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- H.R.5962
H.R.5962: American Business Competitiveness Act of 2010
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about taxation
- Introduced July 29, 2010
- Latest Major Action July 30, 2010
Bill Sponsor
Bill Summary
American Business Competitiveness Act of 2010 - Amends the Internal Revenue Code to: (1) reduce to 23% the maximum income tax rate for corporations; (2) set forth rules for the allocation of foreign-related tax credits and deductions; (3) repeal rules for the application of the worldwide allocation of interest for purposes of computing the limitation on the foreign tax credit; (4) repeal the last-in, first-out (LIFO) and the lower of cost or...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Referred to the House Committee on Ways and Means.
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Sponsor introductory remarks on measure.
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| July 29, 2010 |
Introduced in the House by Dan Maffei (D-N.Y.) |