S.2235 - Domestic Workforce Protection Act108th Congress (2003-2004)
|Sponsor:||Sen. Hollings, Ernest F. [D-SC] (Introduced 03/25/2004)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 03/25/2004 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3186-3188) (All Actions)|
This bill has the status Introduced
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Summary: S.2235 — 108th Congress (2003-2004)All Information (Except Text)
Introduced in Senate (03/25/2004)
Domestic Workforce Protection Act - Renames the Department of Commerce as the Department of Trade and Commerce. Redesignates the Secretary of Commerce or any other official of the Department as the Secretary or official, as appropriate, of Trade and Commerce.
Amends the Trade Act of 1974 to transfer the Office of the U.S. Trade Representatives from the Executive Office of the President to the Department of Trade and Commerce.
Amends the Internal Revenue Code to revise tax rules for determining amounts included in the gross income of U.S. shareholders of controlled foreign corporations.
Disallows a tax deduction for certain royalty payments made by a corporation to an affiliated entity organized and operated outside the United States.
Authorizes the Secretary of the Treasury to deny tax benefits for corporations that attempt to avoid U.S. taxation through the use of tax havens.
Requires the Attorney General to appoint an Assistant Attorney General for Trade.
Provides for employment of additional customs inspectors to detect and prevent illegal transshipments of textiles.
Requires the Secretary of Commerce to develop and implement a program to encourage and support increased domestic production of goods and products essential or critical to national security in order to decrease U.S. dependence upon such imports.
Expresses the sense of the Senate that Congress should appropriate the full amount authorized by law to carry out the Regional Centers for the Transfer of Manufacturing Technology program under the National Institute of Standards and Technology Act and the Advanced Technology Program authorized by that Act.
Abolishes the U.S. International Trade Commission and transfers its functions to the Department of Commerce to be performed by the Assistant Secretary of Commerce for Import Administration.