Corporate Tax Breaks: Final Passage
|This vote was on a $100 billion economic stimulus package (H.R. 3090) designed by House Republican leaders mainly to benefit corporate interests. Only $16 billion of the $100 billion total would benefit low and moderate-income taxpayers and unemployed workers. The bills major costs were huge corporate tax breaks that included: elimination of the alternative minimum tax for businesses retroactive to 1986, a doubling of the amount companies may write off against income for new equipment bought in the next three years from 15% to 30%, and permanent extension of a provision allowing many of the largest multinational corporations to defer taxes on overseas profits. Passed 216 Yea to 214 Nay.|
Votes from the 107th and 108th Sessions of U.S. Congress.
Issue headings and descriptions courtesy of