HR 3018 · 112th Congress · Taxation

Corporate Assets Should be used to Hire Act

Introduced 2011-09-22· Sponsored by Rep. Capuano, Michael E. [D-MA-8]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2011-09-22)

Plain Language Summary

[AI summary unavailable — showing source text] Corporate Assets Should be used to Hire Act - Amends the Internal Revenue Code to impose on domestic corporations in taxable years beginning in 2011 or 2012 an additional 40% tax on the excess of their retained earnings over their average retained earnings for the preceding 3 taxable years.  Exempts certain corporations from such tax, including corporations with retained earnings of less than $5 million in a taxable year.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Kucinich, Dennis J. [D-OH-10]OH