Top Legislation - View All
Also tagged in: Business, Capital gains tax, Computer software, Congress, Corporation taxes, Depreciation and amortization, Economic policy, Education, Elementary and secondary education, Finance, Income tax, Indexing (Economic policy), Legislation, Minimum tax, Research and development tax credit, Science policy, Small business, Sunset legislation, Tax credits, Tax deductions, Tax rates, Tax simplification, Taxation, Teachers, Teaching materials, Technology
Latest Action: 04/17/2007 - Sponsor introductory remarks on measure. (CR S4602-4604) Bill TextA bill to repeal the sunset on certain tax rates and other incentives and to repeal the individual alternative minimum tax, and for other purposes. 4/17/2007--Introduced. Invest in America Act - Repeals the general termination date (i.e., December 31, 2010) of the Economic Growth and Tax Relief Reconciliation Act of 2001 (thus making provisions of that Act that reduce income tax rates and repeal the estate and gift tax permanent).Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 applicable to the reduction in taxes on dividends and capital gains. Amends the Internal Revenue Code to make permanent: (1) the tax credit for increasing research activities; (2) the increased expensing allowance for small business assets; and (3) the tax deduction for certain expenses of elementary and secondary school teachers. Repeals the alternative minimum tax on individuals after 2006.Expresses the sense of the Senate that the Committee [...] show full description
Latest Action: 01/04/2007 - Sponsor introductory remarks on measure. (CR S110) Bill TextA bill to amend the Internal Revenue Code of 1986 to extend and expand relief from the alternative minimum tax and to repeal the extension of the lower rates for capital gains and dividends for 2009 and 2010. 1/4/2007--Introduced. Amends the Internal Revenue Code to: (1) increase the exemption from the alternative minimum tax for individual taxpayers in 2007; and (2) extend through 2007 the allowance of certain nonrefundable tax credits against alternative minimum tax liability. Repeals provisions of the Tax Increase Prevention and Reconciliation Act of 2005 which extended reductions in capital gains and dividend tax rates through 2010.
Also tagged in: Automated teller machines, Bank accounts, Bank deposits, Bank reserves, Banks and banking, Business, Checks, Congressional reporting requirements, Credit cards, Credit unions, Deposit insurance, Electronic commerce, Electronic funds transfers, Fees, Finance, Financial institutions, Financial services, Government information, Government paperwork, Housing, Interest, Internet, Law, Real estate business, Savings and loan associations, Surveys, Technology, Telecommunication, User charges
Latest Action: 01/04/2007 - Referred to the House Committee on Financial Services. Bill TextTo repeal the prohibition on the payment of interest on demand deposits, and for other purposes. 1/4/2007--Introduced. Business Checking Fairness Act of 2007 - Amends federal law to authorize interest-bearing or dividend-bearing transaction accounts for all businesses, permitting up to 24 transfers per month to another account of the owner in the same institution. Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to repeal the prohibition against the payment of interest on demand deposits. Authorizes the payment of interest on reserves by a federal reserve bank at least quarterly on balances maintained there on behalf of a depository institution. Amends the Federal Reserve Act to require the Board to survey biennially and report biennially to Congress on bank fees and certain services. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and the Riegle-Neal Interstate Banking [...] show full description
Latest Action: 01/10/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to allow individuals to defer recognition of reinvested capital gains distributions from regulated investment companies. 1/10/2007--Introduced. Amends the Internal Revenue Code to provide that, in the case of an electing individual, no gain (up to a specified amount) shall be recognized on the receipt of a capital gain dividend distributed by a regulated investment company if such capital gain dividend is automatically reinvested in additional shares of the company pursuant to a dividend reinvestment plan.
Also tagged in: Aged, Annuities, Capital gains tax, Finance, Income, Income tax, Interest, Losses, Old age, survivors and disability insurance, Pension funds, Pensions, Social security, Tax returns, Tax-deferred compensation plans, Taxation, Taxpayers
Latest Action: 01/12/2007 - Referred to the House Committee on Ways and Means. Bill TextTo allow seniors to file their Federal income tax on a new Form 1040S. 1/12/2007--Introduced. Seniors' Tax Simplification Act of 2007 - Directs the Secretary of the Treasury to make available a new Federal income tax Form 1040S (similar to Form 1040EZ) to individuals who have turned 65 as of the close of the taxable year. Allows the form to be used even if income includes: (1) social security benefits; (2) distributions from qualified retirement plans, annuities, or other such deferred payment arrangements; (3) interest and dividends; or (4) capital gains and losses.
