Senators introduce bill to repeal adjusted tax income limited exclusion on global income
U.S. Sens. Shelley Moore Capito (R-WV), John Cornyn (R-TX), Marsha Blackburn (R-TN), and Jon Husted (R-OH) introduced a bill that seeks to repeal the adjusted tax income (ATI) limitation exclusion of global income. The Ensuring Better Interest Treatment and Deductibility (EBITDA) Act would allow U.S. businesses to include global income – including Subpart F income, GILTI inclusions, and Section 78 gross-up amounts -- in their adjusted tax income (ATI). GILTI is a U.S. tax on certain foreign...
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