US HB4377 | 2015-2016 | 114th Congress
Status
Spectrum: Partisan Bill (Republican 30-0)
Status: Introduced on January 13 2016 - 25% progression, died in committee
Action: 2016-01-13 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 13 2016 - 25% progression, died in committee
Action: 2016-01-13 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
American Business Competitiveness Act of 2015 This bill amends the Internal Revenue Code to: reduce the tax rate on the net business income of individual and corporate taxpayers to a maximum 25%; allow full expensing of deductible investment expenses in the current taxable year; redefine "net business income" to allow the deduction of the cost of business purchases; convert to a territorial system for taxing overseas income; apply the same tax rate to interest income of individuals that is applicable to dividends and capital gains income; and allow a five-year carryback of net operating losses and an indefinite carryforward of such losses.
Title
American Business Competitiveness Act of 2015
Sponsors
| Rep. Devin Nunes [R-CA] | Rep. Patrick Tiberi [R-OH] | Rep. Charles Boustany [R-LA] | Rep. Kenny Marchant [R-TX] |
| Rep. George Holding [R-NC] | Rep. Robert Pittenger [R-NC] | Rep. Gary Palmer [R-AL] | Rep. Steve Russell [R-OK] |
| Rep. Michael Simpson [R-ID] | Rep. Trent Franks [R-AZ] | Rep. Chris Stewart [R-UT] | Rep. Ken Calvert [R-CA] |
| Rep. Stephen Knight [R-CA] | Rep. Mimi Walters [R-CA] | Rep. David Valadao [R-CA] | Rep. Darrell Issa [R-CA] |
| Rep. Mark Amodei [R-NV] | Rep. Ted Yoho [R-FL] | Rep. Cresent Hardy [R-NV] | Rep. Tom Cole [R-OK] |
| Rep. Mike Pompeo [R-KS] | Rep. David Roe [R-TN] | Rep. Charles Fleischmann [R-TN] | Rep. Tom Emmer [R-MN] |
| Rep. Billy Long [R-MO] | Rep. Dave Brat [R-VA] | Rep. David Rouzer [R-NC] | Rep. Reid Ribble [R-WI] |
| Rep. James Sensenbrenner [R-WI] | Rep. Mick Mulvaney [R-SC] |
History
| Date | Chamber | Action |
|---|---|---|
| 2016-01-13 | House | Referred to the House Committee on Ways and Means. |
| 2016-01-13 | House | Introduced in House |
Subjects
Accounting and auditing
Aging
Air quality
Alternative and renewable resources
Building construction
Business expenses
Business investment and capital
Corporate finance and management
Disability and paralysis
Disaster relief and insurance
Endangered and threatened species
Energy efficiency and conservation
Environmental regulatory procedures
Foreign and international corporations
Hybrid, electric, and advanced technology vehicles
Income tax credits
Income tax deductions
Income tax rates
Interest, dividends, interest rates
Mining
Motor fuels
Oil and gas
Research and development
Securities
Tax administration and collection, taxpayers
Taxation
Taxation of foreign income
Television and film
Transportation costs
Water quality
Worker safety and health
Aging
Air quality
Alternative and renewable resources
Building construction
Business expenses
Business investment and capital
Corporate finance and management
Disability and paralysis
Disaster relief and insurance
Endangered and threatened species
Energy efficiency and conservation
Environmental regulatory procedures
Foreign and international corporations
Hybrid, electric, and advanced technology vehicles
Income tax credits
Income tax deductions
Income tax rates
Interest, dividends, interest rates
Mining
Motor fuels
Oil and gas
Research and development
Securities
Tax administration and collection, taxpayers
Taxation
Taxation of foreign income
Television and film
Transportation costs
Water quality
Worker safety and health
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/house-bill/4377/all-info |
| Text | https://www.congress.gov/114/bills/hr4377/BILLS-114hr4377ih.pdf |
