3.0.0 5158 2023-01-11T13:31:30Z 2023-01-11T13:31:30Z House HR 2016-04-29 114 [Congressional Record Volume 162, Number 67 (Friday, April 29, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. McKINLEY:H.R. 5158.Congress has the power to enact this legislation pursuantto the following:Section 8 of Article I of the U.S. Constitution.[Page H2151]]]> hswm00 Ways and Means Committee House Standing Referred to 2016-04-29T13:01:30Z Bring Jobs Back to America Act of 2015 114 3083 HR 2015-07-15 Referred to the House Committee on Ways and Means. Related bill CRS 2016-04-29 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2016-04-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-04-29 Introduced in House IntroReferral 1000 9 Library of Congress M001180 Rep. McKinley, David B. [R-WV-1] David McKinley R WV B. 1 N Taxation Corporate finance and management Employee benefits and pensions Health care costs and insurance Income tax rates Social security and elderly assistance Taxation of foreign income U.S. and foreign investments Wages and earnings Taxation 00 2016-04-29 Introduced in House 2016-08-31T19:30:55Z Make America Competitive Act of 2016

This bill amends the Internal Revenue Code to allow corporations to elect a 10% tax rate on their taxable income if such corporations: (1) offer their full-time employees group health insurance coverage, (2) offer such employees a defined contribution pension plan, (3) provide their employees with regular pay increases, and (4) make additional social security contributions for employees who do not have a defined benefit pension plan. Such corporations may also elect to repatriate their current and accumulated foreign earnings at a 5% tax rate.

The bill amends title II (Old-Age, Survivors, and Disability Insurance) of the Social Security Act to increase the primary insurance amount (the retirement benefit a social security recipient would receive if benefits are taken at normal retirement age) of employees for whom additional social security contributions are made under this bill.

]]> Make America Competitive Act of 2016 Display Title Make America Competitive Act of 2016 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide a conditional 10 percent rate of tax for certain businesses. Introduced in House IH Short Titles as Introduced Make America Competitive Act of 2016 Introduced in House 2016-04-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr5158ih/xml/BILLS-114hr5158ih.xml 2016-04-29 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.