Domestic Workforce Protection Act

Bill: 108-s-2235
Sponsor: Sen. Hollings, Ernest F. [D-SC]
Introduced: 2004-03-25 in the Senate
Policy area: Foreign Trade and International Finance
Subjects: Accounting
Affiliated corporations
Appropriations
Armed Forces and National Security
Attorneys general
Buy American
Civil actions and liability
Commerce
Commercialization
Congress
Congressional reporting requirements
Copyright
Corporation taxes
Crime and Law Enforcement
Customs administration
Defense industries
Department of Commerce
Department of Homeland Security
Department of Justice
Dividends
Earnings
Economics and Public Finance
Executive reorganization
Federal employees
Federal law enforcement officers
Federal officials
Finance and Financial Sector
Foreign corporations
Government Operations and Politics
Governmental investigations
Import restrictions
Income tax
Industrial engineering
Intellectual property
International competitiveness
Law
Legislation
Manufacturing industries
Names
Office of the U.S. Trade Representative
Profit
Recruiting of employees
Restrictive trade practices
Salaries
Science, Technology, Communications
Small business
Smuggling
Stockholders
Tax credits
Tax deductions
Tax evasion
Tax exclusion
Tax havens
Taxation
Taxation of foreign income
Technological innovations
Technology transfer
Textile fabrics
Textile industry
Trade agreements
Trademarks
Trusts and trustees
U.S. International Trade Commission

Summary:
action_date: 2004-03-25
text: 
Domestic Workforce Protection Act - Renames the Department of Commerce as the Department of Trade and Commerce. Redesignates the Secretary of Commerce or any other official of the Department as the Secretary or official, as appropriate, of Trade and Commerce.
 
Amends the Trade Act of 1974 to transfer the Office of the U.S. Trade Representatives from the Executive Office of the President to the Department of Trade and Commerce.
 
Amends the Internal Revenue Code to revise tax rules for determining amounts included in the gross income of U.S. shareholders of controlled foreign corporations.
 
Disallows a tax deduction for certain royalty payments made by a corporation to an affiliated entity organized and operated outside the United States.
 
Authorizes the Secretary of the Treasury to deny tax benefits for corporations that attempt to avoid U.S. taxation through the use of tax havens. 
 
Requires the Attorney General to appoint an Assistant Attorney General for Trade.
 
Provides for employment of additional customs inspectors to detect and prevent illegal transshipments of textiles.
 
Requires the Secretary of Commerce to develop and implement a program to encourage and support increased domestic production of goods and products essential or critical to national security in order to decrease U.S. dependence upon such imports.
 
Expresses the sense of the Senate that Congress should appropriate the full amount authorized by law to carry out the Regional Centers for the Transfer of Manufacturing Technology program under the National Institute of Standards and Technology Act and the Advanced Technology Program authorized by that Act.
 
Abolishes the U.S. International Trade Commission and transfers its functions to the Department of Commerce to be performed by the Assistant Secretary of Commerce for Import Administration.
 



Legislative actions:
action_date: 2004-03-25
text: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3186-3188)
action_date: 2004-03-25
text: Introduced in Senate