REVIVE VI Act
Sponsored By: Representative Estes
Introduced
Summary
This bill would _exclude certain pay for services performed in the U.S. Virgin Islands from the U.S. GILTI rules_. It creates a new category called qualified Virgin Islands services income and treats that income specially when computing global intangible low‑taxed income for eligible U.S. shareholders.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Tax change for U.S. owners of Virgin Islands firms
This bill would change how some service income from the Virgin Islands is counted for the U.S. tax on foreign earnings. If a Virgin Islands corporation earns pay for services done from within the Islands and tied to a real business there, that income could be left out when figuring GILTI for some U.S. shareholders. Eligible shareholders would include individuals, trusts, estates, and closely held C corporations that owned their stake before December 31, 2023. If passed, this could lower U.S. tax for those shareholders, but Treasury would issue rules to prevent abuse. The change would apply to foreign corporations’ tax years that start after enactment.
Sponsors & CoSponsors
Sponsor
Estes
KS • R
Cosponsors
Del. Plaskett, Stacey E. [D-VI-At Large]
VI • D
Sponsored 1/31/2025
Hern (OK)
OK • R
Sponsored 1/31/2025
Sewell
AL • D
Sponsored 1/31/2025
Feenstra
IA • R
Sponsored 1/31/2025
Rep. Schneider, Bradley Scott [D-IL-10]
IL • D
Sponsored 1/31/2025
Rep. Miller, Carol D. [R-WV-1]
WV • R
Sponsored 2/14/2025
Rep. Miller, Max L. [R-OH-7]
OH • R
Sponsored 3/18/2025
DelBene
WA • D
Sponsored 3/24/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov