3.0.0 6225 2019-02-20T22:38:36Z 2019-02-23T23:35:30Z House H HR 2012-07-26 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. WALBERG:H.R. 6225.Congress has the power to enact this legislation pursuantto the following:Clause 1 of Section 8 of Article I of the United StatesConstitution and Amendment XVI of the United StatesConstitution.[Page H5328]]]> hswm00 Ways and Means Committee House Standing Referred to 2012-07-26T13:01:15Z 2012-07-26 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2012-07-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2012-07-26 Introduced in House IntroReferral 1000 9 Library of Congress W000798 Rep. Walberg, Tim [R-MI-7] Tim Walberg R MI 7 N Taxation Business investment and capital Capital gains tax General taxation matters Higher education Income tax credits Income tax deductions Income tax exclusion Income tax rates Inflation and prices Interest, dividends, interest rates Marriage and family status Small business State and local taxation Student aid and college costs Taxation of foreign income Transfer and inheritance taxes Taxation 00 2012-07-26 Introduced in House 2012-09-07T13:50:47Z Makes permanent: (1) the Economic Growth and Tax Relief Reconciliation Act of 2001, and (2) provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 that reduce tax rates on dividend and capital gain income.

Amends the Internal Revenue Code to make permanent: (1) the tax deduction for tuition and related expenses, and (2) the increased expensing allowance for small business assets.

Repeals the estate tax and the tax on generation-skipping transfers. Modifies tax gift tax rates and allows an increased lifetime gift tax exemption.

Extends for one year the increased exemption from the alternative minimum tax (AMT) for individual taxpayers and the offset against the AMT for certain nonrefundable personal tax credits.

Provides for an inflation adjustment to the basis of certain assets held for more than three years for purposes of determining gain or loss from the disposition of such assets.

]]> To amend the Internal Revenue Code of 1986 to provide for economic growth and personal financial liberty, and for other purposes. Display Title To amend the Internal Revenue Code of 1986 to provide for economic growth and personal financial liberty, and for other purposes. Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide for economic growth and personal financial liberty, and for other purposes. Introduced in House 2012-07-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr6225ih/xml/BILLS-112hr6225ih.xml 2012-07-26 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.