Tax Credit Restoration Act of 2021
Summary
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).
Bill status
in committee
1 of 4 stages cleared
Introduction
Jul 2021
Committee Review
Floor Vote
President
Introduced Jul 22, 2021
Last action Jul 22, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jul 22, 2021
Committee
Referred to the House Committee on Ways and Means.
lower
Jul 22, 2021
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Suzan K. DelBene
DDemocratic
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