I 
112TH CONGRESS 
2D SESSION 
H. R. 6675 
To direct the Secretary of Commerce to establish a program under which 
preloaded debit cards are made available for the purchase of certain 
goods and services. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 18, 2012 
Mr. ANDREWS introduced the following bill; which was referred to the Com-
mittee on Ways and Means, and in addition to the Committee on Armed 
Services, for a period to be subsequently determined by the Speaker, in 
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned 
A BILL 
To direct the Secretary of Commerce to establish a program 
under which preloaded debit cards are made available 
for the purchase of certain goods and services. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Economic Stimulus, 
Tax Credit Act of 2012’’. 
SEC. 2. DEBIT CARD STIMULUS PROGRAM. 
(a) IN GENERAL.—The Secretary of Commerce, in 
consultation with the Secretary of the Treasury, shall es-
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tablish a debit card stimulus program, under which the 
Secretary of Commerce shall issue pre-loaded debit cards 
to eligible taxpayers. 
(b) AMOUNT ON DEBIT CARD.—The amount loaded 
on a debit card pursuant to subsection (a) shall be the 
sum of— 
(1)(A) $5,000 in the case of an eligible tax-
payer who filed a joint return for the first taxable 
year beginning in 2011, and 
(B) $3,000 in the case of an eligible taxpayer 
who filed an individual return of income tax for the 
first taxable year beginning in 2011, plus 
(2) $500 only in the case of an eligible taxpayer 
who uses the debit card to acquire an automobile 
subject to subsection (f)(5). 
(c) ELIGIBILITY.— 
(1) A taxpayer is eligible if the taxpayer is a 
citizen of the United States and the gross income of 
the taxpayer for taxable year 2011 does not exceed 
the applicable limit. 
(2)(A) For taxpayers filing a joint income tax 
return the applicable limit is the sum of $75,000, 
plus the phaseout amount. 
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(B) For taxpayers filing an individual tax re-
turn the applicable limit is the sum of $50,000, plus 
the phaseout amount. 
(d) PHASEOUT AMOUNT.—The phaseout amount 
shall be $4,999 less 20% of that amount for each thou-
sand dollars in gross income above the eligible gross in-
come amounts of $75,000 and $50,000 respectively, re-
sulting in no eligibility at income levels of $80,000 and 
$55,000 respectively. 
(e) GROSS INCOME.—The term ‘‘gross income’’ has 
the meaning given such term by Section 61 of the Internal 
Revenue Code of 1986. 
(f) DEBIT CARD STIMULUS PROGRAM.—For pur-
poses of this section, the debit card stimulus program es-
tablished under subsection (a) is a program which shall 
be subject to the following terms and conditions: 
(1) The debit card is active for a 6-month pe-
riod. Any amount remaining on the debit card at the 
end of the 6-month period is forfeited. 
(2) The debit card ceases to be active when the 
balance on the card is zero. 
(3) An active debit card is issued to the eligible 
taxpayer. In the case of a joint return, an active 
debit card is issued to the taxpayer and a debit card 
is issued to the spouse of the taxpayer, with the 
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total dollar amount preloaded on both cards jointly 
equaling the $5,000/$5,500 limit. 
(4) The debit card may be used for the fol-
lowing types of purchases: 
(A) Durable goods. 
(B) Clothes. 
(C) Services (other than medical services 
and business-related legal services) performed 
within the United States. 
(D) Residential home mortgage payments 
where the debtor is at least three months in ar-
rears, as of the effective date of this Act. This 
shall be limited by regulation to a specific por-
tion of the funds provided under this Act. 
(5) A debit card may only be used for the ac-
quisition of a passenger automobile if— 
(A) the original use of the automobile be-
gins with the taxpayer, 
(B) the acquisition is by way of an 18- 
month renewable (at the lessee’s option) lease, 
and 
(C) the automobile was manufactured in 
the United States by a manufacturer if the 
headquarters of the parent of the manufacturer 
(as of December 31, 2008) is either— 
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(i) located in the United States, or 
(ii) located in a country which the 
Secretary of Commerce has certified has 
opened its markets to all automobiles man-
ufactured in the United States. 
For purposes of this paragraph, the term ‘‘passenger 
automobile’’ has the meaning given such term by 
section 32901(a)(18) of title 49, United States 
Code. 
(6) The debit card may not be used for any 
purchase of a good or service, or the acquisition of 
a passenger automobile under a lease, if the cost of 
such good, service, or lease is greater than the 
amount provided under the debit card stimulus pro-
gram. 
(7) Not more than one-third of the amount on 
the debit card may be expended within any 2-month 
period unless the expenditure is for the acquisition 
of a single good, service, or lease. 
(8) Acquisitions after the effective date of the 
debit card stimulus program (but prior to its imple-
mentation) shall be reimbursable under the program, 
as follows: 
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(A) The sales receipt relating to the acqui-
sition shall be presented to the merchant who 
provided the goods or services. 