Latest Action: 02/06/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to repeal the sunset on the reduction of capital gains rates for individuals and on the taxation of dividends of individuals at capital gains rates. 2/6/2007--Introduced. Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 for provisions reducing individual tax rates on capital gains and dividend income.
Also tagged in: Accreditation (Medical care), Actions and defenses, Administrative fees, Administrative procedure, Administrative remedies, Aged, Appropriations, Armed forces, Auditing, Australia, Budgets, Business, Business records, Canada, Capital gains tax, Caribbean area, Checks, Citizenship, Civil liberties, Claims, Competitive bidding, Conflict of interests, Congress, Congressional reporting requirements, Consumer education, Consumers, Continental shelf, Contracts, Corporation taxes, Cost of living adjustments, Courts of special jurisdiction, Credit cards, Criminal justice, Cuba, Customs administration, Damages, Data banks, Defective products, Defense contracts, Defense economics, Department of Defense, Department of Health and Human Services, Department of Homeland Security, Department of the Interior, Department of the Treasury, Directories, Disciplining of employees, Drug advertising, Drug approvals, Drug industry, Drugs, Due process of law, East Asia, Education, Electronic commerce, Electronic data interchange, Electronic funds transfers, Electronic government information, Employee rights, Energy, Environmental Protection Agency, Europe, European Union, Evidence (Law), Executive departments, Expatriation, Export controls, Exports, Federal Emergency Management Agency, Federal employees, Federal officials, Federal preemption, Federal Trade Commission, Federal-state relations, Fees, Finance, Fines (Penalties), Food and Drug Administration (FDA), Foreign corporations, Foreign policy, Foreign tax credit, Forfeiture, Fraud, Gas in submerged lands, General Services Administration, Gifts, Government contractors, Government employees, Government information, Government paperwork, Government procurement, Government publicity, Government spending reductions, Governmental investigations, Gulf of Mexico, Health policy, Higher education, Identification devices, Immigration, Import restrictions, Imports, Income tax, Independent regulatory commissions, Indexing (Economic policy), Infrastructure, Infrastructure (Economics), Injunctions, Intellectual property, Intelligence activities, Interactive media, International broadcasting, Internet, Japan, Judicial review, Jurisdiction, Labeling, Latin America, Law, Legal fees, Liability (Law), Licenses, Lobbying, Medical associations, Medical care, Medical education, Medical records, Medical tests, Medicare, Medicine, Minimum tax, New Zealand, Oceania, Office of Government Ethics, Office of Management and Budget, Office of Special Counsel, Oil and gas leases, Oil and gas royalties, Oil well drilling, Overhead costs, Packaging, Parties to actions, Patent infringement, Patents, Petroleum in submerged lands, Pharmaceutical research, Pharmacies, Pharmacists, Physical examinations, Politics and government, Prescription pricing, Presidential appointments, Presidents, Price discrimination, Product counterfeiting, Profit, Public contracts, Restrictive trade practices, Right of privacy, Science policy, Security clearances, State and local government, State laws, Sunset legislation, Surety and fidelity, Switzerland, Tax deductions, Tax deferral, Tax exclusion, Tax exemption, Tax liens, Tax rates, Tax shelters, Taxation of foreign income, Technology, Telecommunication, Telephone, Television broadcasting, Trade, User charges, Web sites, Whistle blowing, Wholesale trade
Latest Action: 02/12/2007 - Sponsor introductory remarks on measure. (CR S1855-1857) Bill TextA bill to reduce the Federal budget deficit, and for other purposes. 2/12/2007--Introduced. Act for Our Kids - Repeals the Television Broadcasting to Cuba Act. Amends the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 to prohibit federal funding of television broadcasting to Cuba. Terminates the U.S. Court of Federal Claims. Requires federal agencies to reduce administrative expenses. Eliminates the Medicare Advantage Regional Plan Stabilization (SLUSH) Fund. Amends the federal criminal code to prohibit profiteering and fraud involving a contract or the provision of goods or services in connection with a war or military action. Requires: (1) suspension and debarment of unethical contractors; (2) disclosure by federal agencies, upon request, to the appropriate committee chairman or ranking member of audit reports regarding federal contractors; and (3) public access to information on federal contractor penalties and [...] show full description
Also tagged in: Brokers, Business, Corporate mergers, Corporate reorganizations, Finance, Government information, Government paperwork, Income tax, Interest, Pension funds, Pensions, Securities, Stockholders, Tax administration, Tax returns, Tax-deferred compensation plans, Taxation
Latest Action: 02/15/2007 - Sponsor introductory remarks on measure. (CR S2085-2086) Bill TextA bill to amend the Internal Revenue Code of 1986 to extend the reporting period for certain statements sent to taxpayers. 2/15/2007--Introduced. Reduce Wasteful Tax Forms Act of 2007 - Amends the Internal Revenue Code to extend until February 15 the annual deadline for reporting certain investment income to the Internal Revenue Service.
