US HB901 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2019-01-30 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2019-01-30 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Reinstates (1) the 15% corporate tax bracket for up to $50,000 in taxable income, and (2) the additional tax on corporations with taxable income that exceeds $100,000. The bill limits the additional tax to the lesser of 5% of the excess or $3,000. (Under current law, corporations are taxed at a flat 21% rate.)
Title
Restoring Economic Opportunities for Small Family C–Corporations
Sponsors
Rep. Steve King [R-IA] | Rep. Scott DesJarlais [R-TN] |
History
Date | Chamber | Action |
---|---|---|
2019-01-30 | House | Referred to the House Committee on Ways and Means. |
2019-01-30 | House | Introduced in House |
Subjects
Corporate finance and management
Income tax rates
Tax administration and collection, taxpayers
Taxation
Income tax rates
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/901/all-info |
Text | https://www.congress.gov/116/bills/hr901/BILLS-116hr901ih.pdf |