# 119-s-796: Book Minimum Tax Repeal Act

119-s-796, Book Minimum Tax Repeal Act, is a 119th Congress bill sponsored by Sen. Barrasso, John [R-WY] (R-WY); status introduced; PRIA reads it as touching household money (as of 2026-05-22).

- Canonical: https://policyrisk.com/legislation/119-s-796
- As of: 2026-05-22
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-796
- Congress: 119
- Title: Book Minimum Tax Repeal Act
- Status: introduced
- Introduced: 2025-02-27
- Sponsor: Sen. Barrasso, John [R-WY] (R-WY)
- Cosponsors: 8
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-05-22

## Summary

**Repeals the corporate alternative minimum tax.** It replaces corporate AMT rules with a new tentative minimum tax framework that applies to non-corporate taxpayers and cleans up AMT cross-references across the code. - Corporations: Corporations no longer face a separate corporate AMT. For calculating the general business credit the bill treats a corporation’s tentative minimum tax as zero. - Non-corporate taxpayers: The new tentative minimum tax (TMT) taxes "taxable excess" at 26% up to $175,000 and 28% on amounts above $175,000. Taxable excess is defined as alternative minimum taxable income minus an exemption, and married filers filing separately use 50% of the dollar thresholds. - Code and timing: Section 55 is reworked to set the TMT for non-corporate taxpayers, many AMT-specific provisions and cross-references are removed or conformed, and the changes apply to taxable years beginning after December 31, 2024.

## Cosponsors (8)

- Sen. Crapo, Mike [R-ID] (R-ID), 2025-02-27T00:00:00.000Z
- Sen. Lankford, James [R-OK] (R-OK), 2025-02-27T00:00:00.000Z
- Sen. Cassidy, Bill [R-LA] (R-LA), 2025-02-27T00:00:00.000Z
- Sen. Daines, Steve [R-MT] (R-MT), 2025-02-27T00:00:00.000Z
- Sen. Blackburn, Marsha [R-TN] (R-TN), 2025-02-27T00:00:00.000Z
- Sen. Ricketts, Pete [R-NE] (R-NE), 2025-02-27T00:00:00.000Z
- Sen. Risch, James E. [R-ID] (R-ID), 2025-02-27T00:00:00.000Z
- Sen. Lummis, Cynthia M. [R-WY] (R-WY), 2025-02-27T00:00:00.000Z

## Provisions PRIA read

- Corporate minimum tax repeal and credits: benefit, high. If enacted, this would repeal the corporate alternative minimum tax for tax years starting after December 31, 2024. Corporations would be treated as having a tentative minimum tax of zero when applying the general business credit. The bill would remove the statutory adjusted financial statement inc…
- New tentative minimum tax for individuals: cost, medium. If enacted, the bill would create a new tentative minimum tax (TMT) for non‑corporate taxpayers for tax years starting after December 31, 2024. The TMT would be 26% of taxable excess up to $175,000 and 28% of taxable excess above $175,000. Taxable excess would equal your AMTI minus the AMT exemptio…

## Related bills

- 119-s-1748: Kids Online Safety Act
- 119-s-3752: SAVE America Act
- 119-s-1241: Sanctioning Russia Act of 2025
- 119-s-401: Fair Access to Banking Act
- 119-s-186: No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of 2025
- 119-s-6: Born-Alive Abortion Survivors Protection Act

## Sources
- [119-s-796 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/796)

## Related
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-3752: SAVE America Act](https://policyrisk.com/legislation/119-s-3752)
- [119-s-1241: Sanctioning Russia Act of 2025](https://policyrisk.com/legislation/119-s-1241)
- [119-s-401: Fair Access to Banking Act](https://policyrisk.com/legislation/119-s-401)
- [119-s-186: No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of…](https://policyrisk.com/legislation/119-s-186)
- [119-s-6: Born-Alive Abortion Survivors Protection Act](https://policyrisk.com/legislation/119-s-6)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-796 (as of 2026-05-22).