jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-03-02 00:00:00

Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Secretary of the Treasury); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations; (4) increase the period for Internal Revenue Service (IRS) review of tax returns involving offshore secrecy jurisdictions; (5) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions; (6) disallow tax advisor opinions validating transactions in offshore secrecy jurisdictions; (7) subject dividend equivalents and substitute dividends to the 30% tax on foreign income; and (8) impose reporting requirements for transactions involving a passive foreign investment company.Amends the Securities Exchange Act of 1934 and other federal enactments to impose a penalty for failure to disclose holdings or transactions involving a foreign entity.Requires the Secretary of the Treasury to publish a final rule requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs, and to submit suspicious activity reports.Modifies requirements for certain third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (John Doe summons).Increases penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability.Prohibits the patenting of tax planning inventions.Prohibits tax advisor contingent fee agreements for obtaining tax savings or benefits.Allows increased disclosure of tax information for enforcement purposes.Directs the Secretary to impose standards for written tax opinions by tax practitioners.Denies tax deductions for certain fines and penalties for violations of law and for interest paid on certain understatements of tax.Sets forth rules for the application of the economic substance doctrine and imposes penalties for underpayments of tax due to transactions lacking economic substance.
Topic: Macroeconomics — Tax Code
Subject: Economics and public finance
Date: 2009-03-04 00:00:00

Congressional Accountability and Line-Item Veto Act of 2009 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to propose the repeal of any congressional earmark or the cancellation (line item veto) of any limited tariff benefit or targeted tax benefit. Sets forth requirements for the President's transmittal to Congress of a special message regarding a proposed repeal or cancellation. Dedicates any repeal or cancellation only to deficit reduction or increase of a surplus. Provides for adjustment of: (1) committee allocations resulting from such rescission; and (2) applicable limits, as appropriate, under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Sets forth procedures for expedited congressional consideration of a proposed rescission. Expresses the sense of Congress that no President or any executive branch official should condition the inclusion or exclusion, or threaten to condition the inclusion or exclusion, of any proposed repeal or cancellation in any special message under this Act upon any vote cast or to be cast by any Member of either chamber.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-03-09 00:00:00

Amends the Internal Revenue Code to exempt from the harbor maintenance tax commercial cargo (other than bulk cargo) loaded at: (1) a port in the U.S. mainland and unloaded at another such port after transport solely by coastal route or river or unloaded at a port in Canada located in the Great Lakes Saint Lawrence Seaway System; or (2) such a port in Canada and unloaded at a port in the U.S. mainland. Defines the "Great Lakes Saint Lawrence Seaway System" as the waterway between Duluth, Minnesota, and Sept Iles, Quebec, encompassing the five Great Lakes, their connecting channels, and the Saint Lawrence River.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-03-11 00:00:00

Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 for provisions reducing individual tax rates on capital gains and dividend income.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-03-19 00:00:00

Compensation Fairness Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on excessive bonuses paid by federal emergency economic assistance recipients to their employees (including directors or officers). Sets the overall rate of such tax at 70% of the amount of such bonuses, 35% payable by federal emergency economic assistance recipients and 35% payable by the employees of such recipients. Exempts bonus recipients who repay bonus amounts to the federal government. Defines "excessive bonus" as any retention bonus or other bonus that exceeds $50,000 paid by a federal emergency economic assistance recipient after December 31, 2008. Defines "federal emergency economic assistance recipient" as: (1) an entity and its affiliates to which the federal government has paid an aggregate of more than $100 million of assistance and in which the federal government has acquired an equity interest under a program authorized by the Emergency Economic Stabilization Act of 2008 or the Federal Reserve Act; and (2) the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Limits to $1 million the amount of compensation which a participant in a nonqualified deferred compensation plan maintained by a federal emergency economic assistance recipient may defer in any 12-month period.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-03-24 00:00:00

Amends the Internal Revenue Code to exempt from income taxation a newspaper corporation or organization if: (1) it publishes on a regular basis a newspaper for general circulation; (2) its newspaper contains local, national, and international news stories of interest to the general public and the distribution of such newspaper is necessary or valuable in achieving an educational purpose; and (3) the preparation of the material contained in such newspaper follows a methodology generally accepted as educational. Exempts the advertising income of a tax-exempt newspaper corporation or organization from taxation as unrelated business income and allows a charitable tax deduction for contributions to such newspaper corporation or organization.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-03-24 00:00:00

