II 

Calendar No. 457 

112TH CONGRESS 

2D SESSION S. 3393 

To amend the Internal Revenue Code of 1986 to provide tax relief to middleclass families. 

IN THE SENATE OF THE UNITED STATES 

JULY 17, 2012 

Mr. REID introduced the following bill; which was read the first time 

JULY 18, 2012 

Read the second time and placed on the calendar 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

tax relief to middle-class families. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE; ETC. 

4 (a) SHORT TITLE.—This Act may be cited as the 

5 ‘‘Middle Class Tax Cut Act’’. 

6 (b) AMENDMENT OF 1986 CODE.—Except as other7 wise expressly provided, whenever in this Act an amend8 ment or repeal is expressed in terms of an amendment 


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1 to, or repeal of, a section or other provision, the reference 

2 shall be considered to be made to a section or other provi3 sion of the Internal Revenue Code of 1986. 

4 (c) TABLE OF CONTENTS.—The table of contents of 

5 this Act is as follows: 

Sec. 1. Short title; etc. 

TITLE I—TEMPORARY EXTENSION OF TAX RELIEF 

Sec. 101. Temporary extension of 2001 tax relief. 

Sec. 102. Temporary extension of 2003 tax relief. 

Sec. 103. Temporary extension of 2010 tax relief. 

Sec. 104. Temporary extension of election to expense certain depreciable business assets. 

TITLE II—ESTATE TAX RELIEF 

Sec. 201. Modifications to estate, gift, and generation-skipping transfer taxes. 

TITLE III—ALTERNATIVE MINIMUM TAX RELIEF 

Sec. 301. Temporary extension of increased alternative minimum tax exemption 

amount. 

Sec. 302. Temporary extension of alternative minimum tax relief for nonrefundable personal credits. 

TITLE IV—BUDGETARY EFFECTS 

Sec. 401. Budgetary effects. 

6 TITLE I—TEMPORARY 

7 EXTENSION OF TAX RELIEF 

8 SEC. 101. TEMPORARY EXTENSION OF 2001 TAX RELIEF. 

9 (a) TEMPORARY EXTENSION.— 

10 (1) IN GENERAL.—Section 901 of the Economic 

11 Growth and Tax Relief Reconciliation Act of 2001 is 

12 amended by striking ‘‘December 31, 2012’’ both 

13 places it appears and inserting ‘‘December 31, 

14 2013’’. 


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1 (2) EFFECTIVE DATE.—The amendment made 

2 by this subsection shall take effect as if included in 

3 the enactment of the Economic Growth and Tax Re4 lief Reconciliation Act of 2001. 

5 (b) APPLICATION TO CERTAIN HIGH-INCOME TAX6 PAYERS.— 

7 (1) INCOME TAX RATES.— 

8 (A) TREATMENT OF 25- AND 28-PERCENT

9 RATE BRACKETS.—Paragraph (2) of section 

10 1(i) is amended to read as follows: 

11 ‘‘(2) 25- AND 28-PERCENT RATE BRACKETS.— 

12 The tables under subsections (a), (b), (c), (d), and 

13 (e) shall be applied— 

14 ‘‘(A) by substituting ‘25%’ for ‘28%’ each 

15 place it appears (before the application of sub16 paragraph (B)), and 

17 ‘‘(B) by substituting ‘28%’ for ‘31%’ each 

18 place it appears.’’. 

19 (B) 33-PERCENT RATE BRACKET.—Sub20 section (i) of section 1 is amended by redesig21 nating paragraph (3) as paragraph (4) and by 

22 inserting after paragraph (2) the following new 

23 paragraph: 

24 ‘‘(3) 33-PERCENT RATE BRACKET.— 


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1 ‘‘(A) IN GENERAL.—In the case of taxable 

2 years beginning after December 31, 2012— 

3 ‘‘(i) the rate of tax under subsections 

4 (a), (b), (c), and (d) on a taxpayer’s tax5 able income in the fourth rate bracket shall 

6 be 33 percent to the extent such income 

7 does not exceed an amount equal to the ex8 cess of— 

9 ‘‘(I) the applicable amount, over 

10 ‘‘(II) the dollar amount at which 

11 such bracket begins, and 

12 ‘‘(ii) the 36 percent rate of tax under 

13 such subsections shall apply only to the 

14 taxpayer’s taxable income in such bracket 

15 in excess of the amount to which clause (i) 

16 applies. 

