[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4781 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4781

   To amend the Internal Revenue Code of 1986 to reduce the maximum 
                  corporate rate of tax to 22 percent.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 4, 2010

  Mr. Tiahrt introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to reduce the maximum 
                  corporate rate of tax to 22 percent.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Keeping American Businesses 
Competitive Act of 2010''.

SEC. 2. REDUCTION IN CORPORATE MARGINAL INCOME TAX RATES.

    (a) General Rule.--Paragraph (1) of section 11(b) of the Internal 
Revenue Code of 1986 is amended--
            (1) by inserting ``and'' at the end of subparagraph (A),
            (2) by striking ``25 percent'' in subparagraph (B) and 
        inserting ``22 percent'',
            (3) by striking ``but does not exceed $75,000,'' in 
        subparagraph (B) and inserting a period,
            (4) by striking subparagraphs (C) and (D), and
            (5) by striking the last 2 sentences.
    (b) Personal Service Corporations.--Paragraph (2) of section 11(b) 
of such Code is amended by striking ``35 percent'' and inserting ``22 
percent''.
    (c) Conforming Amendments.--Paragraphs (1) and (2) of section 
1445(e) of such Code are each amended by striking ``35 percent'' and 
inserting ``22 percent''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2009, except that 
the amendments made by subsection (c) shall take effect on the date of 
the enactment of this Act.
                                 <all>