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Repealing Corporate Minimum Tax: Relief for Large Businesses.

This legal document aims to eliminate a specific minimum tax for large corporations. This means that tax rules for these businesses revert to their state before this tax was introduced. For citizens, this could indirectly affect the economy and jobs, as companies will have different financial burdens.
Key points
The act repeals the minimum tax that large corporations were required to pay, regardless of other deductions.
Tax rules for businesses revert to their previous state, which may influence their investment and employment decisions.
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Expired
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Additional Information
Print number: 117_HR_9030
Sponsor: Rep. Arrington, Jodey C. [R-TX-19]
Process start date: 2022-09-29
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

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

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9030.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-09-29.

What are the main provisions?

Key points include:

  • The act repeals the minimum tax that large corporations were required to pay, regardless of other deductions.
  • Tax rules for businesses revert to their previous state, which may influence their investment and employment decisions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Arrington, Jodey C. [R-TX-19].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Economy