16 April 1996

Last action

16 April 1996 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. McKinney, Cynthia A. [D-GA-4], Rep. Dellums, Ronald V. [D-CA-9], Rep. Lipinski, William O. [D-IL-3], Rep. Evans, Lane [D-IL-17], Rep. Hilliard, Earl F. [D-AL-7], Rep. Thompson, Bennie G. [D-MS-2], Rep. Kaptur, Marcy [D-OH-9], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Meek, Carrie P. [D-FL-17], Rep. Conyers, John, Jr. [D-MI-13], Rep. Bonior, David E. [D-MI-10], Rep. Watt, Melvin L. [D-NC-12], Rep. Wynn, Albert Russell [D-MD-4], Rep. Fattah, Chaka [D-PA-2], Rep. Clayton, Eva M. [D-NC-1], Rep. Towns, Edolphus [D-NY-10], Rep. Johnson, Eddie Bernice [D-TX-30], Rep. Cummings, Elijah E. [D-MD-7], Del. Frazer, Victor O. [I-VI-At Large], Sen. Johnson, Tim [D-SD], Rep. Owens, Major R. [D-NY-11], Rep. Stupak, Bart [D-MI-1], Rep. Collins, Barbara-Rose [D-MI-15], Sen. Brown, Sherrod [D-OH], Rep. Torres, Esteban Edward [D-CA-34], Rep. Hinchey, Maurice D. [D-NY-22], Rep. Foglietta, Thomas M. [D-PA-1], Rep. Mink, Patsy T. [D-HI-2], Rep. DeFazio, Peter A. [D-OR-4], Rep. Borski, Robert A. [D-PA-3]

Subjects

Taxation

Source updated

21 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

American Jobs Act of 1996 - Amends the Internal Revenue Code to include imported property income of a controlled foreign corporation within the sums added together to compute foreign base company income. Defines imported income property to include, among other things, income from manufacturing, growing, selling, renting, or leasing imported property, but exempts any foreign oil and gas income or any foreign oil-related income. Provides for a separate application of limitations on the foreign tax credit for imported property income. Allows an employer a credit against tax, during the two-year period beginning with the day an employee starts work, equal to 20 percent of the qualified social security taxes paid or incurred by the employer for such new employee. Directs the Secretary of the Treasury to report to the Committee on Ways and Means and the Committee on Finance recommendations on the elimination of, or changes in, business tax preferences.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 16 April 1996

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 16 April 1996

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 16 April 1996

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 16 April 1996

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  • Introduced in House (PDF)

    Introduced in House · EN · 16 April 1996

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  • Introduced in House

    summary · EN · 16 April 1996

    Open at official source

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Sponsors

Related records

Sources

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