Amends the Internal Revenue Code to: (1) reduce from 2 to 1.32% the excise tax rate on the net investment income of tax-exempt private foundations; and (2) repeal the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-03-26 00:00:00

Equity for Our Nation's Self Employed Act of 2009 - Amends the Internal Revenue Code to allow self-employed individuals to deduct health insurance costs in computing the tax on self-employment income.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-03-30 00:00:00

Amends the Internal Revenue Code to: (1) extend the first-time homebuyer tax credit to all purchasers of a principal residence; (2) increase the maximum amount of such credit from $8,000 to $15,000; and (3) repeal the reduction in such credit for taxpayers whose modified adjusted gross income exceeds $75,000 ($150,000 in the case of married couples filing jointly).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-03-30 00:00:00

Flat Tax Act of 2009- Replaces the income tax with a flat tax of 20 percent of taxable earned income of individual taxpayers. Defines "taxable earned income" as the excess of earned income (wages, salaries, professional fees) over a standard deduction, a deduction for cash charitable contributions, and a deduction for home mortgage interest. Sets forth definitions and special rules for surviving spouses, heads of household, and dependents. Imposes a flat tax of 20 percent on business taxable income. Defines "business taxable income" as gross active income (other than investment income) reduced by: (1) the cost of business inputs (cost of specified goods, services, travel, and entertainment expenditures); (2) employee compensation; and (3) the cost of personal and real property used in business activities. Disallows a deduction from gross active business income for purchases of goods and services provided to employees or owners and certain lobbying and political expenditures. Repeals: (1) estate, gift, and generation-skipping transfer taxes; (2) financing of presidential election campaigns provisions; and (3) coal industry health benefits provisions.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-04-01 00:00:00

Amends the Internal Revenue Code to: (1) allow a waiver of the penalty for failure to disclose reportable transactions (i.e., transactions which have a potential for tax avoidance or evasion) if such failure is due to reasonable cause and not due to willful neglect; (2) revise the amount of the penalty for such failure; and (3) limit the imposition of such penalty to the taxpayer (currently, any person). Reaffirms the authority of the Commissioner of Internal Revenue to rescind all or any portion of the penalty for failure to furnish information regarding reportable transactions.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-04-02 00:00:00

Rural Heritage Conservation Extension Act of 2009 - Amends the Internal Revenue Code to make permanent the tax deduction for charitable contributions by individuals and corporations of real property interests for conservation purposes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-04-02 00:00:00

Legal Services Benefit Act of 2009 - Amends the Internal Revenue Code to restore, increase, and make permanent the exclusion from gross income for amounts received under qualified group legal services plans.
Topic: Macroeconomics — Tax Code
Subject: Economics and public finance
Date: 2009-04-20 00:00:00

Requires the Secretary of the Treasury to use any agency, department, or authorized but completed program appropriations remaining at the end of a fiscal year to pay down the federal debt. Requires a department or agency to report to the committees of jurisdiction in both chambers and the congressional budget committees on how the money was saved, and possibilities for future savings in that program.
Topic: Macroeconomics — Tax Code
Subject: Finance and financial sector
Date: 2009-04-20 00:00:00

Amends the Emergency Economic Stabilization Act of 2008 (EESA) to grant subpoena power to the Congressional Oversight Panel (which reviews the current state of the financial markets and the regulatory system) to require the attendance and testimony of witnesses and the production of books, records, correspondence, memoranda, papers, documents, tapes, and materials.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-04-22 00:00:00

Public Good IRA Rollover Act of 2009 - Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for certain charitable purposes.
Topic: Macroeconomics — Tax Code
Subject: Finance and financial sector
Date: 2009-04-28 00:00:00

