Territorial Tax Parity and Fairness Act

# Territorial Tax Parity and Fairness Act Summary **What the Bill Does:** This bill would address tax differences between residents of U.S. territories (like the U.S. Virgin Islands, Puerto Rico, and Guam) and residents of the mainland United States. Specifically, it aims to create more equal tax treatment and fairness in how income taxes are applied to territorial residents, though the exact provisions would need to be reviewed in the bill's specific language. **Who It Affects:** The bill primarily affects people living in U.S.

territories and protectorates, as well as the territorial governments themselves. It may also have implications for federal tax revenue and mainland taxpayers depending on the specific changes proposed. **Current Status:** As of now, the bill (HR 368) remains in committee, meaning it has not yet been debated or voted on by the full House of Representatives. The bill was introduced by Delegate Stacey Plaskett, the non-voting representative from the U.S. Virgin Islands. *Note: To understand the specific tax changes being proposed, you would need to review the full bill text, as the summary provided doesn't detail the exact provisions.*.