Bill117th CongressFiled Jul 22, 2021Taxation
H.R. 4639
Tax Credit Restoration Act of 2021
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Jul 22, 2021)
Tax Credit Restoration Act of 2021
This bill requires the calculation of the base erosion minimum tax amount without regard to any offsetting credits. The base erosion and anti-abuse tax is levied on certain large corporations with deductions for amounts paid or accrued to foreign-related parties that are greater than 3% of their total deductions (2% in the case of certain banks or registered securities dealers).
What just happenedJul 22, 2021
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. DelBene, Suzan K. [D-WA-1](D-WA)Sponsor
1committees3actions
- Introduced in HouseJul 22, 2021
- Jul 22, 2021IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 22, 2021IntroReferralIntro-H
Introduced in House
- Jul 22, 2021IntroReferral1000
Introduced in House