H.R.8 - "Fiscal cliff" bill

To extend certain tax relief provisions enacted in 2001 and 2003, and for other purposes. view all titles (9)

All Bill Titles

  • Popular: "Fiscal cliff" bill.
  • Short: American Taxpayer Relief Act of 2012 as enacted.
  • Official: To extend certain tax relief provisions enacted in 2001 and 2003, and for other purposes. as introduced.
  • Short: Job Protection and Recession Prevention Act of 2012 as introduced.
  • Official: To extend certain tax relief provisions enacted in 2001 and 2003, and to provide for expedited consideration of a bill providing for comprehensive tax reform, and for other purposes. as amended by house.
  • Short: Job Protection and Recession Prevention Act of 2012 as passed house.
  • Short: Pathway to Job Creation through a Simpler, Fairer Tax Code Act of 2012 as passed house.
  • Short: American Taxpayer Relief Act of 2012 as passed senate.
  • Official: An act entitled the "American Taxpayer Relief Act of 2012". as amended by senate.

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Bill’s Views

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  • Past Seven Days: 15
  • All-Time: 8,288
 
Introduced
 
House
Passed
 
Senate
Passed
 
President
Signed
 

 
07/23/12
 
08/01/12
 
12/31/12
 
01/01/13
 

Sponsor

Representative

Dave Camp

R-MI

View Co-Sponsors (28)
 

Latest Vote

Result: Passed - January 01, 2013

Roll call number 659 in the House

Question: On Motion to Concur in the Senate Amendments: H R 8 To extend certain tax relief provisions enacted in 2001 and 2003, and to provide for expedited consideration of a bill providing for comprehensive tax reform, and for other purposes

 

Official Summary

8/1/2012--Passed House amended. Title I: Job Protection and Recession Prevention Act - Job Protection and Recession Prevention Act of 2012 - (Sec. 102) Extends through 2013: (1) the tax rate reductions and other tax benefits of the Economic Growth and Tax Relief Reconciliation Act of 2001,

Official Summary

8/1/2012--Passed House amended. Title I: Job Protection and Recession Prevention Act - Job Protection and Recession Prevention Act of 2012 -

(Sec. 102)

Extends through 2013:
(1) the tax rate reductions and other tax benefits of the Economic Growth and Tax Relief Reconciliation Act of 2001, and
(2) the reduction in the tax rates for dividend and capital gain income enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003.

(Sec. 103)

Amends the Internal Revenue Code to extend for an additional year:
(1) the increased expensing allowance for depreciable business assets, including computer software;
(2) the increased exemption amount from the alternative minimum tax (AMT) for individual taxpayers; and
(3) the offset against the AMT for certain nonrefundable personal tax credits.

(Sec. 105)

Provides that the budgetary effects of this Act shall not be taken into account under the Statutory Pay-As-You-Go Act of 2010. Title II: Pathway to Job Creation Through a Simpler, Fairer Tax Code Act - Pathway to Job Creation through a Simpler, Fairer Tax Code Act of 2012 -

(Sec. 202)

States that the purpose of this Act is to provide for the enactment of comprehensive tax reform in 2013 that:
(1) protects taxpayers by creating a fairer, simpler, flatter tax code;
(2) is comprehensive;
(3) results in tax revenue consistent with historical norms;
(4) spurs greater investment, innovation and job creation; and
(5) makes American workers and businesses more competitive.

(Sec. 203)

Defines a "tax reform bill" for purposes of this Act as a bill to be introduced by the chair of the House Committee on Ways and Means not later than April 30, 2013, that is certified by the chair of the Joint Committee on Taxation as containing proposals to:
(1) consolidate the 6 current individual income tax brackets into a maximum of 2 brackets (of 10% and not higher than 25%),
(2) reduce the corporate income tax rate to not more than 25%,
(3) repeal the alternative minimum tax (AMT),
(4) broaden the tax base so that tax revenues comprise between 18% and 19% of Gross Domestic Product (GDP), and
(5) reform the current system of foreign taxation. Provides for the expedited consideration of such bill in the House of Representatives and the Senate.

...Read the Rest

Organizations Supporting H.R.8

  • American Action Network
  • Americans for Tax Reform
  • Cost of Government Center
  • Heritage Action for America
  • Mason Contractors Association of America
  • National Federation of Independent Business
  • ...and 3 more. See all.

Organizations Opposing H.R.8

  • Half in Ten
  • Log Cabin Republicans
  • Moms Rising
  • National Women's Law Center
  • The Leadership Conference on Civil and Human Rights


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