Summary of Bill HR 429
Bill 118 hr 429, also known as the No Tax Breaks for Radical Corporate Activism Act, is a piece of legislation currently being considered in the US Congress. The purpose of this bill is to prevent corporations from receiving tax breaks or incentives if they engage in activities that can be considered radical or extreme.
The bill specifically targets corporations that participate in activism that goes against the values or interests of the United States. This includes activities such as funding or supporting violent protests, promoting extremist ideologies, or engaging in activities that undermine national security.
If passed, the No Tax Breaks for Radical Corporate Activism Act would require corporations to disclose any political or activist activities they are involved in, and would prohibit them from receiving any tax breaks or incentives if they are found to be engaging in radical behavior.
Supporters of the bill argue that it is necessary to hold corporations accountable for their actions and prevent them from using taxpayer money to fund activities that are harmful to society. Critics, however, argue that the bill could infringe on corporations' freedom of speech and could be used to target companies that engage in legitimate activism.
Overall, the No Tax Breaks for Radical Corporate Activism Act is a controversial piece of legislation that aims to address the issue of corporations engaging in radical activities. It remains to be seen whether or not it will be passed into law.
Congressional Summary of HR 429
No Tax Breaks for Radical Corporate Activism Act
This bill disallows a business expense tax deduction for any reimbursement paid by an employer to an employee for travel expenses to obtain an abortion, or for the costs of any gender transition procedure for the employee's minor child.