17 ‘‘(B) APPLICABLE AMOUNT.—For purposes 

18 of this paragraph, the term ‘applicable amount’ 

19 means the excess of— 

20 ‘‘(i) the applicable threshold, over 

21 ‘‘(ii) the sum of the following amounts 

22 in effect for the taxable year: 

23 ‘‘(I) the basic standard deduction 

24 (within the meaning of section 

25 63(c)(2)), and 


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1 ‘‘(II) the exemption amount 

2 (within the meaning of section 

3 151(d)(1) (or, in the case of sub4 section (a), 2 such exemption 

5 amounts). 

6 ‘‘(C) APPLICABLE THRESHOLD.—For pur7 poses of this paragraph, the term ‘applicable 

8 threshold’ means— 

9 ‘‘(i) $250,000 in the case of sub10 section (a), 

11 ‘‘(ii) $225,000 in the case of sub12 section (b), 

13 ‘‘(iii) $200,000 in the case of sub14 sections (c), and 

‘‘(iv) 1 15 ⁄2 the amount applicable under 

16 clause (i) (after adjustment, if any, under 

17 subparagraph (E)) in the case of sub18 section (d). 

19 ‘‘(D) FOURTH RATE BRACKET.—For pur20 poses of this paragraph, the term ‘fourth rate 

21 bracket’ means the bracket which would (deter22 mined without regard to this paragraph) be the 

23 36-percent rate bracket. 

24 ‘‘(E) INFLATION ADJUSTMENT.—For pur25 poses of this paragraph, with respect to taxable 


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1 years beginning in calendar years after 2012, 

2 each of the dollar amounts under clauses (i), 

3 (ii), and (iii) of subparagraph (C) shall be ad4 justed in the same manner as under paragraph 

5 (1)(C), except that subsection (f)(3)(B) shall be 

6 applied by substituting ‘2008’ for ‘1992’.’’. 

7 (2) PHASEOUT OF PERSONAL EXEMPTIONS AND

8 ITEMIZED DEDUCTIONS.— 

9 (A) OVERALL LIMITATION ON ITEMIZED

10 DEDUCTIONS.—Section 68 is amended— 

11 (i) by striking ‘‘the applicable 

12 amount’’ the first place it appears in sub13 section (a) and inserting ‘‘the applicable 

14 threshold in effect under section 1(i)(3)’’, 

15 (ii) by striking ‘‘the applicable 

16 amount’’ in subsection (a)(1) and inserting 

17 ‘‘such applicable threshold’’, 

18 (iii) by striking subsection (b) and re19 designating subsections (c), (d), and (e) as 

20 subsections (b), (c), and (d), respectively, 

21 and 

22 (iv) by striking subsections (f) and 

23 (g). 

24 (B) PHASEOUT OF DEDUCTIONS FOR PER25 SONAL EXEMPTIONS.— 


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1 (i) IN GENERAL.—Paragraph (3) of 

2 section 151(d) is amended— 

3 (I) by striking ‘‘the threshold 

4 amount’’ in subparagraphs (A) and 

5 (B) and inserting ‘‘the applicable 

6 threshold in effect under section 

7 1(i)(3)’’, 

8 (II) by striking subparagraph (C) 

9 and redesignating subparagraph (D) 

10 as subparagraph (C), and 

11 (III) by striking subparagraphs 

12 (E) and (F). 

13 (ii) CONFORMING AMENDMENTS.— 

14 Paragraph (4) of section 151(d) is amend15 ed— 

16 (I) by striking subparagraph (B), 

17 (II) by redesignating clauses (i) 

18 and (ii) of subparagraph (A) as sub19 paragraphs (A) and (B), respectively, 

20 and by indenting such subparagraphs 

21 (as so redesignated) accordingly, and 

22 (III) by striking all that precedes 

23 ‘‘in a calendar year after 1989,’’ and 

24 inserting the following: 


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1 ‘‘(4) INFLATION ADJUSTMENT.—In the case of 

2 any taxable year beginning’’. 

3 (c) EFFECTIVE DATE.—Except as otherwise pro4 vided, the amendments made by this section shall apply 

5 to taxable years beginning after December 31, 2012. 

6 (d) APPLICATION OF EGTRRA SUNSET.—Each 

7 amendment made by subsection (b) shall be subject to title 

8 IX of the Economic Growth and Tax Relief Reconciliation 

9 Act of 2001 to the same extent and in the same manner 

10 as if such amendment was included in title I of such Act. 

