A bill to reduce the corporate income tax rate by 8 percentage points by repealing DISC and the investment credit for corporations.

Summary

Repeals the corporate investment credit under the Internal Revenue Code. Reduces the corporate normal tax rate to 16 percent. Terminates the tax exemption treatment accorded to Domestic International Sales Corporations (DISC). Reduces the corporate surtax rate to 24 percent.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 February 1976

   Introduced

   Introduced in House

   Source: IntroReferral

2. 26 February 1976

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 February 1976

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 26 February 1976

  Open at official source

Sponsors

• Rep. Gibbons, Sam [D-FL-7] · D · Sponsor
• · hswm00 · Standing

Related records

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