Also tagged in: Access to health care, Administrative procedure, Alcohol tax, American Samoa, Armed forces, Authorization, Budgets, Business, Business records, California, Capital gains tax, Caregivers, Child health, Children, Clinics, Congress, Congressional investigations, Congressional reporting requirements, Corporation taxes, Defense policy, Dental care, Department of Health and Human Services, Depreciation and amortization, Depressed areas, Diabetes, Disabled, Economic policy, Education, Electronic data interchange, Electronic government information, Elementary and secondary education, Employee health benefits, Employee rights, Employment of the disabled, Enterprise zones, Executive departments, Executive reorganization, Families, Family enterprises, Family leave, Federal aid to child health services, Federal employees, Federal-state relations, Federal-territorial relations, Finance, Government employees, Government information, Government paperwork, Government publicity, Government trust funds, Guam, Hawaii, Health education, Health information systems, Health maintenance organizations, Health policy, Health surveys, Hospital rates, Illegal aliens, Immigration, Import restrictions, Income tax, Indexing (Economic policy), Infants, Insurance premiums, Interest, Intergovernmental fiscal relations, Joint ventures, Labor, Law, Legislation, Licenses, Managed care, Married people, Medicaid, Medical care, Medical economics, Medical records, Medical screening, Medical tests, Medically uninsured, Medicine, Mental health services, Military personnel, Minimum tax, Minimum wages, Northern Mariana Islands, Obesity, Partnerships, Pediatrics, Pensions, Poor children, Pregnant women, Preventive medicine, Puerto Rico, Quality of care, Rural affairs, Rural health, School health programs, Self-employed, Small business, Social security, Social security taxes, State and local government, Supplemental security income program, Tax administration, Tax credits, Tax deductions, Tax penalties, Tax rates, Taxation, Technology, Telecommunication, Tennessee, Tipping, Tobacco industry, Tobacco tax, Trade, Veterans, Veterans' employment, Virgin Islands, Vocational rehabilitation, Wages, War casualties, Welfare, Welfare eligibility, Welfare waivers, Women, Women's health
Latest Action: 10/18/2007 - The Chair announced that the message and the accompanying bill would be referred to the Committees on Energy and Commerce and Ways and Means and that the Clerk would be directed to notify the Senate of the actions of the House. Bill TextAn act to amend title XXI of the Social Security Act to extend and improve the Children's Health Insurance Program, and for other purposes. 9/25/2007--House agreed to Senate amendment with amendment. (There are 4 other summaries) Children's Health Insurance Program Reauthorization Act of 2007 - Makes the amendments made by this Act effective on October 1, 2007, regardless of whether final regulations have been promulgated to carry them out. Allows certain state plans under titles XIX (Medicaid) or XXI (State Children's Health Insurance Program) (CHIP) (also known as SCHIP) of the Social Security Act (SSA) that require state legislation to meet additional requirements imposed by this Act additional time to make required plan changes. Sets forth a contingent effective date for CHIP funding for FY2008. Title I: Financing - Subtitle A: Funding - (Sec. 101) Amends SSA title XXI to reauthorize the CHIP program through FY2012 at [...] show full description
Latest Action: 03/28/2007 - Sponsor introductory remarks on measure. (CR S4053) Bill TextA bill to amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. 3/28/2007--Introduced. Amends the Internal Revenue Code to deny preferential tax rates (5 to 15%) for dividends paid by a foreign corporation if: (1) such dividends are allowed as a tax deduction or credit under the tax laws of the country in which such foreign corporation is established; (2) such foreign corporation is not treated as a corporation, is exempt from taxation, or is a passive foreign investment company under the laws of its foreign country; or (3) such dividends are paid with respect to an instrument which is not treated as stock under the tax laws of the foreign country from which such dividends are paid. Revises the definition of "qualified foreign corporation" for purposes of qualifying dividends paid by such a corporation for preferential tax rates to require such corporations be created or organized in a foreign country [...] show full description
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Latest Legislation - View All
Also tagged in: Air cargo, Business, Finance, Foreign corporations, Income tax, Investments, Merchant ships, Stockholders, Tax deductions, Tax exclusion, Taxation, Taxation of foreign income, Trade, Transportation
Latest Action: 07/29/2008 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to repeal the shipping investment withdrawal rules in section 955 and to provide an incentive to reinvest foreign shipping earnings in the United States. 7/29/2008--Introduced. American Shipping Reinvestment Act of 2008 - Amends the Internal Revenue Code to: (1) repeal shipping investment withdrawal tax rules; and (2) allow U.S. corporate shareholders a tax deduction for dividends attributable to foreign base company shipping income received from a controlled foreign corporation.
Also tagged in: Agriculture, Agriculture in foreign trade, Air pollution, Alabama, Alcohol tax, Alcoholic beverages, Alternative energy sources, American Samoa, Biomass energy, Bonds, Books, Budgets, Building construction, Business, Carbon dioxide, Cellulose, Charitable contributions, Children, Climate change, Coal, Cogeneration of electric power and heat, College costs, Communications, Computers, Corporation taxes, Criminal justice, Department of the Treasury, Depreciation and amortization, Depressed areas, Diesel motor, District of Columbia, Economic development, Economic policy, Education, Educational technology, Electric appliances, Electric power plants, Electric power production, Electric vehicles, Elementary and secondary education, Emergency management, Employee training, Energy, Energy conservation, Energy efficiency, Energy facilities, Environmental protection, Excise tax, Executive departments, Exports, Finance, Fines (Penalties), Food, Foreign corporations, Foreign policy, Foreign tax credit, Fuel cells, Geothermal resources, Government trust funds, Governmental investigations, Greenhouse gases, Higher education, Housing, Humanities, Hurricanes, Hydroelectric power, Incineration, Income tax, Indian economic development, Individual retirement accounts, Interest, Internal Revenue Service (IRS), International affairs, Inventories, Investment tax credit, Irrigation, Job training, Labor, Landfills, Law, Lawyers, Leases, Legal fees, Legal services, Liability for environmental damages, Local taxation, Losses, Louisiana, Marine resources, Methane, Mine safety, Minimum tax, Minorities, Minority employment, Mississippi, Motion pictures, Mutual funds, Natural resources, New York City, Ocean energy resources, Oil pollution, Pensions, Property tax, Puerto Rico, Railroad engineering, Refuse as fuel, Rescue work, Research and development tax credit, Restaurants, Retail trade, Rural affairs, Rural education, Sales tax, School buildings, Science policy, Service stations, Small business, Solar energy, Solid wastes, Sports, Sports facilities, State and local government, State taxation, Stocks, Subsidiary corporations, Tariff, Tax administration, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax penalties, Tax preparers, Tax rates, Tax refunds, Tax returns, Tax-exempt organizations, Taxation, Taxation of foreign income, Teacher education, Technology, Television industry, Terrorism, Trade, Transportation, Undercover operations, Urban affairs, Urban economic development, Virgin Islands, Wages, Water resources, Wind power, Wool
Latest Action: 06/12/2008 - Sponsor introductory remarks on measure. (CR S5595-5597) Bill TextA bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 6/12/2008--Introduced. Energy Independence and Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend various provisions relating to energy production and conservation and to individual and business-related activities.Extends through 2009 the tax credit for producing electricity from wind facilities and through 2011 for closed and open-loop biomass, geothermal, small irrigation, hydropower, landfill gas, and trash combustion facilities. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of such tax credit. Extends through 2014: (1) the energy tax credits for solar energy, fuel cell, and microturbine property; and (2) the residential energy efficient property tax credit. Allows a new investment tax credit for combined heat and power system property.Provides funding for new clean renewable energy [...] show full description
Latest Action: 05/22/2008 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to make the capital gains and dividends rate permanent and to provide estate tax relief and reform, and for other purposes. 5/22/2008--Introduced. Makes permanent the tax rate reductions for dividends and capital gains enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Amends the Internal Revenue Code to: (1) restore the unified credit against the estate and gift tax after 2009; (2) establish the amount of such credit at $3.5 million; and (3) provide for a single 15% estate and gift tax rate.
Also tagged in: Alternative energy sources, Biomass energy, Business, Capital gains tax, Charitable contributions, Commodity tax straddles, Congress, Diesel motor, Electric power production, Energy, Energy research, Estate tax, Excise tax, Finance, Foreign corporations, Foreign tax credit, Foundations, Gasoline, Gift tax, Government information, Hotels, motels, etc., Hydrogen, Income tax, Individual retirement accounts, Interest, Investments, Legislation, Minimum tax, Nuclear power plants, Pensions, Public records, Real estate investment trusts, Rent, Research and development tax credit, Science policy, Service stations, Small business, Sulphur, Tax administration, Tax credits, Tax exclusion, Tax-exempt organizations, Taxation, Trade, Transportation, Unrelated business income tax, Valuation, Wind power
Latest Action: 12/29/2007 - Became Public Law No: 110-172. Bill TextTo amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. 12/29/2007--Public Law. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)Tax Technical Corrections Act of 2007 - Makes technical amendments and clerical corrections to the Internal Revenue Code, including corrections to provisions enacted by: (1) the Tax Relief and Health Care Act of 2006; (2) the Pension Protection Act of 2006; (3) the Tax Increase Prevention and Reconciliation Act of 2005; (4) the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users; (5) the Energy Policy Act of 2005; (6) the American Jobs Creation Act of 2004; (7) the Economic Growth and Tax Relief Reconciliation Act of 2001; (8) the Tax Relief Extension Act of 1999; and (9) the Internal Revenue Service Restructuring and Reform Act [...] show full description
Latest Action: 12/06/2007 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 524. Bill TextA bill to amend the Internal Revenue Code of 1986 to repeal the alternative minimum tax on individuals and replace it with an alternative tax individuals may choose. 12/5/2007--Introduced. Taxpayer Choice Act of 2007 - Amends the Internal Revenue Code to: (1) repeal the alternative minimum tax on individual taxpayers after 2006; and (2) allow taxpayers to elect an alternative income tax system. Makes permanent the capital gains and dividends rate reductions enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2001.
Also tagged in: Alternative energy sources, Biomass energy, Business, Capital gains tax, Charitable contributions, Commodity tax straddles, Congress, Diesel motor, Electric power production, Energy, Energy research, Estate tax, Excise tax, Finance, Foreign corporations, Foreign tax credit, Foundations, Gasoline, Gift tax, Government information, Hotels, motels, etc., Hydrogen, Income tax, Individual retirement accounts, Interest, Investments, Legislation, Minimum tax, Nuclear power plants, Pensions, Public records, Real estate investment trusts, Rent, Research and development tax credit, Science policy, Service stations, Small business, Sulphur, Tax administration, Tax credits, Tax exclusion, Tax-exempt organizations, Taxation, Trade, Transportation, Unrelated business income tax, Valuation, Wind power
Latest Action: 11/15/2007 - Sponsor introductory remarks on measure. (CR S14494) Bill TextA bill to amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. 11/15/2007--Introduced. Tax Technical Corrections Act of 2007 - Makes technical and clerical corrections to the Internal Revenue Code, including corrections to provisions enacted by: (1) the Tax Relief and Health Care Act of 2006; (2) the Pension Protection Act of 2006; (3) the Tax Increase Prevention and Reconciliation Act of 2005; (4) the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users; (5) the Energy Policy Act of 2005; (6) the American Jobs Creation Act of 2004; (7) the Jobs and Growth Tax Relief Reconciliation Act of 2003; (8) the Economic Growth and Tax Relief Reconciliation Act of 2001; (9) the Tax Relief Extension Act of 1999; and (10) the Internal Revenue Service Restructuring and Reform Act of 1998.
