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Tax Credit Restoration Act of 2021

USA117th CongressHR-4639| House 
| Updated: 7/22/2021
Suzan K. DelBene

Suzan K. DelBene

Democratic Representative

Washington

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Tax Credit Restoration Act of 2021 This bill requires the calculation of the base erosion minimum tax amount without regard to any offsetting credits. The base erosion and anti-abuse tax is levied on certain large corporations with deductions for amounts paid or accrued to foreign-related parties that are greater than 3% of their total deductions (2% in the case of certain banks or registered securities dealers).
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Timeline
Jul 22, 2021
Introduced in House
Jul 22, 2021
Referred to the House Committee on Ways and Means.
  • July 22, 2021
    Introduced in House


  • July 22, 2021
    Referred to the House Committee on Ways and Means.

Taxation

Tax Credit Restoration Act of 2021

USA117th CongressHR-4639| House 
| Updated: 7/22/2021
Tax Credit Restoration Act of 2021 This bill requires the calculation of the base erosion minimum tax amount without regard to any offsetting credits. The base erosion and anti-abuse tax is levied on certain large corporations with deductions for amounts paid or accrued to foreign-related parties that are greater than 3% of their total deductions (2% in the case of certain banks or registered securities dealers).
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 22, 2021
Introduced in House
Jul 22, 2021
Referred to the House Committee on Ways and Means.
  • July 22, 2021
    Introduced in House


  • July 22, 2021
    Referred to the House Committee on Ways and Means.
Suzan K. DelBene

Suzan K. DelBene

Democratic Representative

Washington

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted