Political Quotes

“I ask unanimous consent that the reading of the amendment be dispensed with. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment is as follows: (Purpose: To amend the Internal Revenue Code of 1986 to allow companies to utilize existing alternative minimum tax credits to create and maintain American jobs through new domestic investments, and for other purposes) At the end of title VI, add the following: SEC. 602. ELECTION TO TEMPORARILY UTILIZE UNUSED AMT CREDITS DETERMINED BY DOMESTIC INVESTMENT. (a) In General.--Section 53 is amended by adding at the end the following new subsection: ``(g) Election for Corporations With Unused Credits.-- ``(1) In general.--If a corporation elects to have this subsection apply, then notwithstanding any other provision of law, the limitation imposed by subsection (c) for any such taxable year shall be increased by the AMT credit adjustment amount. ``(2) AMT credit adjustment amount.--For purposes of paragraph (1), the term `AMT credit adjustment amount' means with respect to any taxable year beginning in 2010, the lesser of-- ``(A) 50 percent of a corporation's minimum tax credit determined under subsection (b), or ``(B) 10 percent of new domestic investments made during such taxable year.…”