Implementation of Simpson-Bowles Spending Reductions Act of 2012

Bill: 112-hr-6474
Sponsor: Rep. Ross, Dennis A. [R-FL-12]
Introduced: 2012-09-20 in the House
Policy area: Economics and Public Finance
Subjects: Accounting and auditing
Adoption and foster care
Adult day care
Agricultural prices, subsidies, credit
Air quality
Alternative and renewable resources
Appropriations
Aviation and airports
Building construction
Capital gains tax
Child care and development
Coal
Congressional operations and organization
Congressional oversight
Corporate finance and management
Disability and paralysis
Educational facilities and institutions
Electric power generation and transmission
Emergency medical services and trauma care
Employee benefits and pensions
Employee hiring
Endangered and threatened species
Energy efficiency and conservation
Environmental technology
Executive Office of the President
Executive agency funding and structure
Fires
First responders and emergency personnel
Forests, forestry, trees
Government buildings, facilities, and property
Government employee pay, benefits, personnel management
Government information and archives
Health care costs and insurance
Health facilities and institutions
Health personnel
Higher education
House of Representatives
Hybrid, electric, and advanced technology vehicles
Income tax credits
Income tax deductions
Income tax exclusion
Income tax rates
Indian social and development programs
Industrial facilities
Inflation and prices
Insurance industry and regulation
Interest, dividends, interest rates
Land transfers
Legislative rules and procedure
Life, casualty, property insurance
Low- and moderate-income housing
Members of Congress
Motor carriers
Motor fuels
Motor vehicles
Navigation, waterways, harbors
Oil and gas
Poverty and welfare assistance
Public utilities and utility rates
Railroads
Real estate business
Research and development
Residential rehabilitation and home repair
Securities
Senate
Small business
Social work, volunteer service, charitable organizations
Solid waste and recycling
State and local taxation
Student aid and college costs
Tariffs
Tax treatment of families
Taxation of foreign income
Teaching, teachers, curricula
Television and film
Transportation costs
Water quality
Wildlife conservation and habitat protection

Summary:
action_date: 2012-09-20
text: 
Implementation of Simpson-Bowles Spending Reductions Act of 2012 - Prohibits the total amount of appropriations to the White House for the Executive Office of the President, to the President, and to Congress for FY2012-FY2016 from exceeding 85% of the total amount of such appropriations for FY2011. Eliminates cost-of-living adjustments (COLA) for Members of Congress during FY2013-FY2015.
 
Amends the Continuing Appropriations Act, 2011 to extend through December 31, 2015, the freeze on any COLA to the pay of certain federal civilian employees (thus extending such freeze from two to five calendar years). 
 
Requires the Office of Management and Budget (OMB) to: (1) take appropriate measures to ensure that the total number of federal employees, beginning in FY2015, does not exceed 90% of the total number of federal employees on September 30, 2011; (2) continuously monitor all agencies, make a determination on whether the total number of federal employees in any quarter of a fiscal year exceeds the maximum number allowed by this Act, and notify the President and Congress if the number exceeds the maximum; and (3) ensure that there is no increase in the procurement of service contracts due to this Act unless a cost comparison demonstrates that such contracts would be financially advantageous to the federal government. Allows the President to waive the workforce limitations imposed by this Act in specified circumstances. 
 
Requires OMB to: (1) take appropriate measures through FY2014 to ensure that agencies shall appoint no more than one employee for every three employees retiring or otherwise separating from government service; (2) coordinate with federal departments and independent agencies to take certain steps to limit government printing costs; and (3) dispose of a quantity of real property worth at least $100 million altogether (with specified exceptions) that is not being used, and that will not be used, to meet the needs of the federal government for FY2011-FY2015.
 
Prohibits the total amount of funds appropriated for travel expenses for each agency for each of FY2012-FY2016 from exceeding 80% of the total amount of funds appropriated for FY2011. Reduces the amount available to the General Services Administration (GSA) for FY2012 and succeeding fiscal years for acquiring new vehicles for the federal fleet to 80% of the amount available for FY2010 for such purpose.
 
Amends the Congressional Budget Act of 1974 to prohibit consideration in Congress of legislation that includes an earmark, limited tax benefit, or limited tariff benefit. 
 
Amends the Internal Revenue Code to: (1) impose after 2012, a 10% income tax rate on taxable income of $100,000 or less and a 20% rate on taxable income over $100,000, and a 20% rate for net capital gain exceeding $1 million; (2) reduce the income tax rate on corporations to a flat rate of 20%; (3) repeal various tax credits, deductions, and exclusions, including the alternative minimum tax (AMT) on individuals; (4) provide for 5-year phaseout of specified tax expenditures, and (5) terminate the authority for issuing certain tax-exempt bonds for financing projects relating to energy conservation, infrastructure, education, and hospital construction. 


Legislative actions:
action_date: 2012-09-20
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Oversight and Government Reform, House Administration, Rules, and 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.
action_date: 2012-09-20
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Oversight and Government Reform, House Administration, Rules, and 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.
action_date: 2012-09-20
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Oversight and Government Reform, House Administration, Rules, and 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.
action_date: 2012-09-20
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Oversight and Government Reform, House Administration, Rules, and 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.
action_date: 2012-09-20
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Oversight and Government Reform, House Administration, Rules, and 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.
action_date: 2012-09-20
text: Introduced in House
action_date: 2012-09-20
text: Introduced in House