U.S. Congress - H.R.3903 Paying a Fair Share Act of 2012
H.R.3903 - Paying a Fair Share Act of 2012
To reduce the deficit by imposing a minimum effective tax rate for high-income taxpayers. view all titles (2)
All Bill Titles
- Official: To reduce the deficit by imposing a minimum effective tax rate for high-income taxpayers. as introduced.
- Short: Paying a Fair Share Act of 2012 as introduced.
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Bill's Views
- Today: 6
- Past Seven Days: 23
- All-Time: 1,564
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Committees
Official Summary
2/6/2012--Introduced.Paying a Fair Share Act of 2012 - Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modiOfficial Summary
2/6/2012--Introduced.Paying a Fair Share Act of 2012 - Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax). Establishes the amount of such tax as the excess (if any) of the tentative fair share tax over the excess of:(1) the sum of the taxpayer's regular tax liability, the alternative minimum tax (AMT) amount, and the payroll tax for the taxable year; over
(2) certain tax credits. Provides for a phase-in of such tax. Requires an inflation adjustment to the $1 million income threshold for taxable years beginning after 2013. Expresses the sense of the House of Representatives that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.
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Organizations Supporting H.R.3903
- Coalition on Human Needs
- YWCA USA
- Wealth for the Common Good
- US Action
- United Steelworkers
- United for a Fair Economy
- ...and 63 more. See all.
Organizations Opposing H.R.3903
- US Chamber of Commerce
- Fair Tax Nation
- Bankrupting America
- Alliant Group
Latest Letters to Congress
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H.R.3903 Paying a Fair Share Act of 2012
liveandiebytheconstitution
April 12, 2012
I am writing as your constituent in the 24th Congressional district of New York. I oppose H.R.3903 - Paying a Fair Share Act of 2012, and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
Sincerely,
sue henzel -
H.R.3903 Paying a Fair Share Act of 2012
Heklein
April 09, 2012
I am writing as your constituent in the 8th Congressional district of Maryland. I support H.R.3903 - Paying a Fair Share Act of 2012, and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
Sincerely,
Hannah Klein
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