Close the Round-Tripping Loophole Act

Hozzl · 2025-06-30T17:59:09Z

Explore the details of Senate Bill 2021 Close the Round-Tripping Loophole Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

6/30/2025, 5:59 PM

Summary of Bill S 2021

This bill, designated as S. 2021 in the 119th Congress, aims to amend the Internal Revenue Code of 1986 by excluding round-tripped income for the calculation of global intangible low-taxed income. The specific provisions and directives within the bill are not provided in the context.

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Current Status of Bill S 2021

Bill S 2021 is currently in the status of Bill Introduced since June 11, 2025. Bill S 2021 was introduced during Congress 119 and was introduced to the Senate on June 11, 2025. Bill S 2021's most recent activity was Read twice and referred to the Committee on Finance. as of June 11, 2025

Bipartisan Support of Bill S 2021

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 2021

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 2021

A bill to amend the Internal Revenue Code of 1986 to exclude round-tripped income for purposes of calculating global intangible low-taxed income, and for other purposes.