Foreign Entity Tax & Price Gouging Prevention Act

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The purpose of this act is to establish a fair and consistent tax framework for foreign-owned entities operating within the United States, promote the retention of profits within the country, prevent price gouging by these entities, safeguard American agricultural land ownership, control exports and imports for the national interest. This act aims to promote tax equity, protect consumers, strengthen national food security, and maintain control over trade.

• For the purposes of this act, the following definitions apply:

a. “Foreign-Owned Entity” refers to any business, organization, or entity incorporated or operating in the United States but owned or controlled by foreign individuals, organizations, or governments.

b. “Federal Tax” is the tax imposed on the income or revenue of foreign-owned entities under this act.

c. “Price Gouging” is defined as the act of artificially inflating prices of goods or services beyond what is considered fair and reasonable, typically in response to increased demand or market conditions.

d. “Agricultural Entity” refers to any business or organization engaged in agricultural activities, including farming, ranching, or food production.

e. “Export Control” refers to the regulation and control of the export of goods and commodities to foreign nations.

f. “Import Control” refers to the regulation and control of the import of goods and commodities from foreign nations.

All foreign-owned entities operating within the United States shall be subject to a federal tax of 50% on their annual income or revenue generated within the United States, as calculated according to generally accepted accounting principles (GAAP).

Foreign-owned entities shall not be eligible for any tax incentives, deductions, or exemptions, whether at the federal, state, or local levels, with respect to their operations within the United States.

Foreign-owned entities shall be required to retain a minimum of 60% of their annual profits generated within the United States within the country, to be reinvested, used for expansion, or otherwise utilized for economic development and job creation.

Foreign-owned entities shall not pass the costs of the federal tax onto consumers through price gouging or unfair pricing practices. Price gouging is strictly prohibited.

• Any foreign-owned entity found guilty of price gouging in violation of this act shall face mandatory penalties, including but not limited to:

a. A fine equal to 300% of the excess amount charged through price gouging.

b. Closure of the entity’s operations within the United States.

c. Further legal actions as determined by relevant authorities.

Foreign-owned agricultural entities shall be permitted to sell their agricultural products within the United States, but they shall not be allowed to own agricultural land. All agricultural land shall be owned by entities owned by American citizens or entities otherwise approved by relevant authorities.

Only entities owned by American citizens shall be allowed to engage in the export of agricultural products produced within the United States. Export control measures shall be implemented to ensure compliance with this provision.

Only entities owned by American citizens shall be allowed to engage in the import of goods and commodities into the United States. Import control measures shall be implemented to ensure compliance with this provision.

• All foreign-owned entities shall be required to submit regular financial reports to the appropriate government agency. These reports shall include, but not be limited to:

a. Comprehensive financial statements detailing income, revenue, and expenses.

b. Documentation of compliance with the federal tax requirements, profit retention, and prohibitions against price gouging.

• Reports shall be submitted on a quarterly basis, and the reporting period shall align with the entity’s fiscal year.