Business Taxes

Description

This bill would have eliminated a tax deduction for business expenses if the relocated a business outside the U.S. while offering a tax credit for 20 percent of business expenses incurred for relocating a business to the U.S. if they increased the number of fulltime employees in the U.S. ACU opposes these punitive tax measures while doing nothing to reduce the highest corporate tax in the world and opposed this bill as well as the motion to invoke cloture (limit debate). The Senate defeated the motion to invoke cloture on July 30, 2014 by a vote of 54-42 (60 votes were necessary to pass).