CORPORATIONS

Articles and editorials

Wages of Failure on Wall Street, E1491 [14JY]

Bills and resolutions

Bankruptcy: reform rules governing venue in bankruptcy cases to combat forum shopping by corporate debtors (see S. 314), S1115 [8FE]

Business and industry: repeal Federal laws that hold corporate chief executive officers criminally liable for the content and quality of their companies' financial report in certain cases (see H.R. 1657), H2101 [14AP]

———require improved disclosure of corporate charitable contributions (see H.R. 543), H349 [2FE]

Buy American Act: increase requirement for American-made content and tighten waiver provisions (see S. 395), S1513 [16FE]

Corporate Entitlement Reform Commission: establish (see H.R. 4254), H10038 [8NO]

Corporate Subsidy Reform Commission: establish (see H.R. 974), H795 [17FE]

Dept. of Commerce: make permanent the authority to conduct quarterly financial report program (see H.R. 2385), H3433 [17MY]

Dept. of Justice: improve investigation of criminal antitrust offenses (see S. 443), S1623 [17FE]

GAO: conduct study on consolidation of gasoline refiners, importers, producers, and wholesalers with retail sellers (see H.R. 3688), H7742 [7SE]

Government regulations: make internal auditing control requirements of companies subject to securities laws voluntary (see H.R. 1641), H2100 [14AP]

SEC: require enhanced disclosures of employee stock options and require study on economic impact of broad-based employee stock option plans (see H.R. 913), H792 [17FE]

Taxation: allow a credit to C corporations which have substantial employee ownership and encourage stock ownership by employees by excluding from gross income stock paid as compensation for services (see H.R. 3653), H7672 [6SE]

———allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies (see S. 1740), S10294 [21SE] (see H.R. 196), H77 [4JA] (see H.R. 2121), H3052 [5MY]

———allow look-through treatment of payments between related foreign corporations (see S. 750), S3413 [11AP] (see H.R. 1762), H2470 [21AP]

———allow new investment in, or mergers of biomedical research corporations without limiting tax benefits of net operating losses (see S. 1893), S11559 [19OC] (see H.R. 4082), H8985 [19OC]

———clarify that personal service corporations may continue to use the cash method of accounting (see S. 1782), S10594 [28SE] (see H.R. 2647), H4138 [26MY]

———clarify the application of tax code relative to regulated investment companies (see H.R. 4393), H11033 [18NO]

———deny employers a deduction for payments of excessive compensation (see H.R. 3260), H5740 [12JY]

———deny the foreign tax credit, and benefits of deferral, to companies doing business in Sudan until the Sudanese take steps to end genocide (see H.R. 1435), H1694 [17MR]

———disallow benefits claimed to arise from corporate transactions without substantial economic substance (see H.R. 2625), H4072 [25MY]

———expand incentives for construction and renovation of public schools (see S. 1538), S9284 [28JY] (see H.R. 1742), H2394 [20AP]

———extend the environmental tax on corporate income (see H.R. 4199), H9554 [2NO]

———increase transparency of certain corporate tax information and financial statements, discourage abusive tax sheltering activities, and restore investor confidence (see H.R. 1234), H1369 [10MR]

———limit recognition of gain to certain leveraged spin-merger transactions (see H.R. 4187), H9472 [1NO]

———make permanent the deduction for corporate donations of scientific property and computer technology (see H.R. 3398), H6327 [21JY]

———make reduction in individual capital gains tax rates permanent and further reduce and simplify such rates and reduce corporate capital gains rate (see H.R. 1500), H1844 [6AP]

———modify the active business definition relative to corporate reorganization or division (see S. 1327), S7613 [29JN] (see H.R. 2911), H4560 [15JN]

———permit startup partnerships and S corporations to elect taxable years other than required years (see H.R. 4006), H8733 [6OC]

———prevent corporate expatriation to avoid Federal taxation (see H.R. 3959), H8643 [29SE]

