U.S. Congress - S.2059 Paying a Fair Share Act of 2012
S.2059 - Paying a Fair Share Act of 2012
A bill to reduce the deficit by imposing a minimum effective tax rate for high-income taxpayers. view all titles (2)
All Bill Titles
- Short: Paying a Fair Share Act of 2012 as introduced.
- Official: A bill to reduce the deficit by imposing a minimum effective tax rate for high-income taxpayers. as introduced.
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Official Summary
2/1/2012--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
2/1/2012--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 Senate 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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Recent News Coverage
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Swanger claims victory in 102nd
With all precincts reporting, Swanger garnered 4,271 votes, more than double Joe Eisenhauer's 2,059 votes and Tom A. Hawk's 1,131 votes. In the Democratic primary for the 15th U.S. Congressional District, Rick Daugherty leads Eaton Jackson ...
Swanger claims victory in 102nd
With all precincts reporting, Swanger garnered 4,271 votes, more than double Joe Eisenhauer's 2,059 votes and Tom A. Hawk's 1,131 votes. In the Democratic primary for the 15th U.S. Congressional District, Rick Daugherty leads Eaton Jackson ...
What's Really at Stake as 'Buffett Rule' Nears Senate Vote
President Barack Obama and congressional Democrats are laying a political trap for Republicans to be sprung on Monday when the U. S. Senate is slated to vote on the proposed "Buffett Rule," which would slap a minimum tax on the highest-income ...
Recent Blog Coverage
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Q+A: The "Buffett Rule," a minimum tax on the rich | Xtax
(Senate Bill: S. 2059: http://thomas.loc.gov/cgi-bin/query/z?c112:S.2059:). WHAT IS THE RULE SUPPOSED TO DO? The White House on Tuesday said the Buffett Rule was being proposed “as a basic rule of tax fairness” and ...
Q+A: The “Buffett Rule,” a minimum tax on the rich
(Senate Bill: S. 2059: http://thomas.loc.gov/cgi-bin/query/z?c112:S.2059:). WHAT IS THE RULE SUPPOSED TO DO? The White House on Tuesday said the Buffett Rule was being proposed “as a basic rule of tax fairness” and ...
Q+A: The “Buffett Rule,” a minimum tax on the rich
(Senate Bill: S. 2059: http://thomas.loc.gov/cgi-bin/query/z?c112:S.2059:). WHAT IS THE RULE SUPPOSED TO DO? The White House on Tuesday said the Buffett Rule was being proposed “as a basic rule of tax fairness” and ...
Latest Letters to Congress
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S.2059 Paying a Fair Share Act of 2012
NTSH
April 20, 2012
I am writing as your constituent in the 19th Congressional district of California. I support S.2059 - 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,
Nicholas Henson -
S.2059 Paying a Fair Share Act of 2012
djjustice24
April 16, 2012
I am writing as your constituent in the 31st Congressional district of California. I support S.2059 - 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,
Orlando avila -
S.2059 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 S.2059 - 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
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