U.S. Congress - H.R.3319 Patriot Corporations of America Act of 2007
H.R.3319 - Patriot Corporations of America Act of 2007
To provide Federal contracting preferences for, and a reduction in the rate of income tax imposed on, Patriot corporations, and for other purposes. view all titles (2)
All Bill Titles
- Official: To provide Federal contracting preferences for, and a reduction in the rate of income tax imposed on, Patriot corporations, and for other purposes. as introduced.
- Short: Patriot Corporations of America Act of 2007 as introduced.
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Official Summary
8/2/2007--Introduced.Patriot Corporations of America Act of 2007 - Grants after 2007 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 anOfficial Summary
8/2/2007--Introduced.Patriot Corporations of America Act of 2007 - Grants after 2007 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 employees' health insurance costs;
(6) maintains a policy of neutrality in employee organizing drives;
(7) provides full differential salary and insurance benefits for all National Guard and Reserve employees who are called to active duty; and
(8) 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 corporations;
(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, the income tax rate for individual taxpayers with adjusted gross incomes of $500,000 or more ($1 million or more for joint returns).
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Recent Blog Coverage
Obabma's Blue Eagle Act (Patriot Employer Act of 2007)
In theory that's true,( just like in theory communism works Marge, in theory) but there is a companion bill in the house, The Patriot Corporation Act (HR 3319). This bill defines Patriot Corporation in essentially the same fashion as ...
Patriot Corporations Act
There is currently a version in both houses, and the House version ( HR 3319, The Patriot Corporations Act) has these interesting. REQUIREMENTS- A corporation meets the requirements of this subparagraph, with respect to any taxable year ...
The Patriot Corporations Act
There is currently a version in both houses, and the House version ( HR 3319, The Patriot Corporations Act) has these interesting. REQUIREMENTS- A corporation meets the requirements of this subparagraph, with respect to any taxable year ...
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