———prevent corporations from exploiting tax treaties to evade U.S. income tax and prevent manipulation of transfer prices by deflection of income to tax havens (see H.R. 1303), H1507 [15MR]

———prevent dividends received from corporations in tax havens from receiving a reduced rate (see S. 1363), S7820 [30JN]

———provide for an election for special tax treatment of certain S corporation conversions (see H.R. 1557), H1894 [12AP]

———provide incentives for investing in companies involved in space-related activities (see H.R. 1024), H846 [1MR]

———reduce recognition period for built-in gains for S corporations (see S. 965), S4547 [28AP] (see H.R. 2239), H3113 [10MY]

———repeal alternative minimum tax (see S. 1103), S5778 [23MY] (see H.R. 1186), H1263 [9MR]

———repeal tax deferral on income of controlled foreign corporations attributable to imported property (see S. 196), S574 [26JA] (see S. 872), S4108 [21AP]

———require a study on eliminating Federal taxes on individuals and corporations and replacing the Federal tax code with a transaction fee-based system (see H.R. 1601), H1968 [13AP]

———restore standards for determining employee status of technical workers (see H.R. 171), H77 [4JA] (see H.R. 3624), H7612 [29JY]

———restrict use of abusive tax shelters and offshore tax havens to inappropriately avoid Federal taxation (see S. 1565), S9467 [29JY]

———S corporation reform (see H.R. 4421), H11034 [18NO]

———treat controlled foreign corporations established in tax havens as domestic corporations (see S. 779), S3555 [13AP]

———treatment of unrelated business taxable income (see H.R. 1879), H2646 [27AP]

———valuation of employee personal use of noncommercial aircraft for purposes of Federal income tax inclusion (see S. 2031), S13160 [17NO]

Terrorism: stop from financing (see S. 1428), S8558 [20JY]

Letters

China National Offshore Oil Corp., takeover of Unocal Corp.: Representative Wolf, E1506 [15JY]

Reform rules governing venue in bankruptcy cases to combat forum shopping by corporate debtors: Berry D. Spears, S1128 [8FE]

———Commercial Law League of America, S1127 [8FE]

———Corinne Cooper, S1128 [8FE]

———Elizabeth Warren, S1127 [8FE]

———Greg Abbott, Texas Attorney General, S1126 [8FE]

———Jay L. Westbrook and Benno C. Schmidt, S1128 [8FE]

———L.E. Creel III, S1128 [8FE]

———Lynn M. LoPucki, S1128 [8FE]

———Robin Schausell, National Association of Credit Management, S1129 [8FE]

———Russell L. Munsch, S1129 [8FE]

———Scott Harshbarger, S1127 [8FE]

———Travis B. Plunkett, Consumer Federation of America, S1909 [2MR]

———William Greendyke, S1129 [8FE]

———several State attorneys general, S1903 [2MR]

Remarks in House

Berry, James: SBA Dwight D. Eisenhower Award for Excellence recipient, E810 [28AP]

Better Business Bureau of Central New England, Inc.: tribute to Torch Award for Marketplace Ethics recipients, E804 [27AP]

China National Offshore Oil Corp.: takeover of Unocal Corp., H5180 [27JN], H5358 [28JN], E1506 [15JY]

Dept. of Commerce: make permanent the authority to conduct quarterly financial report program (H.R. 2385), H5754-H5756 [13JY]

Depts. of Transportation, the Treasury, and HUD, the Judiciary, District of Columbia, and independent agencies: prohibit corporations incorporated in certain foreign countries from being eligible for Federal contracts, H5506-H5509 [30JN]

Disasters: commend efforts of various corporations for their charitable response to the tsunami that struck areas of South Asia, Southeast Asia, and Africa, E1597 [25JY]

Earle, Ronnie: dismissal of indictments by Texas prosecutor for illegal campaign contributions by corporations in exchange for contributions to educational programs on the role of corporations in American democracy, H4902 [22JN]

ExxonMobil Corp.: quarterly profits, H9337 [27OC], H9968 [8NO]

Government regulations: regulate excessive compensation of corporate officials, E1490 [14JY]

