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S. 1559 118th Congress Senate

Book Minimum Tax Repeal Act

Official title: A bill to amend the Internal Revenue Code of 1986 to repeal the corporate alternative minimum tax.

Introduced: May 11, 2023 Introduced by: John Barrasso Republican · Wyoming See on congress.gov
Taxation
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 11, 2023
Introduced in Senate
May 11, 2023
Read twice and referred to the Committee on Finance.
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 Latest action May 11, 2023

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Book Minimum Tax Repeal Act

This bill repeals the 15% alternative tax on the financial statement (i.e., book) income of certain corporations. The tax applies to companies that report over $1 billion in profits to their shareholders.

 Related & companion bills 1
  • HR 3210 Identical bill Book Minimum Tax Repeal Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 9

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

  • SBL STRATEGIES, LLC
    for FIRSTENERGY SERVICES COMPANY · Ohio · 3rd Quarter 2026 (July 1 - Sep 30)
  • SBL STRATEGIES, LLC
    for FIRSTENERGY SERVICES COMPANY · Ohio · 2nd Quarter 2026 (Apr 1 - June 30)
  • SBL STRATEGIES, LLC
    for FIRSTENERGY SERVICES COMPANY · Ohio · 1st Quarter 2026 (Jan 1 - Mar 31)
  • SBL STRATEGIES, LLC
    for FIRSTENERGY SERVICES COMPANY · Ohio · 4th Quarter 2025 (Oct 1 - Dec 31)
  • SBL STRATEGIES, LLC
    for FIRSTENERGY SERVICES COMPANY · Ohio · 3rd Quarter 2025 (July 1 - Sep 30)
  • SBL STRATEGIES, LLC
    for FIRSTENERGY SERVICES COMPANY · Ohio · 2nd Quarter 2025 (Apr 1 - June 30)

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

See all 9 filings →
 Cosponsors 9
All 9 Republican 9
R
Ricketts, Pete
Nebraska · Jul 11, 2023
 R
Blackburn, Marsha
Tennessee · May 11, 2023
 R
Cassidy, Bill
Louisiana · May 11, 2023
 R
Crapo, Mike
Idaho · May 11, 2023
 R
Daines, Steve
Montana · May 11, 2023
 R
Lankford, James
Oklahoma · May 11, 2023
 R
Lummis, Cynthia M.
Wyoming · May 11, 2023
 R
Risch, James E.
Idaho · May 11, 2023
 R
Young, Todd
Indiana · May 11, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1559: Book Minimum Tax Repeal Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-1559/
MLA
"S. 1559: Book Minimum Tax Repeal Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-1559/.
Bluebook (legal)
S. 1559, 118th Cong. (2026), https://openamerica.io/bill/118-S-1559/.
Markdown link
[S. 1559: Book Minimum Tax Repeal Act](https://openamerica.io/bill/118-S-1559/)
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