11 SEC. 102. TEMPORARY EXTENSION OF 2003 TAX RELIEF. 

12 (a) EXTENSION.— 

13 (1) IN GENERAL.—Section 303 of the Jobs and 

14 Growth Tax Relief Reconciliation Act of 2003 is 

15 amended by striking ‘‘December 31, 2012’’ and in16 serting ‘‘December 31, 2013’’. 

17 (2) EFFECTIVE DATE.—The amendment made 

18 by this subsection shall take effect as if included in 

19 the enactment of the Jobs and Growth Tax Relief 

20 Reconciliation Act of 2003. 

21 (b) 20-PERCENT CAPITAL GAINS RATE FOR CERTAIN

22 HIGH INCOME INDIVIDUALS.— 

23 (1) IN GENERAL.—Paragraph (1) of section 

24 1(h) is amended by striking subparagraph (C), by 

25 redesignating subparagraphs (D) and (E) as subVerDate Mar 15 2010 00:19 Jul 19, 2012 Jkt 099200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\S3393.PCS S3393

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1 paragraphs (E) and (F) and by inserting after sub2 paragraph (B) the following new subparagraphs: 

3 ‘‘(C) 15 percent of the lesser of— 

4 ‘‘(i) so much of the adjusted net cap5 ital gain (or, if less, taxable income) as ex6 ceeds the amount on which a tax is deter7 mined under subparagraph (B), or 

8 ‘‘(ii) the excess (if any) of— 

9 ‘‘(I) the amount of taxable in10 come which would (without regard to 

11 this paragraph) be taxed at a rate 

12 below 36 percent, over 

13 ‘‘(II) the sum of the amounts on 

14 which a tax is determined under sub15 paragraphs (A) and (B), 

16 ‘‘(D) 20 percent of the adjusted net capital 

17 gain (or, if less, taxable income) in excess of the 

18 sum of the amounts on which tax is determined 

19 under subparagraphs (B) and (C),’’. 

20 (2) MINIMUM TAX.—Paragraph (3) of section 

21 55(b) is amended by striking subparagraph (C), by 

22 redesignating subparagraph (D) as subparagraph 

23 (E), and by inserting after subparagraph (B) the 

24 following new subparagraphs: 

25 ‘‘(C) 15 percent of the lesser of— 


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1 ‘‘(i) so much of the adjusted net cap2 ital gain (or, if less, taxable excess) as ex3 ceeds the amount on which tax is deter4 mined under subparagraph (B), or 

5 ‘‘(ii) the excess described in section 

6 1(h)(1)(C)(ii), plus 

7 ‘‘(D) 20 percent of the adjusted net capital 

8 gain (or, if less, taxable excess) in excess of the 

9 sum of the amounts on which tax is determined 

10 under subparagraphs (B) and (C), plus’’. 

11 (c) CONFORMING AMENDMENTS.— 

12 (1) The following provisions are each amended 

13 by striking ‘‘15 percent’’ and inserting ‘‘20 per14 cent’’: 

15 (A) Section 531. 

16 (B) Section 541. 

17 (C) Section 1445(e)(1). 

18 (D) The second sentence of section 

19 7518(g)(6)(A). 

20 (E) Section 53511(f)(2) of title 46, United 

21 States Code. 

22 (2) Sections 1(h)(1)(B) and 55(b)(3)(B) are 

23 each amended by striking ‘‘5 percent (0 percent in 

24 the case of taxable years beginning after 2007)’’ and 

25 inserting ‘‘0 percent’’. 


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1 (3) Section 1445(e)(6) is amended by striking 

2 ‘‘15 percent (20 percent in the case of taxable years 

3 beginning after December 31, 2010)’’ and inserting 

4 ‘‘20 percent’’. 

5 (d) EFFECTIVE DATES.— 

6 (1) IN GENERAL.—Except as otherwise pro7 vided, the amendments made by subsections (b) and 

8 (c) shall apply to taxable years beginning after De9 cember 31, 2012. 

10 (2) WITHHOLDING.—The amendments made by 

11 paragraphs (1)(C) and (3) of subsection (c) shall 

12 apply to amounts paid on or after January 1, 2013. 

