American Jobs for American Infrastructure Act
Latest action. Read twice and referred to the Committee on Finance.
American Jobs for American Infrastructure Act - Amends the Internal Revenue Code to appropriate to the Highway Account and Mass Transit Account of the Highway Trust Fund for FY2014-FY2018 amounts necessary to ensure that the balance of each Account for any quarter is not less than specified levels.
Declares the sense of Congress that Congress should provide annual inflation increases for the Federal Lands Access Program, the Federal Lands Transportation Program, and the Tribal Transportation Program in the next Surface Transportation reauthorization.
Establishes in the Treasury a Reclamation Water Infrastructure Fund, to be administered by the Secretary of the Interior and used for: (1) rural water projects; (2) deferred maintenance of certain Indian irrigation projects; and (3) construction, planning, and design of projects to settle Indian reserved water rights.
Establishes in the Treasury an Energy Upgrade and Retrofit Infrastructure Fund, to be administered by the Secretary of Energy (DOE) and used to: (1) support novel and innovative technologies to capture or prevent carbon dioxide emissions, as well as enable the beneficial use and long-term storage of carbon dioxide; and (2) fund certain commercial-scale, coal-fired electric generation units.
Amends the Internal Revenue Code of 1986 to make a special rule to prohibit income deductions allocated to deferred foreign income from offsetting U.S. source income.
Requires foreign-related deductions to be allocated to currently-taxed foreign income in the same proportion which currently-taxed foreign income bears to the sum of currently-taxed foreign income and deferred foreign income.
Revises rules related to inverted domestic corporations (which used to be incorporated in the United States, or used to be a partnership in the United States, but now are incorporated in a foreign country, or are subsidiaries whose parent corporations are incorporated in a foreign country).
Treats as an inverted domestic corporation, for income tax purposes, any foreign corporation (entity) which after May 8, 2014, completes the direct or indirect acquisition of substantially all of the properties or assets of a domestic corporation, and after the acquisition either: (1) more than 50% (currently, in different specified circumstances, 60% or 80%) of the entity's stock is held by former shareholders of the domestic corporation by reason of holding stock in that domestic corporation; or (2) the management and control of the expanded affiliated group which includes the entity occurs, directly or indirectly, primarily within the United States, and the expanded affiliated group has significant domestic business activities. Applies similar rules to an entity's acquisition of a domestic partnership.
The summary continues for 1 more paragraph. Read it in full on Congress.gov
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on June 18, 2014. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on June 18, 2014: Read twice and referred to the Committee on Finance.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 113th Congress (2013-14), 296 of the 9,091 bills and joint resolutions introduced became law, about 3.3 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
John Walsh (D-MT) introduced it on June 18, 2014. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on June 18, 2014, 4467 days ago. The most recent recorded action was 4467 days ago, on June 18, 2014.
Measures do not carry over. Anything the 113th Congress has not finished by January 3, 2015 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers