|Short Title||Brayer-Braugh Act|
|Long Title||A Law to eliminate the corporate tax and implement a corporate savings tax while reforming general banking regulations.|
|Enacted||March 31, 2015|
|Effective||August 1, 2015|
|UTC Parts(s) Amended||14 UTC, 17 UTC|
The Brayer-Brugh Act was a major piece of legislation passed in 2015-I that completely overhauled the tax structure in the Triumvirate and repealed the corporate income tax to supplement it with a corporate savings tax. This was done so as to create incentives for businesses to spend and grow rather than hold onto money.
The bill, though popularly accepted, was met by criticism by some legal scholars such as Major Executive Stenbach and Head of the Archive Crown (a former justice on the Supreme Court) as they were concerned about the constitutionality of some elements, particularly the clause that taxes business holdings rather than income.