jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2013-10-30 00:00:00

Family Fairness and Opportunity Tax Reform Act - Amends the Internal Revenue Code, with respect to the taxation of individual and married taxpayers, to:

 reduce to two the number of individual income tax brackets, imposing a 15% tax rate on income up to $87,850 ($175,700 for married couples filing a joint return and surviving spouses) and a 35% rate on income above such level; eliminate or reduce the capital gains tax rate based on taxable income levels; repeal after 2013 the alternative minimum tax (AMT) for individual and corporate taxpayers; increase from $1,000 to $2,500 the child tax credit and make a portion of such credit refundable; allow a new personal income tax credit of $2,000 for individual taxpayers ($4,000 for married couples filing a joint return and surviving spouses) in lieu of the standard tax deduction, the personal tax exemption, and certain itemized deductions, other than the deductions for mortgage interest and charitable contributions; provide annual inflation adjustments after 2013 to income levels and credit amounts in this Act; make mortgage interest and charitable contributions deductible from gross income (above-the-line deductions); limit to $300,000 the deductible amount of acquisition indebtedness for principal residences (currently, $1 million); repeal the additional hospital insurance tax on individual taxpayers earning over $200,000 ($250,000 for married couples filing joint tax returns); and repeal the 3.8% Medicare tax on certain unearned income (e.g., income from rents, royalties, stocks, bonds, and other investments).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2013-11-05 00:00:00

Government Settlement Transparency and Reform Act - Amends the Internal Revenue Code to expand provisions relating to the nondeductibility of fines and penalties, to prohibit a tax deduction for any amount paid or incurred to any governmental entity relating to the violation of any law or the investigation or inquiry into a potential violation of law. Exempts from such prohibition: (1) restitution or amounts paid to come into compliance with any law that was violated or otherwise involved in the investigation or inquiry, (2) amounts paid pursuant to a court order in a suit in which the governmental entity was not a party, and (3) amounts paid or incurred as taxes due. Imposes new reporting requirements on governmental entities relating to amounts paid as fines or for restitution.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2013-11-21 00:00:00

Public Good IRA Rollover Act of 2013 - Amends the Internal Revenue Code to revise the tax exclusion of distributions from individual retirement accounts (IRAs) for charitable purposes to: (1) make such exclusion permanent; (2) eliminate the $100,000 cap on such exclusion; (3) permit tax-free distributions from IRAs to a split-interest entity (i.e., a charitable remainder annuity or unitrust, a pooled income fund, and a charitable gift annuity); and (4) allow distributions to a split-interest entity to be made when the account beneficiary attains age 59-1/2 (otherwise, age 70-1/2 for IRA distributions to a charitable organization).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2013-12-18 00:00:00

Amends the Internal Revenue Code to reduce from 10 to 5 years the period during which the built-in gains of an S corporation are subject to tax and to make such reduction permanent.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2014-01-07 00:00:00

Manufacturing Communities Investment Act - Amends the Internal Revenue Code, with respect to the new markets tax credit, to: (1) increase to $5 billion and extend through 2016 the national limitation amount for such credit, and (2) allow an additional $1 billion allocation of such credit in 2014, 2015, and 2016, for a qualified community development entity only if a significant mission of such entity is providing investments and services to manufacturing businesses in communities that have suffered major manufacturing job losses or a major job loss event.
Topic: Macroeconomics — Tax Code
Subject: Public lands and natural resources
Date: 2014-01-13 00:00:00

Makes permanent the Payment in Lieu of Taxes (PILT) Program (under which counties or other eligible units of local government in which U.S.-owned entitlement land is located are entitled to certain payments under such program which may be used for any governmental purpose).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2014-03-26 00:00:00

21st Century Worker Tax Cut Act - Amends the Internal Revenue Code to: (1) allow married taxpayers with at least one qualifying child under the age of 12 an income-based tax deduction equal to 20% of the lesser of $60,000 or the earned income of the spouse with the lower amount of earned income; (2) increase the amount of the earned income tax credit for taxpayers with no qualifying children; (3) increase the penalty for tax return preparers who fail to comply with due diligence requirements for determining eligibility for the earned income tax credit; (4) extend the limitation on the tax deduction for employee remuneration to current or former officers, directors, or employees of a publicly-held corporation; and (5) include in subpart F income (income of controlled foreign corporations the tax on which may not be deferred) low-taxed cross-border income (gross income of a controlled foreign corporation except income that was derived in the home country of such corporation or was subject to an effective rate of income tax imposed by a foreign country in excess of 15%).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2014-03-27 00:00:00

Distillery Excise Tax Reform Act of 2014 - Amends the Internal Revenue Code to reduce the rate of the excise tax on distilled spirits to $2.70 per proof gallon (currently, $13.50 per proof gallon) on the first 100,000 gallons produced by a distilled spirits producer during the calendar year.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2014-05-01 00:00:00

Energy Freedom and Economic Prosperity Act of 2014 - Amends the Internal Revenue Code to repeal tax credits for: (1) alcohol fuel, biodiesel, and alternative fuel mixtures; (2) alternative motor vehicles; (3) new qualified plug-in electric drive motor vehicles; (4) alcohol used as fuel; (5) enhanced oil recovery; (6) producing oil and gas from marginal wells; (7) producing electricity from advanced nuclear power facilities; (8) carbon dioxide sequestration; (9) investment in energy property; and (10) investment in qualifying advanced coal projects, qualifying gasification projects, and qualifying advanced energy projects.

