Latest Action: 06/09/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 771.

Bill Text
A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 6/6/2008--Introduced. Alternative Minimum Tax and Extenders Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend expiring provisions relating to the alternative minimum tax, individual and business taxpayers, energy conservation, and tax administration. Extends through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liabilities; and (2) the increased AMT exemption amounts. Extends through 2009: (1) the election to deduct state and local sales taxes in lieu of state and local income taxes; (2) the tax deductions for qualified tuition and related expenses and for certain expenses of elementary and secondary school teachers; (3) tax-free distributions from individual retirement accounts (IRAs) for charitable purposes; and (4) tax rules for treatment of [...]

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Latest Action: 07/08/2008 - Returned to the Calendar. Calendar No. 742.

Bill Text
A bill to direct the Administrator of the Environmental Protection Agency to establish a program to decrease emissions of greenhouse gases, and for other purposes. 5/20/2008--Introduced. Lieberman-Warner Climate Security Act of 2008 - Requires the Administrator of the Environmental Protection Agency (EPA) to establish: (1) a federal greenhouse gas (GHG) registry, for which certain facilities must report information regarding fossil fuels and GHGs produced and consumed; and (2) specified quantities of GHG emission allowances, which decline for each of 2012 to 2050. Requires the Administrator to establish a GHG emission allowance transfer system for the following: (1) facilities that use more than 5,000 tons of coal in a year; (2) facilities in the natural gas sector; (3) facilities that produce or entities that import petroleum- or coal-based fuel the combustion of which will emit group I GHGs; (4) facilities that produce or entities that import, in any year, more than [...]

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Latest Action: 06/17/2008 - Became Public Law No: 110-245.

Bill Text
To amend the Internal Revenue Code of 1986 to provide benefits for military personnel, and for other purposes. 6/17/2008--Public Law.    (There are 3 other summaries) (This measure has not been amended since it was passed by the House on May 20, 2008. The summary of that version is repeated here.)Heroes Earning Assistance and Relief Tax Act of 2008 -Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel.Title I: Benefits for Military - (Sec 101) Exempts married taxpayers who file a joint tax return from the identification requirement for the 2008 recovery tax rebate if at least one of the filers is a current member of the Armed Forces.(Sec. 102) Makes permanent the election to treat combat zone compensation as earned income for purposes of the earned income tax credit. (Sec. 103) Makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage [...]

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Latest Action: 05/12/2008 - Referred to the Subcommittee on Federal Workforce, Post Office, and the District of Columbia.

Bill Text
To provide for a paid family and medical leave insurance program, and for other purposes. 4/22/2008--Introduced. Family Leave Insurance Act of 2008 - Directs the Secretary of Labor to establish a Family and Medical Leave Insurance Program, mandatory for certain covered employers.. Authorizes the Secretary to: (1) contract for a state to provide benefits in that state through the Program, including expansion of a pre-existing state program; or (2) at a governor's request enter an interagency agreement with the Commissioner of the Social Security Administration to establish and provide Program benefits directly through a state Family and Medical Insurance Program. Entitles eligible employees to Program benefits that include specified percentages of their daily earnings for 12 workweeks of leave under the Family and Medical Leave Act of 1993 during any 12-month period. Authorizes any employer, with the Secretary's approval, to establish a voluntary [...]

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Latest Action: 04/17/2008 - Sponsor introductory remarks on measure. (CR S3156-3157)

Bill Text
A bill to amend the Internal Revenue Code of 1986 to amend certain expiring provisions. 4/17/2008--Introduced. Alternative Minimum Tax and Extenders Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend expiring provisions relating to the alternative minimum tax, individual and business taxpayers, energy conservation, and tax administration. Extends through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against alternative minimum tax (AMT) liability; and (2) increased AMT exemption amounts.Extends through 2009: (1) the election to include combat zone compensation as earned income for purposes of the earned income tax credit; (2) tax-free distributions from individual retirement plans (IRAs) for individuals called or ordered to active military duty and for charitable purposes; (3) the election to deduct state and local sales taxes in lieu of state and local income taxes; (4) the tax deductions for qualified tuition [...]

