3.0.0 3393 2019-02-20T23:40:48Z 2019-02-24T05:58:57Z Senate S S 2012-07-17 112 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 Sensible Estate Tax Relief Act of 2012 112 16 HR 2012-07-30 Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. 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 and Small Business Tax Relief Act of 2012 112 6262 HR 2012-08-01 Referred to the House Committee on Ways and Means. 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 2012-07-18 Senate Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 457. Calendars 2012-07-17 Senate Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time. (text of measure as introduced: CR S5087-5089) Calendars 2012-07-17 Introduced in Senate IntroReferral 10000 9 Library of Congress R000146 Sen. Reid, Harry [D-NV] HARRY REID D NV M. N Taxation Business investment and capital Capital gains tax Computers and information technology Income tax credits Income tax deductions Income tax rates Poverty and welfare assistance Student aid and college costs Tax administration and collection, taxpayers Tax treatment of families Transfer and inheritance taxes Wages and earnings Taxation 00 2012-07-17 Introduced in Senate 2012-07-23T19:46:23Z Middle Class Tax Cut Act - Extends through 2013 for a taxpayer whose income is $200,000 or less ($250,000 for married couples filing jointly): (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 rate for dividend and capital gain income enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Increases income tax rates and phases-out personal exemptions and itemized deductions for certain high-income taxpayers.

Amends the Internal Revenue Code to extend through 2013: (1) the increased American Opportunity tax credit, (2) the increase in the refundable portion of the child tax credit, (3) the increased earned income tax credit percentage for three or more qualifying children, (4) the disregard of tax refunds in determining eligibility for federal and federally-assisted programs, and (5) the election to expense depreciable business assets.

Modifies estate tax provisions to establish: (1) an estate tax exclusion of $3.5 million, and (2) a maximum 45% estate tax rate.

Extends for one year: (1) the increased exemption amount for the alternative minimum tax (AMT), and (2) the offset against the AMT of certain nonrefundable personal tax credits.

Provides that the budgetary effects of this Act shall not be taken into account under the Statutory Pay-As-You-Go Act of 2010.

]]> Middle Class Tax Cut Act Short Titles as Introduced Middle Class Tax Cut Act Display Title Middle Class Tax Cut Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide tax relief to middle-class families. Placed on Calendar Senate 2012-07-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s3393pcs/xml/BILLS-112s3393pcs.xml 2012-07-18 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 457. 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.