Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act
This bill repeals the 15% alternative minimum tax on corporations enacted by the Inflation Reduction Act of 2022.
To repeal the corporate alternative minimum tax.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Repealing the Ill-Conceived and 
Problematic (RIP) Book Minimum Tax Act''.

SEC. 2. REPEAL OF CORPORATE ALTERNATIVE MINIMUM TAX.

    (a) In General.--Sections 10101 and 13904(a) of Public Law 117-169 
are repealed.
    (b) Applicability.--The Internal Revenue Code of 1986 shall be 
applied and administered as if such sections (and the amendments made 
by such sections) had not been enacted.
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Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act
A bill to repeal the corporate alternative minimum tax.
Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act
Sen. Barrasso, John