Hurricanes: tribute for efforts to provide relief for States impacted by Hurricanes Katrina and Rita, H10232 [16NO]

———tribute to response to Hurricane Katrina, E2305 [9NO]

Intel Foundation: tribute to tsunami relief efforts, E552 [5AP]

Louisville, KY: anniversary of Louisville Board of Independent Insurance Agents, E66 [25JA]

Miami, FL: anniversary of Jumbo's Restaurant, E38 [6JA]

———tribute to Padron Cigars (business), E36 [6JA]

Michigan: tribute to economic development efforts, E623 [12AP]

Oakland Community Housing Inc.: tribute, E231 [15FE]

Petroleum: investigate role of oil corporation officials in development of energy policy legislation, H10229 [16NO]

PMI Group, Inc.: anniversary as a publicly traded company, E2294 [8NO]

SEC: require enhanced disclosures of employee stock options and require study on economic impact of broad-based employee stock option plans (H.R. 913), H1349-H1352 [10MR], E289 [18FE]

Solvay Advanced Polymers, LLC: tribute, E833 [28AP]

Taxation: allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies (H.R. 2121), E890 [5MY]

———alternative minimum tax, H2642 [27AP]

———deny employers a deduction for payments of excessive compensation (H.R. 3260), E1469 [12JY]

———expand incentives for construction and renovation of public schools (H.R. 1742), E717 [21AP]

———extend alternative minimum tax relief, H11245-H11249, H11252-H11264 [8DE]

———extend the environmental tax on corporate income (H.R. 4199), E2258 [3NO]

———make reduction in individual capital gains tax rates permanent and further reduce and simplify such rates and reduce corporate capital gains rate (H.R. 1500), E534 [5AP]

———prevent corporate expatriation to avoid Federal taxation (H.R. 3959), E1983 [29SE]

———provide for an election for special tax treatment of certain S corporation conversions (H.R. 1557), E612 [12AP]

———reform alternative minimum tax, H10233 [16NO]

———repeal foreign sales corporation/extraterritorial income (FSC/ETI) tax program and replace with corporate rate deduction for domestic manufacturers, H1272 [10MR], H1626 [17MR]

Tishcon Corp.: tribute, E762 [26AP]

Wixom, MI: Ford Motor Co. plant closing, H1373 [14MR]

Remarks in Senate

Bankruptcy: increase accrual period for employee wage priority, S2307, S2311, S2312 [9MR]

———reform rules governing venue in bankruptcy cases to combat forum shopping by corporate debtors, S1902 [2MR]

———reform rules governing venue in bankruptcy cases to combat forum shopping by corporate debtors (S. 314), S1125 [8FE]

Bipartisan Trade Promotion Authority Act: prohibit funding for negotiations that weaken any trade remedy laws, S10061-S10065 [15SE]

Business and industry: prohibit U.S. companies from setting up foreign subsidiaries for purposes of doing business with terror-sponsoring nations, S8633 [21JY], S8903-S8905 [26JY]

Buy American Act: increase requirement for American-made content and tighten waiver provisions (S. 395), S1526-S1528 [16FE], S1607 [17FE]

China, People's Republic of: U.S. education and economic policy to address economic competition, S7390-S7393 [24JN], S7414-S7417 [27JN]

Committee on Foreign Acquisitions Affecting National Security: establish, S8609 [21JY]

Dept. of Commerce: make permanent the authority to conduct quarterly financial report program (H.R. 2385), S8499 [19JY], S8713 [21JY], S10459 [26SE]

Dept. of Justice: improve investigation of criminal antitrust offenses (S. 443), S1608, S1656, S1657 [17FE], S11850 [25OC], S11914 [26OC]

Dept. of State: submit report on proposed mergers of certain U.S. and foreign-owned companies, S8522, S8530 [20JY]

ExxonMobil Corp.: quarterly profits, S12556 [9NO]

Foreign trade: prohibit funding for negotiations that weaken any law that provides safeguards from unfair trade practices, S9949, S9965-S9968 [13SE], S10062-S10065 [15SE]

