I 
115TH CONGRESS 
1ST SESSION 
H. R. 533 
To amend the Internal Revenue Code of 1986 to lower the corporate rate 
of income tax to the OECD average, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 13, 2017 
Mr. EMMER (for himself and Mrs. LOVE) 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 lower the 
corporate rate of income tax to the OECD average, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Corporate Rate Equal-
ity and Trade Empowerment Jobs Act of 2017’’ or the 
‘‘Create Jobs Act’’. 
SEC. 2. OECD RATE OF CORPORATE INCOME TAX. 
(a) IN GENERAL.—Section 11(b) of the Internal Rev-
enue Code of 1986 is amended to read as follows: 
‘‘(b) AMOUNT OF TAX.— 
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‘‘(1) IN GENERAL.—The amount of the tax im-
posed by subsection (a) shall be an amount equal to 
the applicable percentage of the taxable income. 
‘‘(2) APPLICABLE PERCENTAGE.—For purposes 
of this section— 
‘‘(A) IN GENERAL.—Subject to section 3 of 
the Corporate Rate Equality and Trade Em-
powerment Jobs Act of 2017, the applicable 
percentage for taxable years beginning in any 
calendar year shall be the greater of— 
‘‘(i) 10 percent, or 
‘‘(ii) the percentage determined by the 
Secretary under subparagraph (B) for the 
taxable year. 
‘‘(B) DETERMINATION
BY
SECRETARY.— 
Not later than November 1, 2017, and every 5 
years thereafter, the Secretary shall determine 
the percentage that is 5 percentage points less 
than the mean of the central government cor-
porate income tax rates most recently published 
as of November 1 of the preceding calendar 
year by the Organisation for Economic Co-oper-
ation and Development (hereinafter referred to 
as ‘OECD’) for OECD countries other than the 
United States. The percentage determined 
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under the preceding sentence shall apply to tax-
able years beginning in the subsequent calendar 
year and each of the 4 calendar years there-
after.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Paragraphs (2)(B) and (6)(A)(ii) of section 
860E(e) of such Code are each amended by striking 
‘‘the highest rate of tax specified in section 
11(b)(1)’’ and inserting ‘‘the rate of tax in effect for 
the taxable year under section 11(b)’’. 
(2)(A) Section 1445(e)(1) of such Code is 
amended— 
(i) by striking ‘‘35 percent’’ and in-
serting ‘‘the rate of tax in effect for the 
taxable year under section 11(b)’’, and 
(ii) by striking ‘‘of the gain’’ and in-
serting ‘‘multiplied by the gain’’. 
(B) Section 1445(e)(2) of such Code is 
amended by striking ‘‘35 percent of the 
amount’’ and inserting ‘‘the rate of tax in effect 
for the taxable year under section 11(b) multi-
plied by the amount’’. 
(C) Section 1445(e)(6) of such Code is 
amended— 
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(i) by striking ‘‘35 percent’’ and in-
serting ‘‘the rate of tax in effect for the 
taxable year under section 11(b)’’, and 
(ii) by striking ‘‘of the amount’’ and 
inserting ‘‘multiplied by the amount’’. 
(D) Section 1446(b)(2)(B) of such Code is 
amended by striking ‘‘the highest rate of tax 
specified in section 11(b)(1)’’ and inserting 
‘‘the rate of tax in effect for the taxable year 
under section 11(b)’’. 
(3) Section 852(b)(1) of such Code is amended 
by striking the last sentence. 
(4) Section 7874(e)(1)(B) of such Code is 
amended by striking ‘‘the highest rate of tax speci-
fied in section 11(b)(1)’’ and inserting ‘‘the rate of 
tax in effect for the taxable year under section 
11(b)’’. 
(c) EFFECTIVE DATE.— 
(1) IN
GENERAL.—Except as otherwise pro-
vided in this subsection, the amendments made by 
this section shall apply to taxable years beginning 
after December 31, 2017. 
(2) WITHHOLDING.—The amendments made by 
subsection (b)(2) shall apply to distributions made 
after December 31, 2017. 
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SEC. 3. PROCEDURE IN CASE SECRETARY DETERMINES IN-
CREASE IN CORPORATE INCOME TAX. 
(a) IN GENERAL.—In the case of any taxable years 
beginning during a calendar year (‘‘current taxable 
years’’) for which the rate of tax determined by the Sec-
retary of the Treasury under section 11(b)(2) of the Inter-
nal Revenue Code of 1986 is higher than the rate of tax 
for taxable years beginning during the preceding calendar 
year (‘‘preceding taxable years’’)— 
(1) if not later than 60 days after the date of 
any such determination Congress enacts into law a 
joint resolution approving such higher rate of tax, 
then the rate of tax for the current taxable years 
shall be the rate of tax so determined by the Sec-
retary, or 
(2) if after the expiration of such 60-day period 
no such joint resolution has been enacted, then the 
rate of tax for the current taxable years shall be the 
rate of tax that was in effect for such preceding tax-
able years. 
(b) CONTENT OF JOINT RESOLUTION.—The joint 
resolution considered under this section shall meet the fol-
lowing requirements: 
(1) Such resolution shall not have a preamble. 
(2) The title of such resolution shall be as fol-
lows: ‘‘Joint resolution relating to the approval of an 
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increased rate of corporate income tax determined 
under section 11(b)(2) of the Internal Revenue Code 
of 1986, as submitted under section 3 of the Cor-
porate Rate Equality and Trade Empowerment Jobs 
Act of 2017.’’. 
(3) The only matter after the resolving clause 
shall be as follows: ‘‘That Congress approves of the 
increased rate of corporate income tax determined 
under section 11(b)(2) of the Internal Revenue Code 
of 1986 for taxable years beginning during the next 
5 calendar years.’’. 
Æ 
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