HR 4377
114th Congress
House
American Business Competitiveness Act of 2015
Official title: To amend the Internal Revenue Code of 1986 to tax business income on a cash flow basis, and for other purposes.
Taxation
Accounting and auditingAgingAir qualityAlternative and renewable resources
More subjectsShow fewer subjects
Building constructionBusiness expensesBusiness investment and capitalCorporate finance and managementDisability and paralysisDisaster relief and insuranceEndangered and threatened speciesEnergy efficiency and conservationEnvironmental regulatory proceduresForeign and international corporationsHybrid, electric, and advanced technology vehiclesIncome tax creditsIncome tax deductionsIncome tax ratesInterest, dividends, interest ratesMiningMotor fuelsOil and gasResearch and developmentSecuritiesTax administration and collection, taxpayersTaxation of foreign incomeTelevision and filmTransportation costsWater qualityWorker safety and health
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 13, 2016
Referred to the House Committee on Ways and Means.
Jan 13, 2016
Introduced in House
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Latest action
Referred to the House Committee on Ways and Means.
Plain-English summary
American Business Competitiveness Act of 2015
This bill amends the Internal Revenue Code to:
- reduce the tax rate on the net business income of individual and corporate taxpayers to a maximum 25%;
- allow full expensing of deductible investment expenses in the current taxable year;
- redefine "net business income" to allow the deduction of the cost of business purchases;
- convert to a territorial system for taxing overseas income;
- apply the same tax rate to interest income of individuals that is applicable to dividends and capital gains income; and
- allow a five-year carryback of net operating losses and an indefinite carryforward of such losses.
Bill text
1 version
- Introduced in House Formatted Text PDF Formatted XML
Committees of jurisdiction
1
Cosponsors
17
Cite this page
U.S. Congress. (2026). H.R. 4377: American Business Competitiveness Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-HR-4377/
"H.R. 4377: American Business Competitiveness Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-4377/.
H.R. 4377, 114th Cong. (2026), https://openamerica.io/bill/114-HR-4377/.
[H.R. 4377: American Business Competitiveness Act of 2015](https://openamerica.io/bill/114-HR-4377/)