The Corporate Income Tax - Rate Reduction (Economic Competitiveness Act of 2024) proposes to reduce the corporate income tax rate. This bill aims to enhance economic competitiveness by lowering the tax burden on corporations. The main provision is a reduction in the corporate income tax rate, which can have significant impacts on businesses, investment, and overall economic growth. This change could potentially attract more businesses, stimulate job creation, and boost the country's competitiveness in the global market.
2024-02-09: First Reading Ways and Means
2024-02-09: Hearing 2/29 at 1:00 p.m.
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