Corporate Tax Dodging Prevention Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4098 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4098 To amend the Internal Revenue Code of 1986 to modify the treatment of foreign corporations, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 10, 2024 Mr. Sanders introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ 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 mu…