(B) The merchant would place those acqui-
sitions on the debit card once the program is 
fully implemented. 
(9) The program shall be subject to such other 
terms and conditions as the Secretary of Commerce 
shall specify by regulations. 
(g) ELIGIBLE TAXPAYERS.—For purposes of this sec-
tion— 
(1) IN GENERAL.—A taxpayer is an eligible tax-
payer if the taxpayer is a citizen of the United 
States. 
(2) DEPENDENTS
NOT
ELIGIBLE.—An indi-
vidual with respect to whom a deduction under sec-
tion 151 is allowable to another taxpayer for the 
most recent taxable year for which a return is re-
quired (but for any threshold amount) to be filed 
shall not be treated as an eligible taxpayer for pur-
poses of this section. 
(3) SPECIAL RULE RELATING TO PRISONERS.— 
An individual may not use a debit card issued pursu-
ant to this section during any period of incarceration 
in a Federal, State, or local prison. 
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(h) EMPLOYEE RETENTION TAX CREDIT.— 
(1) IN GENERAL.—There shall be allowed to the 
employer of any qualified retained employee a credit 
against the tax imposed by chapter 1 of the Internal 
Revenue Code of 1986 in the amount of the em-
ployee retention credit. 
(2) EMPLOYEE RETENTION CREDIT.— 
(A) IN GENERAL.—For purposes of para-
graph (1), the employee retention credit for the 
taxable year of the employer which includes the 
last day of the employee retention period is an 
amount equal to the excess (if any) of— 
(i) $3,000 multiplied by the number 
of qualified retained employees, less 
(ii) $3,000 multiplied by the number 
of specified dismissed employees. 
(B) INCREASE IN CREDIT AMOUNT.—The 
$3,000 amount in subparagraph (A)(i) shall be 
increased to the highest level that the Secretary 
of the Treasury determines would not cause the 
aggregate amount of the credits allowed by 
paragraph (1) to be a revenue loss to the 
Treasury. For purposes of this subparagraph, 
the determination shall be based on— 
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(i) the amount of Federal income tax 
withheld from each qualified retained em-
ployee during the period of employment 
under the program and the employee re-
tention period, and 
(ii) all unemployment benefits which 
that employee would have continued to re-
ceive during the period of employment 
under the program and the employee re-
tention period had that employee not been 
employed. 
(3) QUALIFIED
RETAINED
EMPLOYEE.—For 
purposes of paragraph (1), an employee is a quali-
fied retained employee if the employee— 
(A) whose hiring date with the employer is 
after the beginning of the debit card stimulus 
program and who first begins work before the 
end of the program, and 
(B) who, without a break in service, per-
forms services in the United States for the em-
ployer for the employee retention period. 
(4) EMPLOYEE RETENTION PERIOD.—For pur-
poses of this subsection, the employee retention pe-
riod is the 6-month period beginning on the day 
after the end of the debit card stimulus program. 
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(5) SPECIFIED
DISMISSED
EMPLOYEE.—For 
purposes of paragraph (1), an employee is a speci-
fied dismissed employee of an employer if— 
(A) the employee was performing services 
in the United States for the employer before the 
beginning of the debit card stimulus program, 
and 
(B) the employee was separated from serv-
ice during the 12-month period beginning on 
the first day of the program. 
(6) EMPLOYEE.—For purposes of this sub-
section, an employee shall not be taken into account 
for purposes of this subsection unless the employee 
typically performs not less than 35 hours of service 
(or the equivalent thereof) for the employer. For 
purposes of the preceding sentence, the term ‘‘hour 
of service’’ means a time of service determined under 
regulations prescribed by the Secretary of Labor. 
(7) BUSINESS
CREDIT.—The credit allowed 
under paragraph (1) shall be treated as a business 
credit allowed under subpart D of part IV of sub-
chapter A of chapter 1 of the Internal Revenue Code 
of 1986. 
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(i) REGULATIONS.—The Secretary of the Treasury or 
the Secretary’s delegate shall issue such regulations as 
may be necessary to carry out this Act. 
SEC. 3. APPROPRIATIONS. 
(a) EXCESS FUNDS FROM OPERATION ENDURING 
FREEDOM.—Funds made available to the Department of 
Defense for Overseas Contingency Operations that are in 
excess of the amounts required by the Department for Op-
eration Enduring Freedom because of the redeployment 
of members of the Armed Forces of the United States 
from Afghanistan are hereby made available to carry out 
this Act. 
(b) REPATRIATION
OF FOREIGN EARNINGS.—The 
amount equal to the taxes received in the Treasury of the 
United States pursuant to any provision of law enacted 
pursuant to an Act of Congress enacted after the date of 
the enactment of this Act which provides for a reduced 
tax rate on profits held outside the United States by do-
mestic corporations upon the return of such funds to the 
United States. 
Æ 
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