Home > 106th Congressional Bills > H.R. 4826 (ih) To amend title 18, United States Code, with respect to lobbying with appropriated funds. [Introduced in House] ...

H.R. 4826 (ih) To amend title 18, United States Code, with respect to lobbying with appropriated funds. [Introduced in House] ...


Google
 
Web GovRecords.org








108th CONGRESS
  2d Session
                                H. R. 4825

To amend the Internal Revenue Code of 1986 to impose an additional tax 
on taxable income attributable to contracts with the United States for 
                goods and services for the war in Iraq.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 13, 2004

  Mr. Owens introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to impose an additional tax 
on taxable income attributable to contracts with the United States for 
                goods and services for the war in Iraq.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Excess War Profits Act of 2004''.

SEC. 2. FINDINGS.

    The Congress hereby finds:
            (1) A special tax on the profits of the Nation's largest 
        corporations would be in accordance with previous precedents: 
        World War II and Korea.
            (2) While large corporations continue to net billions of 
        dollars from the War in Iraq, the Bush Administration continues 
        to cut funding for vital domestic programs.
            (3) Large corporations are using broadly worded contracts 
        to repair Iraq's petroleum infrastructure and gain a huge head 
        start over potential competitors in redeveloping the country's 
        vast, outdated oil industry.
            (4) Five large corporations, Halliburton, Bechtel Group, 
        Fluor Corp, Parsons Corp, and the Louis Berger Group, all 
        benefited from the biggest reconstruction project since the 
        Second World War.
            (5) Since the War in Iraq began, Halliburton and its 
        subsidiaries have received more than $2 billion from no bid 
        contracts.
            (6) To date, Halliburton has spent only 10 percent of the 
        funds appropriated by the Federal Government to rebuild the 
        Iraqi infrastructure.

SEC. 3. ADDITIONAL TAX ON PROFITS FROM IRAQ WAR CONTRACTS.

    (a) General Rule.--Subchapter A of chapter 1 of the Internal 
Revenue Code of 1986 (relating to determination of tax liability) is 
amended by adding at the end the following new part:

     ``PART VII--ADDITIONAL TAX ON PROFITS FROM IRAQ WAR CONTRACTS

                              ``Sec. 59B. Imposition of additional tax.

``SEC. 59B. IMPOSITION OF ADDITIONAL TAX.

    ``(a) General Rule.--There is hereby imposed (in addition to any 
other tax imposed by this chapter) a tax equal to 15 percent of so much 
of taxable income as is attributable to any contract with the United 
States which is specifically for the provision of goods or services in 
connection with the war in Iraq.
    ``(b) Exception for United States Personnel.--The tax imposed by 
this section shall not apply to amounts received by any member of the 
Armed Forces of the United States or any other employee of the United 
States for services as such a member or employee.
    ``(c) Additional Tax Not Treated As Tax for Certain Purposes.--The 
tax imposed by this section shall not be treated as a tax imposed by 
this chapter for purposes of determining--
            ``(1) the amount of any credit allowable under this 
        chapter, or
            ``(2) the amount of the minimum tax imposed by section 
        55.''.
    (b) Clerical Amendment.--The table of parts for subchapter A of 
chapter 1 of such Code is amended by adding at the end thereof the 
following new item:

                              ``Part VII. Additional tax on profits 
                                        from Iraq war contracts.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years ending after the date of the enactment of this 
Act.
                                 <all>

Pages: 1

Other Popular 106th Congressional Bills Documents:

