U.S. Congress - S.552 Emergency Deficit Reduction Act
S.552 - Emergency Deficit Reduction Act
A bill to reduce the Federal budget deficit by creating a surtax on high income individuals and eliminating big oil and gas company tax loopholes. view all titles (2)
All Bill Titles
- Short: Emergency Deficit Reduction Act as introduced.
- Official: A bill to reduce the Federal budget deficit by creating a surtax on high income individuals and eliminating big oil and gas company tax loopholes. as introduced.
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Official Summary
3/10/2011--Introduced.Emergency Deficit Reduction Act - Amends the Internal Revenue Code to: (1) impose an additional 5.4% tax on individual taxpayers whose modified adjusted gross income exceeds $1 million ($2 million in the case of a joint return); (2) repeal the amortization of intangibOfficial Summary
3/10/2011--Introduced.Emergency Deficit Reduction Act - Amends the Internal Revenue Code to:(1) impose an additional 5.4% tax on individual taxpayers whose modified adjusted gross income exceeds $1 million ($2 million in the case of a joint return);
(2) repeal the amortization of intangible and drilling and development costs for oil, gas, and geothermal wells;
(3) repeal the percentage depletion allowance for oil and gas wells; and
(4) deny a tax deduction for income attributable to the domestic production of oil, natural gas, or primary products thereof.
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Recent News Coverage
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Sport's great father-son duos
Both represented their state, while Craig also wore the green and gold. Ken and Dustin Fletcher’s 552-game mark for Essendon Bombers is a VFL/AFL record. Ken was a Victoria representative in the 1970s, and Dustin won premierships at the Bombers in 1993 a
Brewers try putting Hart at first base
MILWAUKEE -- In less than a week, Corey Hart has been the focus of multiple changes for the Brewers. Four days after moving into the leadoff spot in an effort to jump-start the offense, Hart made just his second career start at first base Monday ...
Brewers stick with Kottaras-Wolf battery
MILWAUKEE -- As well as Jonathan Lucroy has been swinging the bat lately, it was not enough to get him the start Monday behind the plate, even with lefty Madison Bumgarner on the mound for the Giants. Instead, manager Ron Roenicke stuck with the ...
Recent Blog Coverage
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The country is young. - Thieves in the Temple.
CREDO's alert supports S. 552, a Bernie Sanders production that would hike millionaire tax rates by a little over five percentage points -- that's too low for my taste, but it would help sop up the deficit pool. ...
“Stop Coddling the Super-Rich,” Warren Buffett « Eslkevin's Blog
Bernie Sanders' bill (S. 552) to tax millionaires and billionaires, and make every senator go on the record about supporting or opposing Mr. Buffett's request to raise his taxes.” Automatically add your name: ...
In His Sight: VELVET SLIPPERS
There is some hope in the Fairness in Taxation Act (H.R. 1124 and S. 552). These bills would change this inequity by creating a series of new tax brackets, starting at $1 million in income and going up to $1 billion. ...
Latest Letters to Congress
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S.552 Emergency Deficit Reduction Act
DPW
September 27, 2011
I am writing as your constituent in the 7th Congressional district of Arizona. I support S.552 - Emergency Deficit Reduction Act, and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
Sincerely,
Carrie Gleason -
S.552 Emergency Deficit Reduction Act
vfieldtrip
August 18, 2011
I am writing as your constituent in the 3rd Congressional district of New York. I am writing as your constituent in the 3rd Congressional district of New York. I support S.552 - Emergency Deficit Reduction Act, and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
I know the most recent action for this bill is as follows: "Read twice and referred to the Committee on Finance." on Mar 10, 2011
As noted by rockmann07, ... -
S.552 Emergency Deficit Reduction Act
jvabso111
August 09, 2011
I am writing as your constituent in the 15th Congressional district of Michigan. I support S.552 - Emergency Deficit Reduction Act.
There's no reason for gigantic, wildly profitable multi-national corporations, who are the most privileged and powerful entities in the world, (in many ways wielding power beyond that of governments, due to being able to pick and choose which countries to place their various operations) to get any kind of subsidies of tax breaks that small mom and pop shops don...
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