Also tagged in: Alternative energy sources, Biomass energy, Business, Capital gains tax, Charitable contributions, Commodity tax straddles, Congress, Diesel motor, Electric power production, Energy, Energy research, Estate tax, Excise tax, Finance, Foreign corporations, Foreign tax credit, Foundations, Gasoline, Gift tax, Government information, Hotels, motels, etc., Hydrogen, Income tax, Individual retirement accounts, Interest, Investments, Legislation, Minimum tax, Nuclear power plants, Pensions, Public records, Real estate investment trusts, Rent, Research and development tax credit, Science policy, Service stations, Small business, Sulphur, Tax administration, Tax credits, Tax exclusion, Tax-exempt organizations, Taxation, Trade, Transportation, Unrelated business income tax, Valuation, Wind power
Latest Action: 11/15/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. 11/15/2007--Introduced. Tax Technical Corrections Act of 2007 - Makes technical and clerical corrections to the Internal Revenue Code, including corrections to provisions enacted by: (1) the Tax Relief and Health Care Act of 2006; (2) the Pension Protection Act of 2006; (3) the Tax Increase Prevention and Reconciliation Act of 2005; (4) the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users; (5) the Energy Policy Act of 2005; (6) the American Jobs Creation Act of 2004; (7) the Jobs and Growth Tax Relief Reconciliation Act of 2003; (8) the Economic Growth and Tax Relief Reconciliation Act of 2001; (9) the Tax Relief Extension Act of 1999; and (10) the Internal Revenue Service Restructuring and Reform Act of 1998.
Also tagged in: Accounting, Administrative procedure, Aged, Aliens, Alimony, Americans in foreign countries, Annuities, Armed forces, Athletics, Bank accounts, Banks and banking, Bonds, Business, Business travel, Capital gains tax, Cemeteries and funerals, Charitable contributions, Child support, Children, College costs, College sports, Colleges, Commemorations, Communications, Conservation of natural resources, Contracts, Cooperative societies, Corporate governance, Corporate mergers, Corporation taxes, Cost of living adjustments, Criminal justice, Damages, Debt, Defense policy, Department of the Treasury, Depreciation and amortization, Disability insurance, Disabled, Divorce, Economic policy, Education, Education savings accounts, Employee ownership, Employee training, Environmental protection, Estate tax, Executive departments, Expatriation, Families, Finance, Financial services, Food, Foreign corporations, Foreign policy, Foster home care, Foundations, Fringe benefits, Gift tax, Gifts, Government corporations, Habitat conservation, Health insurance, Health policy, Higher education, Historic sites, History, Home ownership, Housing, Housing finance, Immigration, Imports, Income tax, Indexing (Economic policy), Individual retirement accounts, Insurance companies, Insurance premiums, Interest, Intergovernmental tax relations, International affairs, Job training, Labor, Land use, Law, Leases, Life insurance, Loan defaults, Lobbying, Local government, Losses, Marketing, Married people, Medical care, Medical economics, Medical research, Medical savings accounts, Medicare, Military pay, Military pensions, Mortgages, Natural resources, Officer personnel, Old age, survivors and disability insurance, Open space lands, Outdoor recreation, Partnerships, Pensions, Politics and government, Profit, Railroad retirement plans, Real estate business, Real estate development, Recreation areas, Rent, Salaries, School personnel, Science policy, Single people, Social security, Social security taxes, Social services, Sports, Sports facilities, State and local government, State politics and government, Stocks, Tax administration, Tax credits, Tax deductions, Tax deferral, Tax evasion, Tax exclusion, Tax exemption, Tax penalties, Tax rates, Tax refunds, Tax returns, Tax simplification, Tax treaties, Tax-deferred compensation plans, Tax-exempt organizations, Taxation, Taxation of foreign income, Teachers, Telecommunication, Telecommunication industry, Telephone, Territories (U.S.), Terrorism, Torts, Trade, Transportation, Travel costs, Trusts and trustees, Unemployment, Unrelated business income tax, Vocational education, Wages, Withholding tax, Workers' compensation
Latest Action: 11/13/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to restructure and replace the income tax system of the United States to meet national priorities, and for other purposes. 11/13/2007--Introduced. Simplified USA Tax Act of 2007 - Repeals, after 2006, income tax and estate and gift tax provisions of the Internal Revenue Code of 1986. Replaces such Code with a new tax system, to be known as the Simplified USA Tax. Establishes three income tax brackets at 15, 25, and 30% for individual taxpayers. Redefines "gross income" and allows certain exclusions from gross income, including previously-taxed benefits, tax-exempt bond interest, compensation for injuries and sickness, and gain from the sale of a principal residence. Allows tax deductions for alimony and child support, home mortgage interest, certain higher education expenses, and charitable contributions. Allows a tax credit for employee social security payroll taxes.Revises rules for Roth individual retirement [...] show full description
Latest Action: 11/08/2007 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 476. Bill TextA bill to amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax and to permanently extend the reductions in income tax rates, and for other purposes. 11/7/2007--Introduced. AMT Repeal and Tax Freedom Act - Amends the Internal Revenue Code to repeal the alternative minimum tax for individual taxpayers after 2006. Exempts individual taxpayers who had no alternative minimum tax liability in the taxable year preceding 2006 from estimated income tax penalties for taxable years beginning in 2006. Makes permanent reductions in income tax rates enacted by the Economic Growth and Tax Relief and Reconciliation Act of 2001 and capital gains and dividends tax rates enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Also tagged in: Alabama, Alcohol tax, American Samoa, Armed forces, Bonds, Books, Brokers, Brownfields, Budgets, Business, Caribbean area, Charitable contributions, Children, Civil rights, Collection of accounts, College costs, Computer software, Computers, Congress, Congressional reporting requirements, Cooperative housing, Corporation taxes, Criminal justice, Debt, Defense policy, Depreciation and amortization, Discrimination in insurance, Discrimination in medical care, District of Columbia, Earned income tax credit, Economic development, Economic policy, Education, Educational technology, Elementary and secondary education, Elementary education, Employee stock options, Employment, Environmental protection, Estate tax, Expatriation, Families, Federal aid to education, Federal-local relations, Finance, Food, Foreign corporations, Foreign tax credit, Gift tax, Government contractors, Government employees, Government information, Government paperwork, Government travel, Hazardous substances, Hazardous waste sites, Hazardous wastes, Health insurance, Higher education, Home ownership, Housing, Housing finance, Humanities, Hurricanes, Immigration, Income tax, Indian lands, Indians, Individual retirement accounts, Industrial research, Insurance premiums, Interest, Intergovernmental fiscal relations, Investments, Labor, Leases, Liability for environmental damages, Local taxation, Louisiana, Maintenance and repair, Mental health services, Mental illness, Military pay, Military personnel, Minimum tax, Minorities, Mississippi, Mortgage guaranty insurance, Mortgages, Mutual funds, Natural resources, Nature conservation, Partnerships, Pensions, Property tax, Public contracts, Puerto Rico, Railroads, Research and development tax credit, Restaurants, Sales tax, Scholarships, School buildings, Secondary education, Securities industry, Social security taxes, Solid wastes, Sports, Sports facilities, State and local government, State legislators, State taxation, Stocks, Student loan funds, Subsidiary corporations, Surety and fidelity, Tariff, Tax administration, Tax credits, Tax deductions, Tax deferral, Tax evasion, Tax exclusion, Tax incentives, Tax penalties, Tax refunds, Tax returns, Tax-deferred compensation plans, Tax-exempt organizations, Taxation, Taxation of foreign income, Teachers, Teaching materials, Technology, Terrorism, Trade, Transportation, Travel costs, Undercover operations, Valuation, Veterans, Veterans' benefits, Virgin Islands, Welfare, Wine, Withholding tax
Latest Action: 12/26/2007 - Became Public Law No: 110-166. Bill TextTo amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 12/26/2007--Public Law. (There are 3 other summaries) (This measure has not been amended since it was passed by the Senate on December 6, 2007. The summary o |
