US Congress House Bill 2078 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on April 6 2017 - 25% progression, died in committee
Action: 2017-04-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Jump Start America Act of 2017 This bill amends the Internal Revenue Code, with respect to several corporate and individual income tax policies, to: revise individual income tax rates to establish a 20% rate on taxable income of $1 million or less and a 30% rate on taxable income over $1 million, with an adjustment for inflation after 2016; revise the income tax rates on corporations to impose a single 20% rate on corporate taxable income; modify the formula for calculating the tax on the net capital gains of individual taxpayers to provide for a maximum 15% rate on the adjusted net capital gain of such taxpayers; reduce the tax rate on current and accumulated foreign earnings of U.S. corporations reinvested in the United States and make the lower rate permanent; increase the additional depreciation allowance (bonus depreciation) from 50% to 100% of the adjusted basis of qualifying business property and to make such increased allowance permanent; reduce Social Security and Medicare payroll taxes for employers, employees, and the self-employed; and repeal the federal estate, gift, and generation-skipping transfer taxes.

Jump Start America Act of 2017

Rep. Roger Williams [R-TX]

Date	Chamber	Action
2017-04-06	House	Referred to the House Committee on Ways and Means.
2017-04-06	House	Introduced in House

HB30 (Related) 2017-01-03 - Referred to the House Committee on Ways and Means.
HB198 (Related) 2017-01-03 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/2078/all-info
Text	https://www.congress.gov/115/bills/hr2078/BILLS-115hr2078ih.pdf