A bill to amend the Internal Revenue Code of 1986 with respect to the creditability of taxes paid to the Republic of Panama.

Summary

Amends the Internal Revenue Code to disallow both an income tax deduction and application of the foreign tax credit in connection with taxes paid or accrued after March 24, 1988, to the Republic of Panama, except for taxes paid to the government recognized as legitimate by the United States. Terminates these limitations when the Secretary of State certifies to the Congress that progress toward restoration of constitutional government in Panama has been made.

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

Timeline

1. 31 March 1988

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 31 March 1988

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 31 March 1988

  Open at official source

Sponsors

• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• Sen. Kennedy, Edward M. [D-MA] · D · Sponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Kerry, John F. [D-MA] · D · Sponsor
• Sen. Helms, Jesse [R-NC] · R · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• Sen. Wilson, Pete [R-CA] · R · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Nickles, Don [R-OK] · R · Sponsor
• Sen. Boschwitz, Rudy [R-MN] · R · Sponsor
• Rep. Symms, Steven D. [R-ID-1] · R · Sponsor
• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• · ssfi00 · Standing

Related records

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