[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 86 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                 H. R. 86

 To prevent pending tax increases, permanently repeal estate and gift 
     taxes, and permanently repeal the alternative minimum tax on 
                  individuals, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 2011

   Mrs. Bachmann (for herself, Mr. King of Iowa, and Mr. Schilling) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To prevent pending tax increases, permanently repeal estate and gift 
     taxes, and permanently repeal the alternative minimum tax on 
                  individuals, and for other purposes.

    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 ``End Tax Uncertainty Act of 2011''.

SEC. 2. EGTRRA AND JGTRRA TAX RELIEF MADE PERMANENT.

    (a) Economic Growth and Tax Relief Reconciliation Act of 2001.--
Title IX of the Economic Growth and Tax Relief Reconciliation Act of 
2001 is hereby repealed.
    (b) Income Tax Rates on Dividends and Net Capital Gain.--Section 
303 of the Jobs and Growth Tax Relief Reconciliation Act of 2003 is 
hereby repealed.
    (c) Effective Date.--The amendments made by this section shall take 
effect on the date of the enactment of this Act.

SEC. 3. ESTATE AND GIFT TAX PERMANENTLY REPEALED.

    Effective for estates of decedents dying, gifts made, or generation 
skipping transfers, after December 31, 2010, subtitle B of the Internal 
Revenue Code of 1986 is repealed.

SEC. 4. REPEAL OF ALTERNATIVE MINIMUM TAX ON INDIVIDUALS.

    (a) In General.--Subsection (a) of section 55 (relating to 
alternative minimum tax imposed) is amended by adding at the end the 
following new flush sentence:
``Except in the case of a corporation, no tax shall be imposed by this 
section for any taxable year beginning after December 31, 2007, and the 
tentative minimum tax of any taxpayer other than a corporation for any 
such taxable year shall be zero for purposes of this title.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2010.

SEC. 5. MAXIMUM CORPORATE INCOME TAX RATE REDUCED TO 25 PERCENT.

    (a) In General.--Paragraph (1) of section 11(b) of the Internal 
Revenue Code of 1986 is amended by striking ``but does not exceed 
$75,000'' and all that follows and inserting a period.
    (b) Personal Service Corporations.--Paragraph (2) of section 11(b) 
of such Code is amended by striking ``35 percent'' and inserting ``25 
percent''.
    (c) Conforming Amendments.--
            (1) Subsection (a) of section 1201 of such Code is amended 
        by striking ``35 percent'' each place it appears and inserting 
        ``25 percent''.
            (2) Paragraphs (1) and (2) of section 1445(e) of such Code 
        are each amended by striking ``35 percent'' and inserting ``25 
        percent''.
    (d) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2010.
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