A bill to amend the Internal Revenue Code of 1986 to establish a surtax on income which is attributable to substantial favorable Federal government action and received by companies owned or controlled by covered public officials or their family members.
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Summary
Based on the bill's title, this legislation would amend the Internal Revenue Code to impose a surtax on income derived from substantial favorable federal government action received by companies owned or controlled by covered public officials or their family members. The bill appears designed to address potential conflicts of interest by taxing profits that may result from preferential federal treatment. The bill has been referred to the Senate Committee on Finance and no further action has been taken.
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How your representatives voted
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