The “Corporate Tax Dodging Prevention Act” aims to amend the Internal Revenue Code to adjust how taxes apply to foreign corporations and to ensure that foreign and domestic income are taxed equally. The bill proposes a progressive corporate tax rate, modifies rules for tax credits and...
Simple Explanation
The bill wants to make sure big companies from other countries pay taxes just like companies in the United States, by changing how much tax they pay based on their income and stopping certain old rules that let them pay less.