Bill > HR3018

Introduced Session

Corporate Assets Should be used to Hire Act - Amends the Internal Revenue Code to impose on domestic corporations in taxable years beginning in 2011 or 2012 an additional 40% tax on the excess of their retained earnings over their average retained earnings for the preceding 3 taxable years. Exempts certain corporations from such tax, including corporations with retained earnings of less than $5 million in a taxable year.

Committee Categories

Michael Capuano (D),  Dennis Kucinich (D), 

Referred to the House Committee on Ways and Means. (on 09/22/2011)

Official Document