3.0.0 3714 2019-11-15T21:52:20Z 2019-11-15T21:52:20Z Senate S S 2012-12-30 112 ssfi00 Finance Committee Senate Standing Referred to 2012-12-30T23:07:18Z 2012-12-30 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2012-12-30 Sponsor introductory remarks on measure. (CR S8548-8549) IntroReferral B00100 9 Library of Congress 2012-12-30 Introduced in Senate IntroReferral 10000 9 Library of Congress M001183 Sen. Manchin, Joe, III [D-WV] Joseph Manchin D WV N Taxation Budget deficits and national debt Budget process Capital gains tax Congressional oversight Income tax rates Interest, dividends, interest rates Legislative rules and procedure Medicare Tax reform and tax simplification Transfer and inheritance taxes Taxation 00 2012-12-30 Introduced in Senate 2013-01-15T20:38:30Z Cliff Alleviation at Last Minute Act or the CALM Act - Amends the Internal Revenue Code to: (1) provide for a phased increase in income and capital gain tax rates beginning in 2013 through 2015, and (2) establish a permanent maximum estate tax rate of 45% and a unified estate and gift tax credit of $3.5 million.

Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to authorize the Office of Management and Budget (OMB) to determine which defense and nondefense accounts will be reduced in FY2013-FY2021 to meet deficit reduction requirements and to report to Congress on its recommendations. Sets forth a congressional disapproval procedure for overriding OMB's recommendations.

Amends title XVIII (Medicare) of the Social Security Act to require the Secretary of Health and Human Services to implement reforms under Medicare that result in reduced expenditures equal to $40 billion in each of FY2014-FY2023.

Expresses the sense of the Senate that Congress should address comprehensive tax reform in the 113th Congress.

]]> CALM Act Short Titles as Introduced CALM Act Short Titles as Introduced Cliff Alleviation at Last Minute Act Display Title CALM Act Official Title as Introduced A bill to alleviate the fiscal cliff, and for other purposes. Introduced in Senate 2012-12-30T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s3714is/xml/BILLS-112s3714is.xml 2012-12-30 Read twice and referred to the Committee on Finance. 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.