H.R.4639: Tax Credit Restoration Act of 2021

About This Bill

  • Introduced July 22, 2021
  • Latest Major Action July 22, 2021

Bill Version

Bill Summary

Tax Credit Restoration Act of 2021 This bill requires the calculation of the base erosion minimum tax amount without regard to any offsetting credits. The base erosion and anti-abuse tax is levied on certain large corporations with deductions for amounts paid or accrued to foreign-related parties that are greater than 3% of their total deductions (2% in the case of certain banks or registered securities dealers).

(Source: Library of Congress)

Bill Actions

Date Description
July 22, 2021
Referred to the House Committee on Ways and Means.
July 22, 2021

Introduced in the House by Suzan K. DelBene (D-Wash.)

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