13 (e) APPLICATION OF JGTRRA SUNSET.—Each 

14 amendment made by subsections (b) and (c) shall be sub15 ject to section 303 of the Jobs and Growth Tax Relief 

16 Reconciliation Act of 2003 to the same extent and in the 

17 same manner as if such amendment was included in title 

18 III of such Act. 

19 SEC. 103. TEMPORARY EXTENSION OF 2010 TAX RELIEF. 

20 (a) AMERICAN OPPORTUNITY TAX CREDIT.— 

21 (1) IN GENERAL.—Section 25A(i) is amended 

22 by striking ‘‘or 2012’’ and inserting ‘‘2012, or 

23 2013’’. 

24 (2) TREATMENT OF POSSESSIONS.—Section 

25 1004(c)(1) of division B of the American Recovery 


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1 and Reinvestment Tax Act of 2009 is amended by 

2 striking ‘‘and 2012’’ each place it appears and in3 serting ‘‘2012, and 2013’’. 

4 (b) CHILD TAX CREDIT.—Section 24(d)(4) is amend5 ed— 

6 (1) by striking ‘‘AND 2012’’ in the heading and 

7 inserting ‘‘2012, AND 2013’’, and 

8 (2) by striking ‘‘or 2012’’ and inserting ‘‘2012, 

9 or 2013’’. 

10 (c) EARNED INCOME TAX CREDIT.—Section 32(b)(3) 

11 is amended— 

12 (1) by striking ‘‘AND 2012’’ in the heading and 

13 inserting ‘‘2012, AND 2013’’, and 

14 (2) by striking ‘‘or 2012’’ and inserting ‘‘2012, 

15 or 2013’’. 

16 (d) TEMPORARY EXTENSION OF RULE DIS17 REGARDING REFUNDS IN THE ADMINISTRATION OF FED18 ERAL PROGRAMS AND FEDERALLY ASSISTED PRO19 GRAMS.—Subsection (b) of section 6409 is amended by 

20 striking ‘‘December 31, 2012’’ and inserting ‘‘December 

21 31, 2013’’. 

22 (e) EFFECTIVE DATES.— 

23 (1) IN GENERAL.—Except as provided in para24 graph (2), the amendments made by this section 


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1 shall apply to taxable years beginning after Decem2 ber 31, 2012. 

3 (2) RULE DISREGARDING REFUNDS IN THE AD4 MINISTRATION OF CERTAIN PROGRAMS.—The 

5 amendment made by subsection (d) shall apply to 

6 amounts received after December 31, 2012. 

7 SEC. 104. TEMPORARY EXTENSION OF ELECTION TO EX8 PENSE CERTAIN DEPRECIABLE BUSINESS AS9 SETS. 

10 (a) IN GENERAL.— 

11 (1) DOLLAR LIMITATION.—Section 179(b)(1) is 

12 amended— 

13 (A) by striking ‘‘and’’ at the end of sub14 paragraph (C), 

15 (B) by redesignating subparagraph (D) as 

16 subparagraph (E), 

17 (C) by inserting after subparagraph (C) 

18 the following new subparagraph: 

19 ‘‘(D) $250,000 in the case of taxable years 

20 beginning in 2013, and’’, and 

21 (D) in subparagraph (E), as so redesig22 nated, by striking ‘‘2012’’ and inserting 

23 ‘‘2013’’. 

24 (2) REDUCTION IN LIMITATION.—Section 

25 179(b)(2) is amended— 


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1 (A) by striking ‘‘and’’ at the end of sub2 paragraph (C), 

3 (B) by redesignating subparagraph (D) as 

4 subparagraph (E), 

5 (C) by inserting after subparagraph (C) 

6 the following new subparagraph: 

7 ‘‘(D) $800,000 in the case of taxable years 

8 beginning in 2013, and’’, and 

9 (D) in subparagraph (E), as so redesig10 nated, by striking ‘‘2012’’ and inserting 

11 ‘‘2013’’. 

12 (b) COMPUTER SOFTWARE.—Section 

13 179(d)(1)(A)(ii) is amended by striking ‘‘2013’’ and in14 serting ‘‘2014’’. 

15 (c) ELECTION.—Section 179(c)(2) is amended by 

16 striking ‘‘2013’’ and inserting ‘‘2014’’. 

