Corporate Assets Should be used to Hire Act

Summary

Corporate Assets Should be used to Hire Act - Amends the Internal Revenue Code to impose on domestic corporations in taxable years beginning in 2011 or 2012 an additional 40% tax on the excess of their retained earnings over their average retained earnings for the preceding 3 taxable years.  Exempts certain corporations from such tax, including corporations with retained earnings of less than $5 million in a taxable year.

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Timeline

1. 22 September 2011

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 22 September 2011

   Introduced

   Introduced in House

   Source: IntroReferral

3. 22 September 2011

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 22 September 2011 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 September 2011

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 22 September 2011

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 22 September 2011

  Open at official source

Sponsors

• MICHAEL CAPUANO · D · Sponsor
• Rep. Kucinich, Dennis J. [D-OH-10] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Act for the 99%