H.R. 7374
HouseTo amend the Internal Revenue Code of 1986 to provide for a corporate minimum tax and for other purposes.
Sponsor: Rep. Adrian Smith (R-NE)
The House of Representatives has passed this bill. It now moves to the Senate.
In brief
This legislation establishes a new 15% minimum corporate tax on certain large profitable corporations while simultaneously repealing the existing alternative minimum tax rules for specific energy investments. It targets domestic corporations with average annual adjusted financial statement income exceeding $1 billion over a three-year period. The bill further provides specific exemptions for certain pass-through entities and adjusts how foreign-source income is treated for tax purposes. It was introduced by Rep. Adrian Smith (R-NE) and passed the House of Representatives by a vote of 220-205 on February 14, 2025.
Votes recorded
Tallies as reported by the House Clerk and the Senate. Individual member votes are available on the linked source page.
- Passed 220-205House · February 14, 2025Roll call
Timeline
Every recorded action, oldest first.
February 14, 2025 · House
Passed the House
The House passed legislation to establish a 15% corporate minimum tax and modify energy-related tax credits.
Passed 220-205
Next: Awaits consideration in the Senate.
Source