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FOREIGN ACTIVITIES OF U.S. TAXPAYERS 1087 Tax Lawyer, Vol. 56, No. 4 FOREIGN ACTIVITIES OF U.S. TAXPAYERS SUBMITTED BY THE COMMITTEE ON FOREIGN ACTIVITIES OF U.S. TAXPAYERS: JOE O. LUBY, JR., COMMITTEE CHAIR; ANDREW B. BRESLOW, SUBCOMMITTEE ON IMPORTANT DEVELOPMENTS* Legislation H.R. 5095, introduced by House Ways and Means Committee Chairman, Bill Thomas (R-CA), included many significant changes to the international provisiion of the Code, including, among others: (1) repealing the CFC (i.e...

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