Senator Cantwell Intrdouces Bill to Repeal Foreign Shipping Income Tax Rules

Posted on August 5, 2008 by Shelley Buckholtz

Senator Cantwell introduced a bill (S. 3359) to amend the Internal Revenue Code of 1986 to repeal the shipping investment withdrawal rules in I.R.C. Section 955 and to provide an incentive to reinvest foreign shipping earnings in the United States.

A copy of the legislation is available at:  http://cantwell.senate.gov/issues/legislation.cfm

 

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