,i  #aaeth ,,congress  #b;d ,session    
,h4 ,r4 #eade  ,,in ,,the ,,house ,,of  
,,representatives  ,march #a1 #bjah,ms4 
,de,lauro introduced the following bill2
 which was referred to the ,committee on
 ,ways and ,means  ,a ,,bill  ,to amend 
the ,internal ,revenue ,code of #aihf to
 eliminate tax preferences for foreign  
profits by repealing the reduced rate of
 tax on foreign-derived intangible      
income and global intangible low-taxed  
income4  #a4 ,short title ,this ,act may
 be cited as the ,close ,tax ,loopholes 
,that ,outsource ,american ,jobs ,act4  
#b4 ,repeal of reduced rate of tax on   
foreign-derived intangible income and   
global intangible low-taxed income  7a7 
,in general ,part ,,viii of subchapter  
,b of chapter #a of the ,internal       
,revenue ,code of #aihf is amended by   
striking section #bej 7and by striking  
the item relating to such section in the
 table of sections of such part74  7b7  
,conforming amendments  7#a7 ,section   
#agb7;d7 of such ,code is amended by    

striking paragraph 7#i74  7#b7 ,section 
#bdf7;b77#a7 of such ,code is amended-- 
7,a7 by striking subsection 7a7 and 7b7 
of section #bde1 and section #bej and   
inserting and subsection 7a7 and 7b7 of 
section #bde2 and  7,b7 by striking     
subsection 7a7 and 7b7 of section #bde1 
and #bej and inserting and subsection   
7a7 and 7b7 of section #bde4  7#c7      
,section #dfi7;i77#c77;,f77iii7 of such 
,code is amended by striking #bbb1 and  
#bej and inserting and #bbb4  7c7       
,effective date ,the amendments made by 
this section shall apply to taxable     
years beginning after ,december #ca1    
#bjag4