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Latest Action: 04/10/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to impose a tax on the amount of wages in excess of the contribution and benefit base, and for other purposes.

4/10/2008--Introduced.

Social Security Forever Act of 2008 - Amends the Internal Revenue Code to impose on employers, employees, and self-employed individuals an additional employment tax for wages in excess of the social security contribution and benefit base.

Requires all Treasury securities to bear a facsimile of the signatures of the President and the Secretary of the Treasury.

Latest Action: 03/14/2008 - Referred to the Committee on Education and Labor, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the commi

Bill Text
To provide public charter school options for those students that attend schools that are in need of improvement and have been identified for restructuring and those schools with a graduation rate of less than 60 percent, and for other purposes. 3/14/2008--Introduced. Pell Grants for Kids Act of 2008 - Directs the Secretary, subject to advance appropriations, to award competitive grants to states, public chartering agencies, local educational agencies, or tax-exempt organizations to enhance the capacity of public charter schools to serve additional students, particularly those transferring from schools identified as needing restructuring under the Elementary and Secondary Education Act of 1965 for failing to make adequate yearly progress (AYP) pursuant to state academic performance standards for five consecutive school years. Limits grant use to providing subgrants to public charter schools, covering the administrative expenses of grantees and subgrantees, and enhancing [...]

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Latest Action: 03/13/2008 - Sponsor introductory remarks on measure. (CR 3/14/2008 S2155)

Bill Text
A bill to amend the Internal Revenue Code of 1986 and the Social Security Act to treat certain domestically controlled foreign persons performing services under contract with the United States Government as American employers for purposes of certain employment taxes and benefits.

3/13/2008--Introduced.

Fair Share Act of 2008 - Amends the Internal Revenue Code and title II (Old Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to treat certain foreign subsidiaries of U.S. companies performing services under a contract with the U.S. government as U.S. employers for purposes of Social Security and Medicare employment taxes.

Latest Action: 03/13/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 and the Social Security Act to treat certain domestically controlled foreign persons performing services under contract with the United States Government as American employers for purposes of certain employment taxes and benefits.

3/13/2008--Introduced.

Fair Share Act of 2008 - Amends the Internal Revenue Code and title II (Old Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to treat certain foreign subsidiaries of U.S. companies performing services under a contract with the U.S. government as U.S. employers for purposes of Social Security and Medicare employment taxes.

Latest Action: 02/25/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to exclude from income and employment taxes real property tax abatements for seniors and disabled individuals in exchange for services.

2/25/2008--Introduced.

Amends the Internal Revenue Code to allow individuals who have attained age 60 or are disabled an exemption from income and employment taxes for real property tax abatements received under a state or local program in which such individuals have provided services in exchange for such abatements.

Latest Action: 01/29/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to repeal the withholding of income and social security taxes.

1/29/2008--Introduced.

Federal Tax Withholding Act of 2008 - Amend the Internal Revenue Code to repeal withholding of tax requirements for income, railroad retirement, and social security taxes. Requires estimated tax payments for social security and railroad retirement taxes.

Latest Action: 12/19/2007 - Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction

Bill Text
To provide for each American the opportunity to provide for his or her retirement through a S.A.F.E. account, and for other purposes. 12/19/2007--Introduced. Savings Account for Every American Act of 2007 - Allows employees and self-employed individuals with a social security number to elect to participate in a S.A.F.E. account. Defines such an account as a trust created exclusively for the benefit of an individual or his or her beneficiaries. Requires: (1) employers of electing employees to establish a payroll deduction program to make employee contributions (6.2% of wages) to such accounts; and (2) employer matching contributions after a participating employee has maintained an account for 15 years. Imposes penalties on employers who fail to make required payroll deductions or pay deducted wages to S.A.F.E. accounts. Directs the Office of Personnel Management (OPM) to study and report to the President and Congress on extending S.A.F.E. accounts to federal civilian [...]

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Latest Action: 12/13/2007 - Sponsor introductory remarks on measure. (CR E2569)

Bill Text
To amend the Internal Revenue Code of 1986 to waive the employee portion of Social Security taxes imposed on individuals who have been diagnosed as having cancer or a terminal disease.

12/13/2007--Introduced.

Cancer and Terminal Illness Patient Health Care Act of 2007- Amends the Internal Revenue Code to waive the employee portion of the Social Security tax for any period in which a taxpayer has been certified by a physician as having cancer or a terminal illness or is the primary caregiver for a spouse, parent, or child with cancer or a terminal disease.

Reduces by 50 percent the rates of tax levied on a self-employed individual for old age, survivors and disability insurance and hospital insurance if a physician has certified that such individual has a terminal disease or cancer throughout the taxable year or is the primary caregiver for a spouse, parent, or child with a terminal disease or cancer.

Latest Action: 12/06/2007 - Sponsor introductory remarks on measure. (CR S14850-14851)

Bill Text
A bill to amend the Internal Revenue Code of 1986 to provide tax benefits to individuals who have been wrongfully incarcerated. 12/6/2007--Introduced. Wrongful Convictions Tax Relief Act of 2007 - Amends the Internal Revenue Code to allow wrongfully incarcerated individuals: (1) an exclusion from gross income for compensation received relating to their incarceration and for the first $50,000 of annual income received by such an individual after release from incarceration; and (2) a refundable tax credit for 50% of payroll taxes on employment and self-employment income, up to $50,000 of such income. Limits the duration of such tax benefits to the lesser of 15 years or the number of years such an individual was incarcerated.Defines "wrongfully incarcerated individual" as an individual who was convicted of a criminal offense and was then pardoned or found not guilty of such offense because of innocence after serving all or a portion of a prison term. Disqualifies [...]

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Latest Action: 11/15/2007 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to amend the Internal Revenue Code of 1986 to provide for residents of Puerto Rico who participate in cafeteria plans under the Puerto Rican tax laws an exclusion from employment taxes which is comparable to the exclusion that applies to cafeteria plans under such Code.

11/15/2007--Introduced.

Amends the Internal Revenue Code to exempt from employment and unemployment taxes payments made on behalf of Puerto Rican residents participating in tax-exempt employee benefit cafeteria plans established under Puerto Rican law.

Latest Action: 11/15/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to update the optional methods for computing net earnings from self-employment.

11/15/2007--Introduced.

Amends the Internal Revenue Code and title II (Old Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to revise the optional method of computing the net earnings of self-employed individuals for purposes of determining social security benefit eligibility. Replaces the numerical formula for determining benefit eligibility with an indexed calculation based on a lower limit (the amount required under the Social Security Act for a quarter of coverage) and an upper limit (150 percent of the lower limit).

Latest Action: 02/05/2008 - Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

Bill Text
To reform Social Security retirement and Medicare by establishing a Personal Social Security Savings Program to create a safer, healthier, more secure, and more prosperous retirement for all Americans and to reduce the burden on young Americans. 11/14/2007--Introduced. Securing Medicare and Retirement for Tomorrow Act of 2007, or SMART Act of 2007 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to add a new part B (Personal Social Security Savings Program) under which each employer shall establish and maintain for each participating employee a personal Social Security account under a Social Security payroll deduction plan. Provides for the participation by self-employed individuals and the investment of personal Social Security account funds in one qualified Social Security mutual fund designated by the participating individual. Establishes the Personal Accounts Management and Review Board, and requires it to [...]

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Latest Action: 11/13/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To 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 [...]

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Latest Action: 12/26/2007 - Became Public Law No: 110-166.

Bill Text
To 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 of that version is repeated here.)

Tax Increase Prevention Act of 2007 - Amends the Internal Revenue Code to extend through 2007 for individual taxpayers: (1) the increased alternative minimum tax (AMT) exemption amounts; and (2) the offset of nonrefundable personal tax credits against regular and AMT liability.