[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2911 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2911

  To amend the Internal Revenue Code of 1986 to repeal the corporate 
                              income tax.


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                    IN THE HOUSE OF REPRESENTATIVES

                           September 14, 2011

 Mr. Gohmert (for himself, Mr. Burgess, Mr. Ross of Florida, Mr. Mica, 
 and Mr. Farenthold) 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 repeal the corporate 
                              income tax.

    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 ``American Jobs Act of 2011''.

SEC. 2. REPEAL OF CORPORATE INCOME TAX.

    (a) In General.--Subsection (b) of section 11 of the Internal 
Revenue Code of 1986 is amended to read as follows:
    ``(b) Amount of Tax.--The amount of the tax imposed by subsection 
(a) shall be zero percent of taxable income.''.
    (b) Repeal of Alternative Minimum Tax for Corporations.--
Subparagraph (B) of section 55(b)(1) of such Code is amended to read as 
follows:
                    ``(B) Corporations.--In the case of a corporation, 
                the tentative minimum tax for the taxable year is 
                zero.''.
    (c) Conforming Amendments.--
            (1) Paragraphs (1) and (2) of section 1445(e) of such Code 
        are each amended by striking ``35 percent'' and inserting ``0 
        percent''.
            (2) Subparagraph (A) of section 7518(g)(6) of such Code is 
        amended by striking ``34 percent'' and inserting ``0 percent''.
            (3) Paragraph (2) of section 53511(f) of title 46, United 
        States Code, is amended by striking ``34 percent'' and 
        inserting ``0 percent''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2011, except that 
the amendments made by subsection (c) shall take effect on such date.
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