[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 934 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 934

To amend the Internal Revenue Code of 1986 to reduce the corporate rate 
                         of tax to 18 percent.


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                    IN THE HOUSE OF REPRESENTATIVES

                             March 3, 2011

 Mr. Sessions 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 corporate rate 
                         of tax to 18 percent.

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

SECTION 1. CORPORATE INCOME TAX RATE REDUCED TO 18 PERCENT.

    (a) In General.--Paragraph (1) of section 11(b) of the Internal 
Revenue Code of 1986 is amended by striking ``shall be the sum of--'' 
and all that follows through the period at the end and inserting 
``shall be 18 percent of taxable income.''.
    (b) Personal Service Corporations.--Paragraph (2) of section 11(b) 
of such Code is amended by striking ``35 percent'' and inserting ``18 
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 
        ``18 percent''.
            (2) Paragraphs (1) and (2) of section 1445(e) of such Code 
        are each amended by striking ``35 percent'' and inserting ``18 
        percent''.
    (d) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2010.
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