A Republican bill with 4 Democratic cosponsors · See all 8 cosponsors
Last activity — Referred to the House Committee on Ways and Means.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill, known as the "Restore Economic Vitality and Investment in the Virgin Islands Act" or the "REVIVE VI Act," seeks to amend the Internal Revenue Code of 1986. It aims to change how global intangible low-taxed income is determined. Specifically, it would exclude certain income derived from services performed in the Virgin Islands from that calculation. This exclusion applies to qualified Virgin Islands services income held by specified United States shareholders. The changes target gross income that is compensation for labor or personal services performed within the Virgin Islands.
Yes· 3 of 8
- Scored +5
Would business owners be better off under this?
The bill provides tax relief for closely held C corporations and individuals performing services through local corporations.
- Scored +5
Does this cut taxes for small businesses?
The bill provides a tax exclusion for certain services income for specified shareholders, including closely held C corporations.
- Scored +4
Would high-income households be better off under this?
The bill benefits specified shareholders, which include individuals and trusts that may hold significant service-based income.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Exclusion of specific income from taxes: The bill allows for "qualified Virgin Islands services income" to be excluded from the determination of global intangible low-taxed income (Section 2(a) and Section 2(b)(i)(I)). This applies to gross income that is compensation for labor or personal services performed in the Virgin Islands by a corporation formed there.
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Support for specific types of income: Income is considered positive under this bill if it is attributable to services performed from within the Virgin Islands by individuals for the benefit of a local corporation (Section 2(b)(i)(II)).
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Benefit for specific shareholders: The act provides a specific tax treatment for "specified United States shareholders," which includes individuals, trusts, estates, or certain closely held C corporations (Section 2(b)(ii)).
Potential Negative Impacts for People
- Risk of abuse: The bill acknowledges the potential for misuse by requiring the Secretary to prescribe regulations or guidance specifically to "prevent the abuse of such subparagraphs" (Section 2(b)(iii)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — The bill provides tax relief for closely held C corporations and individuals performing services through local corporations. Would high-income households be better off under this? — The bill benefits specified shareholders, which include individuals and trusts that may hold significant service-based income. Would Hispanic Americans be better off under this? — The bill may have a positive impact on the economic landscape of the Virgin Islands, which has a significant Hispanic and Caribbean-descended population. Would people in rural areas be better off under this? — The bill targets economic revitalization in the Virgin Islands, which includes various local communities. Would people in cities be better off under this? — The bill targets economic revitalization in the Virgin Islands, which can benefit local urban and community centers.
- Economy And Finance
- Does this cut taxes for small businesses? — The bill provides a tax exclusion for certain services income for specified shareholders, including closely held C corporations. Is this likely to grow the economy? — The act is designed to restore economic vitality by incentivizing service-based income in the Virgin Islands. Is this likely to create jobs? — By excluding certain income from the GILTI tax calculation, the bill aims to encourage economic activity and services within the Virgin Islands.
- 3/24/2025
- 1 Cosponsor added.
- 3/18/2025
- 1 Cosponsor added.
- 2/14/2025
- 1 Cosponsor added.
- 1/31/2025
- Referred to the House Committee on Ways and Means.
- 5 Cosponsors added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Suzan DelBeneDemocrat · Washington
Randy FeenstraRepublican · Iowa
Kevin HernRepublican · Oklahoma
Carol MillerRepublican · West Virginia
Max MillerRepublican · Ohio
Stacey PlaskettDemocrat · Virgin Islands
Terri SewellDemocrat · Alabama
Bradley SchneiderDemocrat · Illinois