Immigration: promote economic competition through policy reforms, S12934-S12936 [16NO]

IRS: assure existing Federal employment preferences for disabled veterans as part of the contracting criteria for outsourcing collection of unpaid and past due income taxes, S11642, S11643 [20OC]

Petroleum: investigate role of oil corporation officials in development of energy policy legislation, S12880 [16NO]

Taxation: allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies (S. 1740), S10299 [21SE]

———allow look-through treatment of payments between related foreign corporations (S. 750), S3424 [11AP]

———allow new investment in, or mergers of biomedical research corporations without limiting tax benefits of net operating losses (S. 1893), S11567 [19OC]

———expand incentives for construction and renovation of public schools (S. 1538), S9299 [28JY]

———modify the active business definition relative to corporate reorganization or division (S. 1327), S7616 [29JN]

———prevent corporate expatriation to avoid Federal taxation, S12725 [14NO]

———prevent corporations from avoiding the U.S. income tax by reincorporating in a foreign country, S1106 [8FE], S2922 [17MR], S13489 [13DE]

———prevent dividends received from corporations in tax havens from receiving a reduced rate (S. 1363), S7858 [30JN]

———provide relief from the alternative minimum tax, S13137 [17NO], S14208 [21DE]

———reduce recognition period for built-in gains for S corporations (S. 965), S4580 [28AP]

———repeal alternative minimum tax (S. 1103), S5787 [23MY], S13095 [17NO]

———repeal foreign sales corporation/extraterritorial income (FSC/ETI) tax program and replace with corporate rate deduction for domestic manufacturers, S13984-S13986 [19DE]

———repeal tax deferral on income of controlled foreign corporations attributable to imported property, S964 [3FE]

———repeal tax deferral on income of controlled foreign corporations attributable to imported property (S. 196), S605 [26JA]

———repeal tax deferral on income of controlled foreign corporations attributable to imported property (S. 872), S4137 [21AP], S4157 [22AP]

———restrict use of abusive tax shelters and offshore tax havens to inappropriately avoid Federal taxation, S13138 [17NO]

———restrict use of abusive tax shelters and offshore tax havens to inappropriately avoid Federal taxation (S. 1565), S9482-S9492 [29JY]

———treat controlled foreign corporations established in tax havens as domestic corporations (S. 779), S3565 [13AP]

———valuation of employee personal use of noncommercial aircraft for purposes of Federal income tax inclusion, S13134 [17NO]

Terrorism: stop from financing, S8618, S8619 [21JY], S8903-S8905 [26JY]

U.S.-China Economic and Security Review Commission: implement recommendations, S8610 [21JY], S8784 [25JY]

Reports filed

Antitrust Criminal Investigative Improvements Act: Committee on the Judiciary (Senate) (S. 443), S11664 [20OC]

Dept. of Commerce Permanent Authority To Conduct Quarterly Financial Report Program: Committee on Government Reform (House) (H.R. 2385) (H. Rept. 109-164), H5739 [12JY]

Summaries

America's Better Classroom Act (H.R. 1742), E717 [21AP]

Tax Shelter and Tax Haven Reform Act (S. 1565), S9486 [29JY]

Tables

Estimated State bond allocation under H.R. 1742, America's Better Classroom Act, E718 [21AP]

Texts of

H.R. 2385, Dept. of Commerce permanent authority to conduct quarterly financial report program, H5755 [13JY]

S. 395, Buy American Improvement Act, S1528 [16FE]

S. 443, Antitrust Criminal Investigative Improvements Act, S11850 [25OC]

S. 965, reduce recognition period for built-in gains for S corporations, S4581 [28AP]

S. 1565, Tax Shelter and Tax Haven Reform Act, S9486-S9491 [29JY]

S. 1740, Generate Retirement Ownership Through Long-Term Holding Act, S10299 [21SE]

S. 1893, Biotechnology Future Investment Expansion Act, S11567 [19OC]