Sponsor: PELLY, Thomas Minor (R-WA)
Description: HR 5. FOREIGN INVESTMENT INCENTIVE TAX ACT OF 1960, DEFERRING TAX PAYMENTS ON EARNINGS OF U.S.-OWNED FOREIGN BUSINESS CORPORATIONS IN UNDERDEVELOPED COUNTRIES UNTIL THE MONEY IS RETURNED TO THIS COUNTRY. PELLY-GROSS MOTION TO STRIKE THE ENACTING CLAUSE.