1 H.R. 5595 (ih) To provide for programs regarding the health of Hispanic individuals, and for other purposes. [Introduced in House] ...
2 H.R. 1651 (rh) To amend the Fishermen's Protective Act of 1967 to extend the period during which reimbursement may be provided to owners of United States fishing vessels for costs incurred when such a vessel is seized and detained by a foreign country. [R...
3 S. 2917 (is) To settle the land claims of the Pueblo of Santo Domingo. [Introduced in Senate] ...
4 H.R. 5562 (eh) To amend title 28, United States Code, to allow a judge to whom a case is transferred to retain jurisdiction over certain multidistrict litigation cases for trial. [Engrossed in House] ...
5 H.R. 4365 (eas) [Engrossed Amendment Senate] ...
6 H.R. 2843 (ih) To provide emergency assistance to farmers and ranchers in the United States. [Introduced in House] ...
7 H.Con.Res. 439 (eh) [Engrossed in House] ...
8 H.J.Res. 65 (ih) Commending the World War II veterans who fought in the Battle of the Bulge, and for other purposes. [Introduced in House] ...
9 H.R. 5332 (ih) To amend the motor vehicle safety chapter of title 49, United States Code to make it illegal for any person to sell a tire which is the subject of a recall. [Introduced in House] ...
10 S. 376 (enr) To amend the Communications Satellite Act of 1962 to promote competition and privatization in satellite communications, and for other purposes. [Enrolled bill] ...
11 H.R. 2661 (ih) To amend title 36 of the United States Code to establish the American Indian Education Foundation, and for other purposes. [Introduced in House] ...
12 S. 1535 (is) To amend title XVIII of the Social Security Act to provide for coverage of outpatient prescription drugs under part B of the Medicare Program, and for other purposes. [Introduced in Senate] ...
13 H.R. 3419 (enr) To amend title 49, United States Code, to establish the Federal Motor Carrier Safety Administration, and for other purposes. [Enrolled bill] ...
14 H.R. 3990 (ih) To extend the temporary suspension of duty on Rimsulfuron. [Introduced in House] ...
15 S. 2059 (is) To modify land conveyance authority relating to the former Naval Training Center, Bainbridge, Cecil County, Maryland, and for other purposes. [Introduced in Senate] ...
16 S. 2813 (is) To provide for a land exchange to fulfill the Federal obligation to the [Introduced in Senate] ...
17 H.R. 521 (ih) Concerning denial of passports to noncustodial parents subject to State arrest warrants in cases of nonpayment of child support. [Introduced in House] ...
18 H.R. 3327 (ih) To provide for the return of fair and reasonable fees to the Federal Government for the use and occupancy of National Forest System land under the recreation residence program, and for other purposes. [Introduced in House] ...
19 H.Res. 317 (rh) Waiving points of order against the conference report to accompany the bill (H.R. 1906) making appropriations for Agriculture, Rural Development, Food and Drug Administration, and Related Agencies for the fiscal year ending September 30, 2...
20 H.R. 5592 (ih) To amend the Child Nutrition Act of 1966 to provide vouchers for the purchase of educational books for infants and children participating in the special supplemental nutrition program for women, infants, and children under that Act. [Introd...
21 S.Con.Res. 118 (es) [Engrossed in Senate] ...
22 H.R. 1679 (ih) To amend title 49, United States Code, to provide assistance and slots [Introduced in House] ...
23 H.R. 2932 (ih) To authorize the Golden Spike/Crossroads of the West National Heritage Area. [Introduced in House] ...
24 H.R. 1753 (eh) To promote the research, identification, assessment, exploration, and development of gas hydrate resources, and for other purposes. [Engrossed in House] ...
25 H.R. 329 (ih) To provide that children's sleepwear shall be manufactured in accordance with stricter flammability standards. [Introduced in House] ...
26 S. 2099 (is) To amend the Internal Revenue Code of 1986 to require the registration of handguns, and for other purposes. [Introduced in Senate] ...
27 S. 1006 (is) To end the use of conventional steel-jawed leghold traps on animals in the United States. [Introduced in Senate] ...
28 S. 1844 (rfh) To amend part D of title IV of the Social Security Act to provide for an alternative penalty procedure with respect to compliance with requirements for a State disbursement unit. [Referred in House] ...
29 H.Res. 295 (rh) Providing for consideration of the bill (H.R. 1875) to amend title 28, United States Code, to allow the application of the principles of Federal diversity jurisdiction to interstate class actions. [Reported in House] ...
30 H.R. 2126 (ih) To improve academic and social outcomes for students and reduce both juvenile crime and the risk that youth will become victims of crime by providing productive activities during after school hours. [Introduced in House] ...


Other Documents:

106th Congressional Bills Records and Documents

GovRecords.org presents information on various agencies of the United States Government. Even though all information is believed to be credible and accurate, no guarantees are made on the complete accuracy of our government records archive. Care should be taken to verify the information presented by responsible parties. Please see our reference page for congressional, presidential, and judicial branch contact information. GovRecords.org values visitor privacy. Please see the privacy page for more information.
House Rules:

104th House Rules
105th House Rules
106th House Rules

Congressional Bills:

104th Congressional Bills
105th Congressional Bills
106th Congressional Bills
107th Congressional Bills
108th Congressional Bills

Supreme Court Decisions

Supreme Court Decisions

Additional

1995 Privacy Act Documents
1997 Privacy Act Documents
1994 Unified Agenda
2004 Unified Agenda

Congressional Documents:

104th Congressional Documents
105th Congressional Documents
106th Congressional Documents
107th Congressional Documents
108th Congressional Documents

Congressional Directory:

105th Congressional Directory
106th Congressional Directory
107th Congressional Directory
108th Congressional Directory

Public Laws:

104th Congressional Public Laws
105th Congressional Public Laws
106th Congressional Public Laws
107th Congressional Public Laws
108th Congressional Public Laws

Presidential Records

1994 Presidential Documents
1995 Presidential Documents
1996 Presidential Documents
1997 Presidential Documents
1998 Presidential Documents
1999 Presidential Documents
2000 Presidential Documents
2001 Presidential Documents
2002 Presidential Documents
2003 Presidential Documents
2004 Presidential Documents

Home Executive Judicial Legislative Additional Reference About Privacy