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Ending Tax-Free Status for Corporate Mega-Mergers

This law eliminates special tax exemptions that currently allow very large corporations to conduct mergers and acquisitions without immediately paying tax on the transaction. This change applies to companies whose combined annual gross receipts exceed $500 million. The goal is to increase the cost of market consolidation for the largest players, which may indirectly affect competition and consumer prices.
Key points
Eliminates the "tax-free" status for mergers and acquisitions if the combined annual gross receipts of the companies exceed $500 million.
The change only affects the largest corporate transactions, leaving small and medium-sized businesses unaffected.
The rule aims to discourage the formation of giant monopolies by increasing the tax costs associated with these deals.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_S_4011
Sponsor: Sen. Whitehouse, Sheldon [D-RI]
Process start date: 2024-03-21
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Stop Subsidizing Giant Mergers Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4011.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-03-21.

What are the main provisions?

Key points include:

  • Eliminates the "tax-free" status for mergers and acquisitions if the combined annual gross receipts of the companies exceed $500 million.
  • The change only affects the largest corporate transactions, leaving small and medium-sized businesses unaffected.
  • The rule aims to discourage the formation of giant monopolies by increasing the tax costs associated with these deals.
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 Sen. Whitehouse, Sheldon [D-RI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy