Book Minimum Tax Repeal Act This bill repeals the corporate alternative minimum tax (CAMT) and makes related modifications to the general business tax credit. Under current law, a 15% CAMT is imposed on a corporation with adjusted financial statement income (also known as book income) exceeding an average of $1 billion for a consecutive three-year period (or an average of $100 million for a U.S. corporation that is part of a foreign parent multinational group if the adjusted financial statement income of such group exceeds an average of $1 billion for a consecutive three-year period). Adjusted financial statement income generally is the net income or loss reported on the corporation’s applicable financial statement for a tax year, with adjustments for specific items. The bill repeals the CAMT and modifies a related limit on the amount of general business tax credits allowed for a corporation.
Read twice and referred to the Committee on Finance. (text: CR S1431)
Bill introduced
Lobbying filed by CHAMBER OF COMMERCE OF THE U.S.A.
Lobbying filed by AMERICAN CHEMISTRY COUNCIL
Lobbying filed by AMERICAN PETROLEUM INSTITUTE
Lobbying filed by CHAMBER OF COMMERCE OF THE U.S.A.
Read twice and referred to the Committee on Finance. (text: CR S1431)
| Registrant | Client | Amount | Filed | Period | Issues |
|---|---|---|---|---|---|
| CHAMBER OF COMMERCE OF THE U.S.A. | CHAMBER OF COMMERCE OF THE U.S.A. | $19.3M | Jul 21, 2025 | 2025Q2 | AERAUTAVI |
| CHAMBER OF COMMERCE OF THE U.S.A. | CHAMBER OF COMMERCE OF THE U.S.A. | $19.3M | Apr 21, 2025 | 2025Q1 | ENVFINFOR |
| AMERICAN CHEMISTRY COUNCIL |
The lobbying table lists Senate LDA quarterly reports (LD-2) that cite this bill by number and cover a quarter of the 119th Congress. An LD-2 names a bill as “H.R. 1234” with no Congress, so a report on another Congress, which can only concern a different bill with the same number, is left out, even when it was filed after this Congress began. The amount is what the registrant reported for the whole filing, across every issue on it, not spending on this bill. Official actions and the bill summary come from Congress.gov, and votes from the roll-call record. This page no longer pairs the bill with members' stock trades: matching lobbying clients to traded companies by name, and trades to a bill by date, is not something the records establish.
Lobbying filed by AMERICAN PETROLEUM INSTITUTE
| AMERICAN CHEMISTRY COUNCIL |
| $4.2M |
| Apr 21, 2025 |
| 2025Q1 |
CAWCHMTAX |
| AMERICAN PETROLEUM INSTITUTE | AMERICAN PETROLEUM INSTITUTE | $2.1M | Jul 21, 2025 | 2025Q2 | CAWENGFUE |
| AMERICAN PETROLEUM INSTITUTE | AMERICAN PETROLEUM INSTITUTE | $1.9M | Apr 21, 2025 | 2025Q1 | CAWENGFUE |
| AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA | AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION | $1.7M | Jul 21, 2025 | 2025Q2 | TORMMMAUT |
| AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION FKA PROPERTY CASUALTY INSURERS ASSOC. OF AMERICA | AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION | $1.3M | Apr 21, 2025 | 2025Q1 | ALCDISHOU |
| NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES | NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES | $435.7K | Jul 21, 2025 | 2025Q2 | DISFINTEC |
| NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES | NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES | $424.5K | Apr 21, 2025 | 2025Q1 | DISINSAUT |
| ZIEBART CONSULTING, LLC | ENERGY INFRASTRUCTURE COUNCIL FKA MASTER LIMITED PARTNERSHIP ASSOCIATION | $60.0K | Jul 4, 2025 | 2025Q2 | TAX |
| ZIEBART CONSULTING, LLC | ENERGY INFRASTRUCTURE COUNCIL FKA MASTER LIMITED PARTNERSHIP ASSOCIATION | $60.0K | Apr 10, 2025 | 2025Q1 | TAX |