Amends the Emergency Economic Stabilization Act of 2008 (EESA) to direct the Secretary of the Treasury to provide to the Special Inspector General of the Troubled Asset Relief Program (TARP), the Comptroller General, and the Congressional Oversight Panel ongoing, continuous, and close to real-time updates of the status of the use of funds distributed under EESA, including with respect to procurement contracts, through a standardized electronic database that combines all of the necessary information from existing public and private sources to track the status of the funds distributed under the Act. Requires the Secretary also to: (1) compare the data in such database with any other data for any activities that are inconsistent with EESA purposes; and (2) collect from all federal agencies any regulatory filings, data generated by the use of internal models, financial models, and analytics associated with the financial assistance on at least a daily basis in order to help the Secretary to determine the effectiveness of TARP in stimulating prudent lending and strengthening bank capital. Directs the Secretary, if TARP goals are not being met, to work with the federal agencies supplying the information to have them provide the recipients with recommendations for better meeting such goals. Requires the Secretary, furthermore, to adjust the future uses of TARP assistance if such goals are not met even following such recommendations.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-04-29 00:00:00

Amends the Internal Revenue Code to classify equipment that produces electricity from marine and hydrokinetic renewable energy as five-year property for depreciation purposes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-04-30 00:00:00

Simplified, Manageable, And Responsible Tax Act or the SMART Act - Amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 17% on individual taxable income. Redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. Increases the basic standard deduction and includes an additional standard deduction for dependents. Includes in taxable income the taxable income of each dependent child under the age of 14. Replaces the current tax on corporations with a tax on every person engaged in a business activity equal to 17% of the business taxable income of such person. Makes the person engaged in the business activity liable for the tax, whether or not such person is an individual, a partnership, or a corporation. Imposes a tax of 17% on the value of excludable compensation provided during the year by an employer for the benefit of employees. Makes the employer liable for the tax. Repeals pension plan rules relating to : (1) non-discrimination; (2) contribution limits; and (3) restrictions on distributions. Revises rules relating to transfers of excess pension assets. Repeals: (1) the alternative minimum tax; (2) all income tax credits; (3) estate, gift, and generation-skipping transfer taxes; and (4) income tax provisions, except certain provisions relating to retirement distributions and tax-exempt organizations. Declares it not in order in the House of Representatives or the Senate, unless waived or suspended by a three-fifths vote, to consider any legislation that increases or adds an income tax rate, reduces the standard deduction, or provides any exclusion, deduction, credit, or other benefit that reduces federal revenues.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-05-04 00:00:00

Optional One Page Flat Tax Act - Amends the Internal Revenue Code to authorize an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing tax provisions) of 19% for the first two years after an election is made, and 17% thereafter. Calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each dependent from the total of wages, retirement distributions, and unemployment compensation. Defines "business taxable income" to mean gross active income reduced by the cost of certain business inputs. Imposes an employer tax on the value of excludable compensation provided to employees not engaged in business activity of 19% for the first two years after an election is made under this Act and 17% thereafter. Repeals the estate, gift, and generation-skipping transfer taxes. Requires a two-thirds vote of the House of Representatives or the Senate to increase the flat tax rate proposed by this Act or to reduce the amount of the standard deduction or business-related deductions allowed by this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-05-05 00:00:00

Amends the Internal Revenue Code to increase the limit on the deductibility of losses from the sale or exchange of capital assets for individual taxpayers to $10,000, adjusted for inflation after 2009 (50% of such amount for married individuals filing a separate tax return).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-05-06 00:00:00

Savings for Working Families Act of 2009 - Allows certain low-income individuals between age 18 and 61 to establish tax-exempt individual development accounts (IDAs) to pay for certain qualified expenses, including education expenses, first-time homebuyer costs, and business capitalization or expansion costs. Sets forth rules for the establishment, maintenance, and termination of IDAs. Permits tax-free withdrawals from IDAs for qualified expenses, but requires IDA beneficiaries to complete one or more financial education courses prior to making an IDA withdrawal. Allows certain financial institutions, tax-exempt organizations, and Indian tribes to sponsor and administer IDAs. Amends the Internal Revenue Code to allow such entities a business-related tax credit for the cost of administering IDAs and for making matching contributions to IDAs in parallel accounts. Provides that IDA amounts shall be disregarded for purposes of determining eligibility for assistance under certain means-tested federal programs.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-05-07 00:00:00

Family Tax Relief Act of 2009 - Amends the Internal Revenue Code to: (1) allow an additional refundable tax credit for expenses for household and dependent care services necessary for gainful employment; and (2) increase the dollar limitation on the tax exclusion for employed-provided dependent care assistance payments.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-05-14 00:00:00

