Book Minimum Tax Repeal Act
- Introduced May 11
- Committee May 11
- Passed House Next
- Passed Senate Not yet
- To President Not yet
- Law Not yet
Where it stands
In committee, May 11, 2023Next: House vote
1266d ago May 11, 2023: Referred to the House Committee on Ways and Means.
Final votes
No roll callsNo recorded vote on this bill yet
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Votes
No recorded roll-call vote on this bill yet
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Summary
Book Minimum Tax Repeal Act
Full summary1 paragraphs
This bill repeals the 15% alternative tax on the financial statement (i.e., book) income of certain corporations. The tax applies to companies that report over $1 billion in profits to their shareholders.
Library of Congress summary, May 11, 2023
Summary versions
- Introduced in HouseMay 11, 2023
Actions
- HouseIntroduced in HouseMay 11, 2023
- HouseReferred to the House Committee on Ways and Means.May 11, 2023
Bill record
Text versions1
- Introduced in HouseMay 11, 2023PDF: Introduced in House
Committees1
- House Ways and Means CommitteeReferred To May 11, 2023
Sponsor and cosponsors0 cosponsors
- Rep. Jodey Arrington (R-TX-19)Sponsor, May 11, 2023
Amendments0
No amendments offered
Cost estimates and reports0
No cost estimate or committee report yet
Titles2
Short titles
- Book Minimum Tax Repeal ActShort Title(s) as Introduced
Official titles
- To amend the Internal Revenue Code of 1986 to repeal the corporate alternative minimum tax.Official Title as Introduced
Subjects1
Policy area
Related bills1
- S. 1559 118th, Identical bill Book Minimum Tax Repeal Act
Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.