On 9 March 2017, U.S. Senators Bernie Sanders (I-VT) and Brian Schatz (D-HI) introduced the Corporate Tax Dodging Prevention Act of 2017. According to a summary, the bill would:

• End the rule allowing American corporations to defer paying federal income tax on profits of their offshore subsidiaries;
• Transition to new rules by imposing a one-time tax of 35 percent on profits currently held offs…