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United States · Bill · HR

H.R. 775 (105th)

American Jobs Act

referredUnited States· United States Congress· EN

Introduced

13 February 1997

Last action

13 February 1997 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. McKinney, Cynthia A. [D-GA-4], Rep. Bonior, David E. [D-MI-10], Rep. Borski, Robert A. [D-PA-3], Sen. Brown, Sherrod [D-OH], Rep. Clayton, Eva M. [D-NC-1], Rep. Conyers, John, Jr. [D-MI-13], Rep. Cummings, Elijah E. [D-MD-7], Rep. Davis, Danny K. [D-IL-7], Rep. Dellums, Ronald V. [D-CA-9], Rep. Evans, Lane [D-IL-17], Rep. Fattah, Chaka [D-PA-2], Rep. Filner, Bob [D-CA-51], Rep. Foglietta, Thomas M. [D-PA-1], Rep. Hilliard, Earl F. [D-AL-7], Rep. Jackson Lee, Sheila [D-TX-18], Rep. Johnson, Eddie Bernice [D-TX-30], Rep. Lipinski, William O. [D-IL-3], Rep. Meek, Carrie P. [D-FL-17], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Owens, Major R. [D-NY-11], Rep. Rush, Bobby L. [D-IL-1], Rep. Stupak, Bart [D-MI-1], Rep. Towns, Edolphus [D-NY-10], Rep. Watt, Melvin L. [D-NC-12], Rep. Wynn, Albert Russell [D-MD-4], Rep. Kaptur, Marcy [D-OH-9], Rep. Serrano, Jose E. [D-NY-15], Rep. Barrett, Thomas M. [D-WI-5], Rep. Martinez, Matthew G. [D-CA-31], Rep. Vento, Bruce F. [D-MN-4], Del. Christensen, Donna M. [D-VI-At Large], Rep. DeFazio, Peter A. [D-OR-4], Rep. Gutierrez, Luis V. [D-IL-4], Rep. Thompson, Bennie G. [D-MS-2], Rep. Waters, Maxine [D-CA-43], Rep. Torres, Esteban Edward [D-CA-34], Rep. McGovern, James P. [D-MA-2], Rep. Kilpatrick, Carolyn C. [D-MI-13], Rep. Kucinich, Dennis J. [D-OH-10], Rep. Luther, Bill [D-MN-6]

Subjects

Taxation

Source updated

21 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

American Jobs Act - 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. 13 February 1997

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 13 February 1997

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 13 February 1997

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 13 February 1997

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  • Introduced in House (PDF)

    Introduced in House · EN · 13 February 1997

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  • Introduced in House

    summary · EN · 13 February 1997

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Sponsors

Related records

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Sources

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