Make America Competitive Act of 2016

Summary

Make America Competitive Act of 2016 This bill amends the Internal Revenue Code to allow corporations to elect a 10% tax rate on their taxable income if such corporations: (1) offer their full-time employees group health insurance coverage, (2) offer such employees a defined contribution pension plan, (3) provide their employees with regular pay increases, and (4) make additional social security contributions for employees who do not have a defined benefit pension plan. Such corporations may also elect to repatriate their current and accumulated foreign earnings at a 5% tax rate. The bill amends title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act to increase the primary insurance amount (the retirement benefit a social security recipient would receive if benefits are taken at normal retirement age) of employees for whom additional social security contributions are made under this bill.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 April 2016

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• Introduced in House (PDF)

  Introduced in House · EN · 29 April 2016

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• Introduced in House

  summary · EN · 29 April 2016

  Open at official source

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