No Tax Breaks for Radical Corporate Activism Act of 2023
12/15/2023, 4:05 PMSummary of Bill S 187
Bill 118 s 187, also known as the No Tax Breaks for Radical Corporate Activism Act of 2023, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to prevent corporations from receiving tax breaks or incentives if they engage in what is deemed as radical activism.The bill defines radical activism as any actions taken by a corporation that are deemed to be outside the scope of their normal business operations and that are intended to promote social or political causes. This could include things like funding political campaigns, supporting controversial social movements, or engaging in protests or boycotts.
Under the provisions of the bill, corporations that engage in radical activism would be ineligible for certain tax breaks and incentives that are typically available to businesses. This is seen as a way to discourage corporations from using their resources to promote causes that may be divisive or controversial. Supporters of the bill argue that corporations should focus on their core business activities and not get involved in political or social issues. They believe that tax breaks should be reserved for companies that are focused on creating jobs and growing the economy, rather than promoting their own social or political agendas. Opponents of the bill, however, argue that it infringes on the free speech rights of corporations and could have a chilling effect on corporate activism more broadly. They believe that corporations should have the right to use their resources to support causes that they believe in, even if those causes are controversial. Overall, Bill 118 s 187 is a contentious piece of legislation that raises important questions about the role of corporations in society and the extent to which they should be allowed to engage in activism. It remains to be seen whether the bill will ultimately be passed into law.
Congressional Summary of S 187
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.
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Current Status of Bill S 187
Bill S 187 is currently in the status of Bill Introduced since January 31, 2023. Bill S 187 was introduced during Congress 118 and was introduced to the Senate on January 31, 2023. Bill S 187's most recent activity was Read twice and referred to the Committee on Finance. as of January 31, 2023Bipartisan Support of Bill S 187
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
0Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 187
Primary Policy Focus
TaxationAlternate Title(s) of Bill S 187
No Tax Breaks for Radical Corporate Activism Act of 2023No Tax Breaks for Radical Corporate Activism Act of 2023A bill to amend the Internal Revenue Code of 1986 to deny the trade or business expense deduction for the reimbursement of employee costs of child gender transition procedure or travel to obtain an abortion.Comments
Most relevant
Sponsors and Cosponsors of S 187
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