3.0.0 6262 2019-11-15T21:47:02Z 2019-11-15T21:47:02Z House H HR 2012-08-01 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LOEBSACK:H.R. 6262.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 H5630]]]> hswm00 Ways and Means Committee House Standing Referred to 2012-08-01T14:05:10Z Middle Class Tax Cut Act 112 15 HR 2012-12-04 Motion to Discharge Committee filed by Mr. Walz (MN). Petition No: 112-6. (<a href="http://clerk.house.gov/112/lrc/pd/petitions/DisPet0006.xml">Discharge petition</a> text with signatures.) Related bill CRS Fair and Impartial Reform Tax Act of 2011 112 2710 HR 2011-07-29 Referred to the House Committee on Ways and Means. Related bill CRS Middle Class Tax Cut Protection Act of 2012 112 6100 HR 2012-07-11 Referred to the House Committee on Ways and Means. Related bill CRS Working Families Tax Protection Act of 2012 112 6104 HR 2012-07-11 Referred to the House Committee on Ways and Means. Related bill CRS Middle Class Tax Cut Act 112 3393 S 2012-07-18 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 457. Related bill CRS Middle Class Tax Cut Act 112 3412 S 2012-07-25 Passed Senate without amendment by Yea-Nay Vote. 51 - 48. Record Vote Number: 184. (text: CR S5355-5356) Related bill CRS 2012-08-01 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2012-08-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2012-08-01 Introduced in House IntroReferral 1000 9 Library of Congress L000565 Rep. Loebsack, David [D-IA-2] David Loebsack D IA 2 N B000652 Rep. Boswell, Leonard L. [D-IA-3] LEONARD BOSWELL D IA L. 3 2012-08-01 True G000559 Rep. Garamendi, John [D-CA-10] John Garamendi D CA 10 2012-08-01 True H001062 Rep. Hochul, Kathleen C. [D-NY-26] Kathleen Hochul D NY C. 26 2012-08-02 False Taxation Higher education Income tax credits Income tax deductions Income tax exclusion Income tax rates Poverty and welfare assistance Small business Student aid and college costs Tax treatment of families Transfer and inheritance taxes Taxation 00 2012-08-01 Introduced in House 2012-11-01T21:38:10Z Middle Class and Small Business Tax Relief Act of 2012 - Makes provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) permanent for taxpayers whose adjusted gross incomes do not exceed a specified base amount (i.e., $200,000 for individual taxpayers and $250,000 for married couples filing jointly). Revises income tax rates to increase to 39.6% the maximum income tax rate for taxpayers whose incomes exceed the base amount.

Makes provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 that reduce the tax rate on dividend and capital gains income for taxpayers whose incomes do not exceed the base amount permanent. Increases to 20% the tax rate on dividend and capital gains income for taxpayers whose incomes are  above the base amount.

Amends the Internal Revenue Code to extend for an additional year: (1) the increased Hope Scholarship tax credit (designated as the American Opportunity Tax Credit), (2) the increase in the refundable portion of the child tax credit, (3) the increased percentage of the earned income tax credit for taxpayers with three or more qualifying children, (4) the disregard of tax refunds for purposes of determining eligibility for certain means tested federal programs, (5) the increased exemption from the alternative minimum tax (AMT) for individual taxpayers, and (6) the offset against the AMT for certain nonrefundable personal tax credits.

Extends until December 31, 2013, the estate, gift, and generation-skipping transfer provisions of EGTRRA.

]]> Middle Class and Small Business Tax Relief Act of 2012 Short Titles as Introduced Middle Class and Small Business Tax Relief Act of 2012 Display Title Middle Class and Small Business Tax Relief Act of 2012 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide tax relief to middle-class families, small businesses, and family farms. Introduced in House 2012-08-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr6262ih/xml/BILLS-112hr6262ih.xml 2012-08-01 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.