Reply #26: This bill does not seem to have been introduced in the Senate [View All]

[karynnj]

I have no idea from what I can find in the Congressional record as to who is introducing it in the Senate but it does seem that it is pushing companies to produce mainly in the USA, set up pensions, give health care, kept guard and reserve people financially whole, followed a whole set of rules. Sounds good to me - I would like it even if it were HRC's bill. I hope Obama did sponsor it.

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Here is the House info - note there are no related bills.


H.R.3319
Title: To provide Federal contracting preferences for, and a reduction in the rate of income tax imposed on, Patriot corporations, and for other purposes.
Sponsor: Rep Schakowsky, Janice D. (introduced 8/2/2007) Cosponsors (14)
Latest Major Action: 8/2/2007 Referred to House committee. Status: Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jump to: Summary, Major Actions, All Actions, Titles, Cosponsors, Committees, Related Bill Details, Amendments
SUMMARY AS OF:
8/2/2007--Introduced.

Patriot Corporations of America Act of 2007 - Grants after 2007 a preference to Patriot corporations in the evaluation of bids or proposals for federal contracts. Defines " Patriot corporation" as a corporation which: (1) produces at least 90% of its goods and services in the United States; (2) does not pay its its management-level employees at a rate more than 10,000% of the compensation of its lowest paid employee; (3) conducts at least 50% of its research and development in the United States; (4) contributes at least 5% of its payroll to a portable pension fund for its employees; (5) pays at least 70% of its employees' health insurance costs; (6) maintains a policy of neutrality in employee organizing drives; (7) provides full differential salary and insurance benefits for all National Guard and Reserve employees who are called to active duty; and (8) has not violated federal regulations, including regulations relating to the environment, workplace safety, labor relations, and consumer protections.

Amends the Internal Revenue Code to: (1) reduce the income tax rate for Patriot corporations; (2) reclassify foreign corporations created or organized to avoid federal taxation as domestic corporations for income tax purposes; and (3) increase, for the period between January 1, 2007, and December 31, 2010, the income tax rate for individual taxpayers with adjusted gross incomes of $500,000 or more ($1 million or more for joint returns).
MAJOR ACTIONS:

***NONE***

ALL ACTIONS:

8/2/2007:
Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
8/2/2007:
Referred to House Ways and Means
8/2/2007:
Referred to House Oversight and Government Reform

TITLE(S): (italics indicate a title for a portion of a bill)

***NONE***

COSPONSORS(14), ALPHABETICAL : (Sort: by date)


Rep Boyda, Nancy E. - 8/2/2007
Rep Davis, Danny K. - 8/2/2007
Rep Ellison, Keith - 8/2/2007
Rep Hall, John J. - 8/3/2007
Rep Hare, Phil - 8/2/2007
Rep Jackson, Jesse L., Jr. - 8/2/2007
Rep Kagen, Steve - 8/2/2007
Rep Kildee, Dale E. - 8/2/2007
Rep McNerney, Jerry - 8/2/2007
Rep Michaud, Michael H. - 8/2/2007
Rep Ryan, Tim - 8/2/2007
Rep Solis, Hilda L. - 8/2/2007
Rep Sutton, Betty - 8/2/2007
Rep Woolsey, Lynn C. - 8/2/2007

COMMITTEE(S):

Committee/Subcommittee: Activity:
House Ways and Means Referral, In Committee
House Oversight and Government Reform Referral, In Committee

RELATED BILL DETAILS:

***NONE***

AMENDMENT(S):

***NONE***
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As to the companies that it gives preferencial treatment to - it seems they are those who opt to do specified voluntary things that are good for the country.

From Thomas:

2) PATRIOT CORPORATION DEFINED- For purposes of this subsection--

`(A) IN GENERAL- The term `Patriot corporation' means, with respect to any taxable year, any corporation which is certified by the Secretary as meeting the requirements of subparagraph (B) for such taxable and the preceding taxable year.

`(B) REQUIREMENTS- A corporation meets the requirements of this subparagraph, with respect to any taxable year, if such corporation--

`(i) produces in the United States at least 90 percent of the goods and services sold by such corporation during such taxable year,

`(ii) does not provide compensation to any management personnel of such corporation at a level of compensation which exceeds 10,000 percent of the level of compensation of the full-time employee of such corporation with the lowest level of compensation during such taxable year,

`(iii) conducts at least 50 percent of the research and development conducted by such corporation during such taxable year (determined on the basis of cost) in the United States,

`(iv) has contributed at least 5 percent of wages paid by the corporation during the taxable year to a portable pension fund for the benefit of employees of the corporation,

`(v) has paid at least 70 percent of the cost of a standardized health insurance plan for the benefit of employees of the corporation during such taxable year,

`(vi) has maintained at all times during such taxable year neutrality in employee organizing drives and has in effect a policy to that effect,

`(vii) provides full differential salary and insurance benefits for all National Guard and Reserve employees who are called to active duty,

`(viii) has not been (at any time during such taxable year) in violation of appropriate Federal regulations including those related to the environment, workplace safety, labor relations, and consumer protections, as determined by the Secretary, and

`(ix) has not been in violation of any other regulations specified by the Secretary.
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