Latest Action: 11/18/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 1119 under authority of the order of the Senate of 11/17/2008.

Bill Text
A bill to amend the Internal Revenue Code of 1986 to index certain assets for purposes of determining gain or loss.

9/22/2008--Introduced.

Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets.

Sets forth rules for applying such inflation adjustment to short sales, regulated investment companies and real estate investment trusts, partnerships and other pass-thru entities, and dispositions of assets between related persons.

Latest Action: 06/02/2008 - Referred to the Subcommittee on Income Security and Family Support.

Bill Text
To stimulate the economy of the United States and provide financial relief to low-income families in the United States. 5/22/2008--Introduced. Family Relief and Economic Stimulus Act - Allows federal-state agreements for payment of emergency unemployment compensation to individuals who have exhausted their rights to such compensation.Amends the Internal Revenue Code to: (1) allow individuals who are facing foreclosure to make penalty-free withdrawals from tax-exempt retirement plans; (2) extend through 2008 the tax deduction for dividends received from controlled foreign corporations; (3) suspend the excise tax on gasoline, diesel fuel, and kerosene for a specified period in 2008; and (4) adjust the basis of certain capital assets for inflation for purposes of determining gain or loss for income tax purposes. Provides additional funding to state and local governments for the redevelopment of abandoned and foreclosed upon residences and for the weatherization [...]

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Latest Action: 05/14/2008 - Referred to the Committee on Financial Services, and in addition to the Committees on Education and Labor, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the juri

Bill Text
To require the Board of Governors of the Federal Reserve System to focus on price stability in establishing monetary policy to ensure the stable, long-term purchasing power of the currency, to repeal the Full Employment and Balanced Growth Act of 1978, and for other purposes. 5/14/2008--Introduced. Price Stability Act of 2008 - Declares it is US policy that the principal economic responsibilities of the Government are to establish both long-term economic growth and increases in living standards, maintain free markets, low taxes, respect for private property, and the stable, long-term purchasing power of US currency. Declares that the promotion of price stability should be the primary long-term goal of the Board of Governors of the Federal Reserve System. Amends the Federal Reserve Act to revise the mandate of the Board and the Federal Open Market Committee to require them to: (1) establish a numerical definition of the term "price stability"; and (2) [...]

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Latest Action: 05/13/2008 - Referred to the House Committee on Financial Services.

Bill Text
To mandate price stability as the primary goal of the monetary policy of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee. 5/13/2008--Introduced. Price Stability and Inflation Targeting Act of 2008 - Declares that the primary and overriding goal of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee with regard to monetary policy shall be the achievement of price stability. Authorizes the Board and the Committee to suspend such goal if the Committee, by a majority vote, and the President jointly determine such suspension necessary due to war or an economic emergency. Requires the Board and the Committee to: (1) establish a definition of the goal of price stability; (2) implement such definition through inflation targets; and (3) specify a timeframe for achieving such goal. Directs the Board to determine in advance what action it will take if the goal of fully achieving price [...]

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Latest Action: 03/15/2007 - Sponsor introductory remarks on measure. (CR S3203-3204)

Bill Text
A bill to amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss.

3/15/2007--Introduced.

Capital Gains Inflation Relief Act of 2007 - Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets.

Sets forth rules for applying such inflation adjustment to short sales, regulated investment companies and real estate investment trusts, partnerships and other pass-thru entities, and dispositions of assets between related persons.

Latest Action: 03/09/2007 - Referred to the House Committee on the Budget.

Bill Text
To amend the Balanced Budget and Emergency Deficit Control Act of 1985 to eliminate automatic increases for inflation from CBO baseline projections for discretionary appropriations, and for other purposes. 3/9/2007--Introduced. Zero Baseline Budget Act of 2007 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to eliminate sequential and cumulative adjustments for inflation from Congressional Budget Office (CBO) baseline projections for discretionary appropriations with respect to: (1) expiring housing contracts and social insurance administrative expenses; (2) offset pay absorption and pay annualization; (3) inflation; and (4) any accounting for changes required by law in the level of agency payments for personnel benefits other than pay. Exempts from the requirement that budgetary resources (other than unobligated balances) be at the level available in the current year any resources designated as an emergency requirement [...]

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Latest Action: 03/01/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to provide for the indexing of certain assets for purposes of determining gain or loss.

3/1/2007--Introduced.

Capital Gains Inflation Relief Act of 2007 - Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets.

Sets forth rules for applying such inflation adjustment to short sales, regulated investment companies and real estate investment trusts, partnerships and other pass-thru entities, and dispositions of assets between related persons.

Latest Action: 03/27/2007 - Referred to the Subcommittee on Government Management, Organization, and Procurement.

Bill Text
To establish the Commission on Economic Indicators to conduct a study and submit a report containing recommendations concerning the appropriateness and accuracy of the methodology, calculations, and reporting used by the Government relating to certain economic indicators.

2/16/2007--Introduced.

Commission on Economic Indicators Act of 2007 - Establishes the Commission on Economic Indicators to study and report to Congress on: (1) economic statistics collected and reported by U.S. government agencies, including national income, employment and unemployment, wages, personal income, wealth, savings, debt, productivity, inflation, and international trade and capital flows; and (2) ways to improve the related statistical measurements.

Latest Action: 06/05/2007 - Referred to the Subcommittee on Workforce Protections.

Bill Text
To establish a living wage, jobs for all policy for all peoples in the United States and its territories, and for other purposes. 2/14/2007--Introduced. A Living Wage, Jobs for All Act - Declares that Congress affirms the basic economic rights and responsibilities under the 1944 "Economic Bill of Rights," while updating and extending it to include: (1) certain rights to decent jobs, income security for individuals unable to work for pay, a decent living for farm families, freedom from monopolies, decent housing, adequate health services, Social Security in old age, sickness, accidental injury, and unemployment, and education and work training; and (2) certain other rights relating to collective bargaining, a safe working environment, information on trends in pollution sources and products and processes that affect the well-being of workers throughout the world, voting and campaigning, and personal security. Requires corporations registered with the Securities and Exchange [...]

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