H.R.5338 - Federal Employee Pension Fairness Act113th Congress (2013-2014)
|Sponsor:||Rep. Edwards, Donna F. [D-MD-4] (Introduced 07/31/2014)|
|Committees:||House - Ways and Means; Oversight and Government Reform; Foreign Affairs|
|Latest Action:||House - 07/31/2014 Referred to the Committee on Ways and Means, and in addition to the Committees on Oversight and Government Reform, and Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (All Actions)|
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Summary: H.R.5338 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (07/31/2014)
Federal Employee Pension Fairness Act - Repeals provisions requiring federal employees, including foreign service employees, who began service after 2012 to pay an increased contribution (4.4%) for funding their annuities under the Federal Employees Retirement System (FERS).
Amends the Internal Revenue Code to: (1) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for U.S. tax purposes; and (2) revise rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with lower income tax rates than the United States).