Corporate Tax Dodging Prevention Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 7933 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 7933 To amend the Internal Revenue Code of 1986 to modify the treatment of foreign corporations, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 10, 2024 Ms. Schakowsky introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to modify the treatment of foreign corporations, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Corporate Tax Dodging Prevention Act''. SEC. 2. RESTORATION OF PROGRESSIVE CORPORATE TAX RATE. (a) In General.--Section 11(b) of the Internal Revenue Code of 1986 is amended to read as follows: ``(b) Amount of Tax.-- ``(1) In general.--The amount of the tax imposed by subsection (a) shall be the sum of-- ``(A) 15 percent of so much o…