Bill115th CongressFiled Nov 27, 2018Taxation
H.R. 7176
Restoring Economic Opportunities for Small Family C-Corporations
Bill journey · stage 2 of 5
Under committee review
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What it doesSummary introduced in house (Nov 27, 2018)
Restoring Economic Opportunities for Small Family C-Corporations
This bill 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.)
What just happenedNov 27, 2018
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. King, Steve [R-IA-4](R-IA)Sponsor
1 cosponsor1 R
1cosponsors1committees3actions3subjects
- Introduced in HouseNov 27, 2018
- Nov 27, 2018IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Nov 27, 2018IntroReferralIntro-H
Introduced in House
- Nov 27, 2018IntroReferral1000
Introduced in House