Corporate Welfare Reduction and Job Preservation Act of 2006

Summary

Corporate Welfare Reduction and Job Preservation Act of 2006 - Amends the Internal Revenue Code to require a 50% reduction in tax benefits for certain large profitable corporations that reduce their employee workforce by 15% or more. Defines "large profitable corporation" as a corporation or partnership that is not defined as a small business concern under the Small Business Act and which has a taxable income that exceeds net operating losses during a specified five-year period. Amends the Foreign Assistance Act of 1961 and the Export-Import Act of 1945 to require large profitable corporations (as defined by this Act) that reduce their employee workforce by 15% or more to immediately repay loans and forfeit insurance benefits and credit lines provided by such Acts.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 11 May 2006

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 11 May 2006

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 11 May 2006

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.