# 116-hr-7309: American Assistance for American Companies Act

116-hr-7309, American Assistance for American Companies Act, is a 116th Congress bill sponsored by Rep. Doggett, Lloyd [D-TX-37] (D-TX); status Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7309
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7309
- Congress: 116
- Title: American Assistance for American Companies Act
- Status: Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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.
- Introduced: 2020-06-24
- Sponsor: Rep. Doggett, Lloyd [D-TX-37] (D-TX)
- Cosponsors: 1
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

American Assistance for American Companies Act This bill disallows certain tax benefits for inverted domestic corporations. An inverted domestic corporation is a U.S. corporation that acquires foreign entities to reincorporate in a foreign jurisdiction with income tax rates lower than U.S. rates). Specifically, an inverted domestic corporation may not claim net operating loss carrybacks, increased deductibility of business interest, nor participate in Federal Reserve Lending Facilities. The bill allows an inverted domestic corporation to elect to be treated as a domestic corporation for U.S. tax purposes.

## Cosponsors (1)

- Rep. Blumenauer, Earl [D-OR-3] (D-OR), 2020-09-17T00:00:00.000Z

## Related bills

- 116-hr-8884: To amend the Trade Act of 1974 to modify and extend the Generalized System of Preferences, and for other purposes.
- 116-hr-8632: Ocean-Based Climate Solutions Act of 2020
- 116-hr-8626: Energy Resilient Communities Act
- 116-hr-8433: Preventing Future Pandemics Act of 2020
- 116-hr-8402: To direct the Joint Committee on the Library to obtain a statue of Ruth Bader Ginsburg and to place the statue in the United States Capitol in National Statuar…
- 116-hr-8338: Louise Slaughter Weekend Voting Act

## Sources
- [116-hr-7309 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7309)

## Related
- [116-hr-8884: To amend the Trade Act of 1974 to modify and extend the Generalized System of P…](https://policyrisk.com/legislation/116-hr-8884)
- [116-hr-8632: Ocean-Based Climate Solutions Act of 2020](https://policyrisk.com/legislation/116-hr-8632)
- [116-hr-8626: Energy Resilient Communities Act](https://policyrisk.com/legislation/116-hr-8626)
- [116-hr-8433: Preventing Future Pandemics Act of 2020](https://policyrisk.com/legislation/116-hr-8433)
- [116-hr-8402: To direct the Joint Committee on the Library to obtain a statue of Ruth Bader G…](https://policyrisk.com/legislation/116-hr-8402)
- [116-hr-8338: Louise Slaughter Weekend Voting Act](https://policyrisk.com/legislation/116-hr-8338)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7309 (as of 2025-11-18).