House to Vote on Inflation Reduction Act With Spectrum Tax Carve-Out
The House was expected to vote Friday night on the Inflation Reduction Act budget reconciliation package (HR-5376). The bill includes language that under a proposed 15% minimum corporate tax allows companies to deduct from "taxable income” the value of spectrum…
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licenses bought after Dec. 31, 2007, “and before the date” of the measure's enactment. The House voted 219-208 to proceed to debate on HR-5376. The Senate passed it Aug. 7 (see 2208080062).