Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act

12/29/2022, 1:18 PM

Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act

This bill repeals the 15% alternative minimum tax on corporations enacted by the Inflation Reduction Act of 2022.

Congress
117
Number
S - 5017
Introduced on
2022-09-29
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

9/29/2022
Text
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Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act

This bill repeals the 15% alternative minimum tax on corporations enacted by the Inflation Reduction Act of 2022.

Alternative Names
Official Title as IntroducedA bill to repeal the corporate alternative minimum tax.
Policy Areas
Taxation

Comments

Related

Member:  Rob Portman
Bill Update Alert:  Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act

Recent Activity

Latest Summary10/24/2022

Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act

This bill repeals the 15% alternative minimum tax on corporations enacted by the Inflation Reduction Act of 2022.

Latest Action9/29/2022
Read twice and referred to the Committee on Finance.