17 (d) EFFECTIVE DATE.—The amendments made by 

18 this section shall apply to taxable years beginning after 

19 December 31, 2012. 

20 TITLE II—ESTATE TAX RELIEF 

21 SEC. 201. MODIFICATIONS TO ESTATE, GIFT, AND GENERA22 TION-SKIPPING TRANSFER TAXES. 

23 (a) MODIFICATIONS TO ESTATE TAX.— 

24 (1) EXCLUSION AMOUNT.—Paragraph (3) of 

25 section 2010(c) is amended to read as follows: 


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1 ‘‘(3) BASIC EXCLUSION AMOUNT.—For pur2 poses of this section, the basic exclusion amount is 

3 $3,500,000.’’. 

4 (2) MAXIMUM ESTATE TAX RATE.—The table in 

5 subsection (c) of section 2001 is amended by strik6 ing ‘‘Over $500,000’’ and all that follows and insert7 ing the following: 

‘‘Over $500,000 but not over 

$750,000.

$155,800, plus 37 percent of the excess of such amount over 

$500,000. 

Over $750,000 but not over 

$1,000,000.

$248,300, plus 39 percent of the excess of such amount over 

$750,000. 

Over $1,000,000 but not over 

$1,250,000.

$345,800, plus 41 percent of the excess of such amount over 

$1,000,000. 

Over $1,250,000 but not over 

$1,500,000.

$448,300, plus 43 percent of the excess of such amount over 

$1,250,000. 

Over $1,500,000 ............................ $555,800, plus 45 percent of the excess of such amount over 

$1,500,000.’’. 

8 (b) MODIFICATIONS OF ESTATE AND GIFT TAXES TO

9 REFLECT DIFFERENCES IN CREDIT RESULTING FROM

10 DIFFERENT TAX RATES AND EXCLUSION AMOUNTS.— 

11 (1) CHANGING TAX RATES.—Notwithstanding 

12 section 304 of the Tax Relief, Unemployment Insur13 ance Reauthorization, and Job Creation Act of 

14 2010, section 901 of the Economic Growth and Tax 

15 Relief Reconciliation Act of 2001 shall not apply to 

16 the amendments made by section 302(d) of the Tax 

17 Relief, Unemployment Insurance Reauthorization, 

18 and Job Creation Act of 2010. 


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1 (2) DECREASING EXCLUSIONS.— 

2 (A) ESTATE TAX ADJUSTMENT.—Section 

3 2001 is amended by adding at the end the fol4 lowing new subsection: 

5 ‘‘(h) ADJUSTMENT TO REFLECT CHANGES IN EX6 CLUSION AMOUNT.— 

7 ‘‘(1) IN GENERAL.—If, with respect to any gift 

8 to which subsection (b)(2) applies, the applicable ex9 clusion amount in effect at the time of the dece10 dent’s death is less than such amount in effect at 

11 the time such gift is made by the decedent, the 

12 amount of tax computed under subsection (b) shall 

13 be reduced by the amount of tax which would have 

14 been payable under chapter 12 at the time of the 

15 gift if the applicable exclusion amount in effect at 

16 such time had been the applicable exclusion amount 

17 in effect at the time of the decedent’s death and the 

18 modifications described in subsection (g) had been 

19 applicable at the time of such gifts. 

20 ‘‘(2) LIMITATION.—The aggregate amount of 

21 gifts made in any calendar year to which the reduc22 tion under paragraph (1) applies shall not exceed 

23 the excess of— 

24 ‘‘(A) the applicable exclusion amount in ef25 fect for such calendar year, over 


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1 ‘‘(B) the applicable exclusion amount in ef2 fect at the time of the decedent’s death. 

3 ‘‘(3) APPLICABLE EXCLUSION AMOUNT.—The 

4 term ‘applicable exclusion amount’ means, with re5 spect to any period, the amount determined under 

6 section 2010(c) for such period, except that in the 

7 case of any period for which such amount includes 

8 the deceased spousal unused exclusion amount (as 

9 defined in section 2010(c)(4)), such term shall mean 

10 the basic exclusion amount (as defined under section 

11 2010(c)(3), as in effect for such period).’’. 

12 (B) GIFT TAX ADJUSTMENT.—Section 

13 2502 is amended by adding at the end the fol14 lowing new subsection: 

15 ‘‘(d) ADJUSTMENT TO REFLECT CHANGES IN EX16 CLUSION AMOUNT.— 

17 ‘‘(1) IN GENERAL.—If the taxpayer made a tax18 able gift in an applicable preceding calendar period, 

19 the amount of tax computed under subsection (a) 

20 shall be reduced by the amount of tax which would 

21 have been payable under chapter 12 for such appli22 cable preceding calendar period if the applicable ex23 clusion amount in effect for such preceding calendar 

24 period had been the applicable exclusion amount in 

25 effect for the calendar year for which the tax is 


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1 being computed and the modifications described in 

2 subsection (g) had been applicable for such pre3 ceding calendar period. 

