A bill to amend the Internal Revenue Code of 1986 to impose an income tax on excess profits of certain corporations.
Ending Corporate Greed Act
This bill imposes a tax through 2026 on certain corporations (corporations other than regulated investment companies, real estate investment trusts, or S corporations) that have average annual gross receipts for a three-year period of at least $500 million. The tax is 95% of what are deemed excess profits for a taxable year.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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