Contact Congress about H.R. 5376: An act to provide for reconciliation pursuant to title II of S. Con. Res. 14.
Very large companies face new taxes, and Medicare can bargain over some high-cost drugs. The law also funds the IRS and many climate, energy, transportation, tribal, and community programs.
Modern Action explains legislation in plain English, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
An act to provide for reconciliation pursuant to title II of S. Con. Res. 14. is a House bill in Congress.
Who this affects: This bill mainly affects very large corporations, drug companies with costly Medicare drugs, Medicare patients, the IRS, federal agencies, states, tribes, local governments, community nonprofits, and the U.S. Postal Service. Large companies may pay more tax. Medicare drug makers may face lower prices on selected products. Communities and tribes may gain new funding for climate, energy, pollution, transportation, and resilience projects.
Why this matters: This law matters because it changes who pays, what Medicare pays for some drugs, and where federal climate money goes. The corporate taxes could raise federal revenue and change company choices about profits, buybacks, and investment. Medicare bargaining could lower spending on some drugs, but it may also affect drug company plans. The climate and community funding could shape buildings, roads, postal trucks, pollution work, and tribal resilience projects for years.
Key provisions in H.R. 5376
- Very large corporations may owe a new 15% minimum tax. It applies to adjusted income from financial statements, usually when a company averages more than $1 billion in that income, for tax years after December 31, 2022.
- The law gives detailed rules for measuring that adjusted income. The rules cover subsidiaries, partnerships, foreign income, depreciation, pensions, and losses carried over from earlier years.
- Publicly traded U.S. companies pay a 1% tax on the fair market value of stock they buy back. Some small buybacks, reorganizations, dividend-like payments, and related deals are treated differently or exempt.
- The IRS gets about $80 billion over several years. The money supports taxpayer service, enforcement, operations, and technology upgrades through fiscal year 2031.
- The IRS must study a free direct e-file system run by the IRS and report to Congress within nine months. The study gets $15 million and must include taxpayer opinions and an independent review.
How Modern Action helps you take action on H.R. 5376
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
Questions people ask about H.R. 5376
- What is H.R. 5376?
- Very large companies face new taxes, and Medicare can bargain over some high-cost drugs. The law also funds the IRS and many climate, energy, transportation, tribal, and community programs.
- How do I support or oppose H.R. 5376?
- Choose support, oppose, or ask for changes on Modern Action. The action flow drafts the message for you and keeps the wording tied to this bill.
- Who should I contact about H.R. 5376?
- Modern Action uses your location to route the action to the congressional offices relevant to the bill and your representation.
- Can Modern Action explain H.R. 5376 before I act?
- Yes. Modern Action gives you a plain-English summary, current status, and action context before you send anything.
