legislation: 109-hr-5378

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
109-hr-5378 109 hr 5378 Corporate Welfare Reduction and Job Preservation Act of 2006 Commerce 2006-05-11 2006-08-31 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. House Rep. McKinney, Cynthia A. [D-GA-4] GA D M000523 0 Corporate Welfare Reduction and Job Preservation Act of 2006 - Amends the Internal Revenue Code to require a 50% reduction in tax benefits for certain large profitable corporations that reduce their employee workforce by 15% or more. Defines "large profitable corporation" as a corporation or partnership that is not defined as a small business concern under the Small Business Act and which has a taxable income that exceeds net operating losses during a specified five-year period.Amends the Foreign Assistance Act of 1961 and the Export-Import Act of 1945 to require large profitable corporations (as defined by this Act) that reduce their employee workforce by 15% or more to immediately repay loans and forfeit insurance benefits and credit lines provided by such Acts. 2023-01-13T04:48:28Z  

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