Border Tax Equity Act of 2016
Sponsored By: Representative Pascrell, Bill, Jr. [D-NJ-9]
Unknown
Summary
Border Tax Equity Act of 2016 This bill amends the Internal Revenue Code to impose a tax on imports from any foreign country that: (1) employs an indirect tax system, and (2) grants rebates of indirect taxes paid on exports from that country. This tax shall be collected by the U.S. Customs and Border Protection (CBP) and deposited into a special account. The bill also amends the Tariff Act of 1930 to require the CBP, upon request of a U.S. exporter, to pay to the exporter from this special account an amount equal to the amount of indirect taxes imposed by the importing foreign country, minus any U.S. taxes rebated or funded upon exportation. The Office of the U.S. Trade Representative must report on specified matters related to World Trade Organization negotiations, border taxes, and free-trade agreements.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & CoSponsors
Sponsor
Pascrell, Bill, Jr. [D-NJ-9]
NJ • D
Cosponsors
WALTER JONES
NC • R
Sponsored 9/27/2016
Roll Call Votes
No roll call votes available for this bill.
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