Small Business Tax Relief Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 8201 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 8201 To amend the Internal Revenue Code of 1986 to lower the corporate tax rate for small businesses and close the carried interest loophole, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 1, 2024 Ms. Craig 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 lower the corporate tax rate for small businesses and close the carried interest loophole, 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 ``Small Business Tax Relief Act''. SEC. 2. GRADUATED CORPORATE TAX RATE TO SUPPORT SMALL BUSINESSES. (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.--Except as pro…