legislation: 109-hr-5699
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
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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 |
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| 109-hr-5699 | 109 | hr | 5699 | Patriot Corporations of America Act of 2006 | Foreign Trade and International Finance | 2006-06-28 | 2006-06-28 | Referred to the Committee on Ways and Means, and in addition to the Committee on Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House | Rep. Schakowsky, Janice D. [D-IL-9] | IL | D | S001145 | 12 | Patriot Corporations of America Act of 2006 - Grants a preference to Patriot corporations in the evaluation of bids or proposals for federal contracts. Defines " Patriot corporation" as a corporation which: (1) produces at least 90% of its goods and services in the United States; (2) does not pay its its management-level employees at a rate more than 10,000% of the compensation of its lowest paid employee; (3) conducts at least 50% of its research and development in the United States; (4) contributes at least 5% of its payroll to a portable pension fund for its employees; (5) pays at least 70% of its employee health insurance costs; (6) maintains a policy of neutrality in employee organizing drives; and (7) has not violated federal regulations, including regulations relating to the environment, workplace safety, labor relations, and consumer protections.Amends the Internal Revenue Code to: (1) reduce the income tax rate for Patriot corporation; (2) reclassify foreign corporations created or organized to avoid federal taxation as domestic corporations for income tax purposes; and (3) increase, for the period between January 1, 2007, and December 31, 2010, income taxes for individual taxpayers with adjusted gross incomes of $500,000 or more ($1 million or more for joint returns). | 2023-01-13T04:50:46Z |