3.0.0 4260 2019-11-15T21:46:49Z 2019-11-15T21:46:49Z House H HR 2012-03-26 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. CLARKE of New York:H.R. 4260.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1 of the Constitution[Page H1571]]]> hswm00 Ways and Means Committee House Standing Referred to 2012-03-26T16:00:31Z 2012-03-26 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2012-03-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2012-03-26 Introduced in House IntroReferral 1000 9 Library of Congress C001067 Rep. Clarke, Yvette D. [D-NY-11] Yvette Clarke D NY D. 11 N Taxation Capital gains tax Income tax credits Income tax deductions Income tax rates Tax treatment of families Transfer and inheritance taxes Wages and earnings Taxation 00 2012-03-26 Introduced in House 2012-05-09T22:07:38Z Adjusting for Income Disparity Act of 2012 - Amends the Internal Revenue Code to allow an individual taxpayer a new tax credit to compensate for income disparity. Sets the amount of such credit at the applicable credit amount ($2,500 to $5,000) reduced by a specified percentage (3 1/3% to 6 2/3%) of the excess of the taxpayer's modified adjusted gross income over a specified threshold ($15,000 to $30,000), based on the number of the taxpayer's dependents.

Accelerates to December 31, 2011 (currently, December 31, 2012), the termination date for the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) and the provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) providing for a reduction in capital gain and dividend tax rates.

]]> Adjusting for Income Disparity Act of 2012 Short Titles as Introduced Adjusting for Income Disparity Act of 2012 Display Title Adjusting for Income Disparity Act of 2012 Official Title as Introduced To amend the Internal Revenue Code of 1986 to allow an income disparity tax credit. Introduced in House 2012-03-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr4260ih/xml/BILLS-112hr4260ih.xml 2012-03-26 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.