HR 363
Territorial Economic Recovery Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 3:16 AM
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Territorial Economic Recovery Act aims to provide economic relief to businesses operating in U.S. territories like Puerto Rico, Guam, and the Virgin Islands. Specifically, it modifies how the federal government calculates taxes on income from foreign corporations operating within these territories. The bill proposes to exclude a portion of the income from certain controlled foreign corporations operating in these territories from the calculation of Global Intangible Low-Taxed Income (GILTI), potentially reducing the tax burden on businesses in these areas. This change is intended to encourage economic activity and investment in the U.S. territories.
Sponsors
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Primary sponsor
Stacey E. [D-VI-At Large] Plaskett
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