4 ‘‘(2) LIMITATION.—The aggregate amount of 

5 gifts made in any applicable preceding calendar pe6 riod to which the reduction under paragraph (1) ap7 plies shall not exceed the excess of— 

8 ‘‘(A) the applicable exclusion amount for 

9 such preceding calendar period, over 

10 ‘‘(B) the applicable exclusion amount for 

11 the calendar year for which the tax is being 

12 computed. 

13 ‘‘(3) APPLICABLE PRECEDING CALENDAR YEAR

14 PERIOD.—The term ‘applicable preceding calendar 

15 year period’ means any preceding calendar year pe16 riod in which the applicable exclusion amount ex17 ceeded the applicable exclusion amount for the cal18 endar year for which the tax is being computed. 

19 ‘‘(4) APPLICABLE EXCLUSION AMOUNT.—The 

20 term ‘applicable exclusion amount’ means, with re21 spect to any period, the amount determined under 

22 section 2010(c) for such period, except that in the 

23 case of any period for which such amount includes 

24 the deceased spousal unused exclusion amount (as 

25 defined in section 2010(c)(4)), such term shall mean 


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1 the basic exclusion amount (as defined under section 

2 2010(c)(3), as in effect for such period).’’. 

3 (c) EFFECTIVE DATE.—The amendments made by 

4 this section shall apply to estates of decedents dying, and 

5 generation-skipping transfers and gifts made, after De6 cember 31, 2012. 

7 (d) APPLICATION OF EGTRRA SUNSET.—Section 

8 901 of the Economic Growth and Tax Relief Reconcili9 ation Act shall apply to the amendments made by sub10 section (a). 

11 TITLE III—ALTERNATIVE 

12 MINIMUM TAX RELIEF 

13 SEC. 301. TEMPORARY EXTENSION OF INCREASED ALTER14 NATIVE MINIMUM TAX EXEMPTION AMOUNT. 

15 (a) IN GENERAL.—Paragraph (1) of section 55(d) is 

16 amended— 

17 (1) by striking ‘‘$72,450’’ and all that follows 

18 through ‘‘2011’’ in subparagraph (A) and inserting 

19 ‘‘$78,750 in the case of taxable years beginning in 

20 2012’’, and 

21 (2) by striking ‘‘$47,450’’ and all that follows 

22 through ‘‘2011’’ in subparagraph (B) and inserting 

23 ‘‘$50,600 in the case of taxable years beginning in 

24 2012’’. 


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1 (b) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to taxable years beginning after 

3 December 31, 2011. 

4 SEC. 302. TEMPORARY EXTENSION OF ALTERNATIVE MIN5 IMUM TAX RELIEF FOR NONREFUNDABLE 

6 PERSONAL CREDITS. 

7 (a) IN GENERAL.—Paragraph (2) of section 26(a) is 

8 amended— 

9 (1) by striking ‘‘or 2011’’ and inserting ‘‘2011, 

10 or 2012’’, and 

11 (2) by striking ‘‘2011’’ in the heading thereof 

12 and inserting ‘‘2012’’. 

13 (b) EFFECTIVE DATE.—The amendments made by 

14 this section shall apply to taxable years beginning after 

15 December 31, 2011. 

16 TITLE IV—BUDGETARY EFFECTS 

17 SEC. 401. BUDGETARY EFFECTS. 

18 (a) PAYGO SCORECARD.—The budgetary effects of 

19 this Act shall not be entered on either PAYGO scorecard 

20 maintained pursuant to section 4(d) of the Statutory Pay21 As-You-Go Act of 2010. 

22 (b) SENATE PAYGO SCORECARD.—The budgetary 

23 effects of this Act shall not be entered on any PAYGO 

24 scorecard maintained for purposes of section 201 of S. 

25 Con. Res. 21 (110th Congress). 


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Calendar No. 457 

112TH CONGRESS 

2D SESSION S. 3393 

A BILL 

To amend the Internal Revenue Code of 1986 to 

provide tax relief to middle-class families. 

JULY 18, 2012 

Read the second time and placed on the calendar 


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