H.R.937: Rising Tides Act of 2011

About This Bill

  • This bill was introduced in the 112th Congress
  • This bill is primarily about taxation
  • Introduced March 4, 2011
  • Latest Major Action March 4, 2011

Bill Sponsor

Bill Cosponsors

64 (1 Democrat, 63 Republicans)

Bill Summary

Rising Tides Act of 2011 - Amends the Internal Revenue Code to: (1) reduce from 35% to 23% the maximum income tax rate for corporations, including personal service corporations; and (2) repeal certain requirements and limitations on the tax deduction for cash dividends received by a corporation which is a U.S. shareholder from a controlled foreign corporation and make such deduction permanent.

(Source: Library of Congress)

Bill Actions

Date Description
Referred to the House Committee on Ways and Means.
March 4, 2011

Introduced in the House by Tim Scott (R-S.C.)

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