H.Res. 359 — Introduced in House

IV 113th CONGRESS 1st Session H. RES. 359 IN THE HOUSE OF REPRESENTATIVES September 25, 2013Mr. Schneider (for himself, Mr. Carney, Mr. Mulvaney, and Mr. Scalise) submitted the following resolution; which was referred to the Committee on Ways and Means RESOLUTION Expressing the sense of the House of Representatives that tax reform should jointly address corporate and pass-through entities in a fiscally responsible manner, and that reform should reduce the current tax rate differences between corporate and pass-through entities while maintaining adequate forms of organization for businesses. Whereas pass-through entities such as S corporations, partnerships, limited liability companies, and sole proprietorships account for more than 90 percent of all business entities; Whereas the Internal Revenue Service reports 4.5 million S corporations, 3.5 million partnerships and limited liability companies, 23 million sole proprietorships, and less than 2 million C corporations; Whereas pass-through entities employ 54 percent of the private sector workforce; Whereas pass-through entities are taxed at individual income tax rates; and Whereas the top pass-through tax rate is now 39.6 percent for taxable income above $400,000 and the top corporate income tax rate is 35 percent: Now, therefore, be it That it is the sense of the House of Representatives that tax reform should jointly address corporate and pass-through entities in a fiscally responsible manner, and that reform should reduce the current tax rate differences between corporate and pass-through entities while maintaining adequate forms of organization for businesses.