Expressing the sense of the House of Representatives that tax reform should jointly address corporate and pass-through entities in a fiscally responsible manner, and that reform should reduce the current tax rate differences between corporate and pass-through entities while maintaining adequate forms of organization for businesses.

Bill: 113-hres-359
Sponsor: full_name: Rep. Schneider, Bradley Scott [D-IL-10]
Introduced: 2013-09-25
Policy area: Taxation
Subjects: Corporate finance and management

Income tax rates

Tax reform and tax simplification
Latest action: action_date: 2013-09-25
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-09-25
action_desc: Introduced in House
text: <p>Expresses the sense of the House of Representatives that tax reform should: (1) jointly address corporate and pass-through entities in a fiscally responsible manner, and (2) reduce the current tax rate differences between corporate and pass-through entities while maintaining adequate forms of organization for businesses.</p>

tv_txt: IV 113th CONGRESS 1st Session H. RES. 359 IN THE HOUSE OF REPRESENTATIVES September 25, 2013 Mr. Schneider (for himself, Mr. Carney , Mr. Mulvaney , and Mr. Scalise ) submitted the following resolution; which was referred to the Committee on Ways and Means RESOLUTION Expressing the sense of the House of Representatives that tax reform should jointly address corporate and pass-through entities in a fiscally responsible manner, and that reform should reduce the current tax rate differences between corporate and pass-through entities while maintaining adequate forms of organization for businesses.

Whereas pass-through entities such as S corporations, partnerships, limited liability companies, and sole proprietorships account for more than 90 percent of all business entities; Whereas the Internal Revenue Service reports 4.5 million S corporations, 3.5 million partnerships and limited liability companies, 23 million sole proprietorships, and less than 2 million C corporations; Whereas pass-through entities employ 54 percent of the private sector workforce; Whereas pass-through entities are taxed at individual income tax rates; and Whereas the top pass-through tax rate is now 39.6 percent for taxable income above $400,000 and the top corporate income tax rate is 35 percent: Now, therefore, be it

That it is the sense of the House of Representatives that tax reform should jointly address corporate and pass-through entities in a fiscally responsible manner, and that reform should reduce the current tax rate differences between corporate and pass-through entities while maintaining adequate forms of organization for businesses.