Summary: H.R.5338 — 113th Congress (2013-2014)All Information (Except Text)

There is one summary for H.R.5338. Bill summaries are authored by CRS.

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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).