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- S.315
S.315: Corporate Welfare Reduction Act of 1997
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced Feb. 12, 1997
- Latest Major Action Feb. 12, 1997
Bill Sponsor
Bill Summary
Corporate Welfare Reduction Act of 1997 - Amends the Internal Revenue Code, with respect to determining the foreign tax credit, to replace the formula for reducing the amount of oil and gas extraction taxes taken into account. Disallows as creditable amounts: (1) any taxes paid or accrued to a foreign country with respect to foreign oil and gas income (including extraction income) which are not imposed under the country's generally applicable...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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| Feb. 12, 1997 |
Introduced in the Senate by Tom Harkin (D-Iowa) |