HR 4639 · 117th Congress · Taxation

Tax Credit Restoration Act of 2021

Introduced 2021-07-22· Sponsored by Rep. DelBene, Suzan K. [D-WA-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2021-07-22)

Plain Language Summary

[AI summary unavailable — showing source text] 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).…

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