HILL TAX BRIEFING: Barrasso Introduces Book Tax Repeal Bill

Sen. John Barrasso (R-Wyo.) introduced a bill Thursday to repeal the corporate alternative minimum tax established as part of last month’s reconciliation law.

“The book minimum tax is another reckless power grab by the Democrats to squeeze hardworking Americans dry,” Barrasso said in a statement. “Policies like this only raise taxes on workers and consumers, resulting in wage cuts and jobs moving overseas. We need to repeal this unfair tax to ensure companies are investing in America, creating more American jobs, and unleashing American energy.”

The tax is a 15% levy on the book ...