Stop Corporate Earnings Stripping Act of 2016

Summary

Stop Corporate Earnings Stripping Act of 2016 This bill amends the Internal Revenue Code to limit the tax deduction available to certain foreign-controlled U.S. multinational corporations for excess interest on debt incurred by such corporation (i.e., earnings stripping) by: (1) repealing the debt-to-equity ratio threshold required for such deduction, (2) reducing the permitted net interest expense threshold from 50% to 25% of the corporation's adjusted taxable income, (3) repealing the carryforward of excess amounts of interest, and (4) limiting to five years the carryforward of disallowed interest expense.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 February 2016

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• Introduced in House (PDF)

  Introduced in House · EN · 23 February 2016

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• Introduced in House

  summary · EN · 23 February 2016

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