3.0.0 5444 2023-01-11T13:25:38Z 2023-01-11T13:25:38Z House H HR 2014-09-10 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. POCAN:H.R. 5444.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3The Congress shall have Power . . . To regulate Commercewith foreign Nations, and among the several States, and withthe Indian Tribes.[Page H7433]]]> hswm00 Ways and Means Committee House Standing Referred to 2014-09-10T14:01:15Z 2014-09-10 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2014-09-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-09-10 Introduced in House IntroReferral 1000 9 Library of Congress P000607 Rep. Pocan, Mark [D-WI-2] Mark Pocan D WI 2 N S000480 Rep. Slaughter, Louise McIntosh [D-NY-25] LOUISE SLAUGHTER D NY M. 25 2014-12-10 False Taxation Accounting and auditing Administrative law and regulatory procedures Corporate finance and management Department of the Treasury Income tax deductions Interest, dividends, interest rates Tax administration and collection, taxpayers Taxation

00 2014-09-10 Introduced in House 2014-10-29T21:41:34Z Corporate Fair Share Tax Act - Amends the Internal Revenue Code to limit the tax deduction of the interest expense of a U.S. corporation that is a member of a financial reporting group (a group that prepares consolidated financial statements according to accepted accounting principles or international financial reporting standards) to: (1) the amount of interest on indebtedness of the corporation includible in the corporation's gross income for the taxable year plus its proportionate share of the group's net interest expense in the taxable year; or (2) 10% of the corporation's adjusted taxable income, if the corporation fails to substantiate its proportionate share of interest expense. Exempts a corporation that is predominantly engaged in the active conduct of a banking, financing, or similar business or that has less than $5 million of net interest expense for the taxable year.

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Display Title Official Title as Introduced Introduced in House IH Short Titles as Introduced Introduced in House 2014-09-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr5444ih/xml/BILLS-113hr5444ih.xml 2014-09-10 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.