Amends the Internal Revenue Code to extend through December 31, 2018, the income tax credit for biodiesel used as fuel and the excise credits for biodiesel mixtures and biodiesel used to produce biodiesel mixtures.
Topic: Macroeconomics — Tax Code
Subject: Economics and public finance
Date: 2009-05-14 00:00:00

Securing America's Future Economy Commission Act or SAFE Commission Act - Establishes the Securing America's Future Economy (SAFE) Commission to develop legislation designed to address: (1) the unsustainable imbalance between long-term federal spending commitments and projected revenues; (2) increases in net national savings to provide for domestic investment and economic growth; (3) the implications of foreign ownership of federally issued debt instruments; and (4) revision of the budget process to place greater emphasis on long-term fiscal issues. Requires the Commission to: (1) hold at least one town-hall style public hearing within each federal reserve district; and (2) develop one or two methods for estimating the cost of legislation as a supplement to the estimates and assumptions provided by the Congressional Budget Office (CBO). Requires the Commission to submit a legislative proposal to Congress and the President that relies on such estimates and assumptions. Sets forth procedures for consideration of such legislation. Requires CBO to prepare a long-term cost estimate and have it published in the Congressional Record as expeditiously as possible whenever requested to do so by the Commission, the President, or the chairman or ranking minority member of the Committee on the Budget of either chamber.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-05-14 00:00:00

Brewers Excise and Economic Relief Act of 2009 - Amends the Internal Revenue Code to: (1) reduce from $18 to $9 (the pre-1991 level) the per-barrel tax on beer; and (2) allow a further reduction in such tax for brewers who produce not more than 2 million barrels annually.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-05-20 00:00:00

Generate Retirement Ownership Through Long-Term Holding Act of 2009 - Amends the Internal Revenue Code to provide that no gain shall be recognized on the receipt of a capital gain dividend distributed by a regulated investment company if such dividend is automatically reinvested in additional shares of the company pursuant to a dividend reinvestment plan.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-05-20 00:00:00

Renewable Energy Parity and Investment Remedy Act or REPAIR Act - Amends the Internal Revenue Code to eliminate after 2010 the reduction in the rate of the tax credit for electricity produced from open-loop biomass, small irrigation power, landfill gas, trash combustion, and hydropower facilities (thus allowing the same credit rate for all renewable resource facilities).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-05-21 00:00:00

Amends the Internal Revenue Code to require the Secretary of the Treasury to notify a taxpayer of: (1) any unauthorized use of such taxpayer's identity (suspected identity theft) the Secretary uncovers during an investigation of false or fraudulent statements or tax returns; and (2) any person criminally charged under such investigation. Requires such notification to be given to the taxpayer as soon as practicable and without jeopardizing a tax fraud investigation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-06-11 00:00:00

Home Lead Safety Tax Credit Act of 2009 - Amends the Internal Revenue Code to allow a tax credit for 50 percent of the costs of reducing lead hazards in U.S. homes built before 1960 in which certain low-income children less than six years of age and women of child-bearing age reside. Allows a maximum credit of $3,000 for lead abatement costs and $1,000 for the cost of interim lead control measures.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-06-22 00:00:00

Good Samaritan Hunger Relief Tax Incentive Extension Act of 2009 - Amends the Internal Revenue Code to: (1) modify the tax deduction for charitable contributions of food inventory by limiting the reduction in such deduction to the amount by which the fair market valuation of the contributed food exceeds twice the basis of such food; and (2) make such deduction permanent.
Topic: Macroeconomics — Tax Code
Subject: Economics and public finance
Date: 2009-06-23 00:00:00

Want Not, Waste Not Act - Rescinds any amounts rejected by the governor of a state or a local government from amounts apportioned to that state under Public Law 111-5 (American Recovery and Reinvestment Act of 2009). Declares that the purpose of this Act is to ensure that such rejected stimulus funding is returned to the U.S. Treasury to reduce the national debt to be inherited by future generations.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2009-06-24 00:00:00

Close the SILO/LILO Loophole Act of 2009 - Amends the Internal Revenue Code to: (1) impose a 100% excise tax on any income or benefits received from a SILO (sale-in/lease-out) or LILO (lease-in/lease-out) transaction involving a financial institution and a public entity; and (2) deny a tax deduction for attorney fees or other costs incurred by a party to a SILO or LILO transaction seeking to enforce the terms of such transaction.