To amend the Internal Revenue Code of 1986 to modify the source rules to provide for economic recovery in the possessions of the United States.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill creates modifies IRC section 937(b)(2) source rules so income from US possessions is only US-source to extent attributable to a US office or fixed place of business; extends section 865(j)(3) to include section 932. It relies on tax rate changes. The main policy areas are Commerce and Tax.
Who Benefits and How
Businesses and individuals in US possessions (Puerto Rico, USVI, etc.) could see lower costs.
Who Bears the Burden and How
US Treasury/IRS could lose revenue opportunities.
Key Provisions
- Creates modifies IRC section 937(b)(2) source rules so income from US possessions is only US-source to extent attributable to a US office or fixed place of business; extends section 865(j)(3) to include section 932.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates modifies IRC section 937(b)(2) source rules so income from US possessions is only US-source to extent attributable to a US office or fixed place of business; extends section 865(j)(3) to include section 932.
Key Policy Areas
Commerce, Tax
Primary Purpose
The bill creates modifies IRC section 937(b)(2) source rules so income from US possessions is only US-source to extent attributable to a US office or fixed place of business; extends section 865(j)(3) to include section 932.
Policy Domains
Whole bill
Identified Gains
- Businesses and individuals in US possessions (Puerto Rico, USVI, etc.)
Identified Costs
- US Treasury/IRS
Legislative Progress
IntroducedMs. Plaskett introduced the following bill; which was referred to …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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