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Draft Bill Submitted in U.S. Congress to Temporarily Reduce BEAT Tax Rate to 0%

18 December 2020

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Proposed Changes

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United States

U.S. Congressman Andy Kim (D-NJ) has announced the introduction of a bipartisan bill, the Save Jobs During the Pandemic Act, together with Congressman Peter King (R-NY) and Congressman and Thomas Suozzi (D-NY). The draft bill would provide for a reduction in the base erosion and anti-abuse tax (BEAT) rate from 10% to 0% for the 2020 tax year beginning after 31 December 2019. --- Reps. Kim, King and Suozzi Introduce Bipartisan Bill to Save Jobs During COVID-19 Pandemic WASHINGTON, DC – Today, Congressman Andy Kim (NJ-03), Congressman Peter King (NY-02) and Congressman Thomas Suozzi (NY-03) introduced the Save Jobs During...