H.R. 8201, titled the "Small Business Tax Relief Act," aims to amend the Internal Revenue Code of 1986 by lowering the corporate tax rate for small businesses with taxable income up to $5 million. The bill also seeks to address the carried interest loophole by treating...
Simple Explanation
This bill wants to help small companies pay less in taxes and make sure rich money managers pay taxes just like everyone else, while also making it a bit more costly for big companies to buy back their own stock.