HR 937 112th Congress House

Rising Tides Act of 2011

Official title: To amend the Internal Revenue Code of 1986 to reduce the corporate rate of tax and to change to a more territorial method of taxing corporations.

Introduced: March 14, 2011 Introduced by: Scott, Tim Republican · South Carolina See on congress.gov

Taxation Corporate finance and managementForeign and international corporationsIncome tax deductionsIncome tax rates

More subjectsShow fewer subjects

Interest, dividends, interest ratesTaxation of foreign income

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 4, 2011

Referred to the House Committee on Ways and Means.

Mar 4, 2011

Introduced in House

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Latest action March 4, 2011

Referred to the House Committee on Ways and Means.

Plain-English summary Congressional Research Service

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.

Bill text 1 version

Introduced in House Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 1

Ways and Means Committee
House of Representatives

Cosponsors 36

BURTON, DAN

· Mar 30, 2011

Foxx, Virginia

North Carolina · Mar 17, 2011

Rokita, Todd