Directs the Secretary of the Treasury to revise the income tax rates for corporations based upon the overall revenue savings from the repeal of the energy tax expenditures by this Act and ensure that each revised rate is reduced by a uniform percentage.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2014-06-19 00:00:00

Angel Tax Credit Act - Amends the Internal Revenue Code to allow a new business-related tax credit for 25% of equity investments of $25,000 or more in a domestic corporation or partnership that: (1) has its headquarters in the United States, (2) has gross revenues for the taxable year of less than $1 million, (3) employs fewer than 25 full-time employees, (4) has been in existence for less than 7 years as of the date of the investment, (5) has more than 50% of its employees performing substantially all of their services in the United States, and (6) is engaged in a high technology trade or business. Limits the allowable amount of such credit to $250,000 in any taxable year and imposes an overall limitation on such credit of $500 million for each of calendar years 2013 through 2017.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2014-07-24 00:00:00

Amends the Internal Revenue Code, with respect to the exclusion of payments made from an accident or health plan funded by a state entity from gross income for income tax purposes, to: (1) include payments made to an employee or to a spouse, dependent, or child of an employee; and (2) extend reimbursement of health care expenses under such a plan to any beneficiary of a deceased plan participant other than a surviving spouse, dependent, or child.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2014-07-31 00:00:00

Amends the Internet Tax Freedom Act to extend until December 31, 2014: (1) the ban on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce, and (2) the grandfather provisions allowing states that imposed and enforced laws imposing a tax on internet access prior to October 1, 1998, to continue enforcing such laws.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2014-09-18 00:00:00

Responsible Estate Tax Act - Amends the Internal Revenue Code, with respect to estate, gift, and generation-skipping transfer taxes, to: (1) revise estate tax rates to impose an increased tax for estates over $3.5 million and a maximum tax rate of 55% for estates over $50 million; (2) impose a 10% surtax on estates over $500 million; (3) reduce the basic estate tax exclusion amount from $5 million to $3.5 million; (4) increase to $3 million the reduction in valuations of farmland for estate tax purposes and adjust such increased amount for inflation after 2014; and (5) increase to $2 million the maximum estate tax exclusion for contributions of conservation easements.

Requires that the value of the basis in any property acquired from a decedent or by gift be consistent with the basis as determined for estate and gift tax purposes. Requires executors of estates and donors of gifts required to file a gift tax return to disclose to the Secretary of the Treasury, and to recipients of any interest in an estate or a gift, information identifying the value of each interest received.

Sets forth estate valuation rules for certain transfers of nonbusiness assets and limits estate tax discounts for certain individuals with minority interests in a business acquired from a decedent.

Expands rules for valuing assets in grantor retained annuity trusts to require that: (1) the right to receive fixed amounts from an annuity last for a term of not less than 10 years and that such fixed amounts not decrease during the first 10 years of the annuity term, and (2) the remainder interest have a value greater than 10% when transferred.

Sets forth rules for the application of transfer taxes to a grantor trust (a trust in which the grantor retains control over the trust assets and has the right to receive income from the trust).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2014-12-11 00:00:00

Progressive Consumption Tax Act of 2014 - Amends the Internal Revenue Code to impose a consumption tax of 10% of the taxable amount of domestic goods and services. Exempts from such tax certain goods and services exported or used outside the United States.

Lowers individual and corporate income tax rates. Repeals specified income tax credits and deductions, except for the deductions for mortgage interest, charitable contributions, state and local income taxes, gambling losses, alimony payments, and investment interest.

Provides for a family allowance of up to $100,000 for married individuals filing a joint tax return.

Allows a rebate for U.S. taxpayers consisting of an earned income amount and a child benefit amount.

Provides for a refund of excess consumption tax revenue (net consumption tax revenues that exceed 10% of gross domestic product in a calendar year) to individual taxpayers.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-06 00:00:00

FairTax Act of 2015

This bill is a tax reform proposal that imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income and corporate income tax, employment and self-employment taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2017, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property, for property or services purchased for business, export, or investment purposes, and for state government functions.

Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines.

The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury.

Tax revenues are to be allocated among: (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund.

No funding is allowed for the operations of the Internal Revenue Service after FY2019.

Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-06 00:00:00

This bill amends the Internal Revenue Code to require: (1) the reinstatement of the tax-exempt status of a tax-exempt subsidiary organization with fewer than 50 members whose tax-exempt status was revoked due to failure to file required tax returns or notices, and (2) a waiver of any user fee charged in connection with a reinstatement application. As a condition for reinstatement, the organization must file any required returns or notices.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-06 00:00:00

Alternative Maximum Tax Act or the Max Tax Act

Amends the Internal Revenue Code to provide for an alternative maximum tax for a taxpayer other than a corporate taxpayer. Limits the tax to 50% of the taxpayer's adjusted gross income, calculated by adding all federal, state, and local taxes paid by the taxpayer during the taxable year and dividing that amount by the taxpayer's adjusted gross income.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-06 00:00:00

Death Tax Repeal Act

Repeals the federal estate, gift, and generation-skipping transfer taxes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-07 00:00:00

Farmers Against Crippling Taxes Act

Repeals the federal estate, gift, and generation-skipping transfer taxes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-08 00:00:00

Small Brewer Reinvestment and Expanding Workforce Act or the Small BREW Act

Amends the Internal Revenue Code to reduce the rate of the excise tax on beer produced within or imported into the United States for brewers who produce not more than 6 million barrels of beer a year.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-09 00:00:00

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Permanent Internet Tax Freedom Act

Amends the Internet Tax Freedom Act to make permanent the ban on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-09 00:00:00

Support Our Startups Act of 2015

This bill allows the increased tax deduction amount for business start-up expenses (defined as expenses for investigating the creation or acquisition of an active trade or business) for taxable years beginning in 2015 or 2016.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-09 00:00:00

Next Generation American Manufacturing Act of 2015

Amends the Internal Revenue Code to allow a tax credit for the purchase (during a specified period of between 5 and 10 years based on the incentive needed with respect to each product) of new products certified as assembled in the United States and consisting of at least 60% of components assembled or otherwise arising in the United States.

Establishes the 21st Century American Manufacturing Commission to conduct research to designate products eligible for such tax credit.

Allows certain start-up companies that are headquartered in the United States a tax credit for up to 25% of their costs for the construction of a manufacturing facility and for the purchase of specialized equipment for use at such facility. Defines a "start-up company" as any corporation or partnership that: (1) first has both gross receipts and qualified research expenses in a taxable year beginning after December 31, 2012; or (2) has both gross receipts and qualified research expenses in fewer than three taxable years beginning after December 31, 2012, and before January 1, 2018.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-14 00:00:00

Paying a Fair Share Act of 2015

 Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million (high-income taxpayer) to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax). Establishes the amount of such tax as the excess (if any) of the tentative fair share tax over the excess of: (1) the sum of the taxpayer's regular tax liability, the alternative minimum tax (AMT) amount, and the payroll tax for the taxable year; over (2) certain tax credits. Provides for a phase-in of such tax. Requires an inflation adjustment to the $1 million income threshold for taxable years beginning after 2016.

Expresses the sense of the House of Representatives that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-14 00:00:00

Fairness in Taxation Act of 2015

Amends the Internal Revenue Code to: (1) increase individual income tax rates for taxpayers whose taxable income exceeds $1 million, and (2) provide for an adjustment in the capital gains tax of taxpayers whose taxable income is subject to the 45% tax bracket.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-28 00:00:00

Cider Industry Deserves Equal Regulation Act or the CIDER Act 

Amends the Internal Revenue to revise the definition of "hard cider," for purposes of the excise tax on distilled spirits, wines, and beer, to mean any wine: (1) the carbonation level of which does not exceed 6.4 grams per liter; (2) which is derived primarily from apples, apple juice concentrate and water, pears, or pear juice concentrate and water; (3) which contains no fruit product or fruit flavoring other than apple or pear; and (4) which contains at least one-half of 1% and less than 8.5% alcohol by volume.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-02 00:00:00

Private Foundation Excise Tax Simplification Act of 2015

(Sec. 2) Amends the Internal Revenue Code to: (1) reduce from 2% to 1% 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.

(Sec. 3) Excludes the budgetary effects of this Act from PAYGO scorecards.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-04 00:00:00

Permanently Repeal the Estate Tax Act of 2015

Repeals the federal estate tax, effective for estates of decedents dying after December 31, 2014.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-05 00:00:00

Restaurant and Retail Jobs and Growth Act of 2015

(Sec. 2) This bill amends the Internal Revenue Code to make permanent the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property for purposes of the tax deduction for depreciation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-05 00:00:00

Fair Brewers Excise and Economic Relief Act or the Fair BEER Act 

This bill amends the Internal Revenue Code to revise the excise tax on beer brewed or produced, and removed for consumption or sale, within the United States or imported into the United States. The revised tax ranges from $0 for an amount not exceeding 7,143 barrels to $18 per barrel on an amount exceeding 2 million barrels.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-05 00:00:00

Foreign Earnings Reinvestment Act 

 Amends the Internal Revenue Code to: (1) extend the election allowed to a domestic corporation to deduct current and accumulated dividends received from a controlled foreign corporation to the corporation's last taxable year beginning before the enactment of this Act or the first taxable year which begins during the one-year period beginning on such enactment date, (2) reduce tax rates on foreign earnings of domestic corporations that reinvest such earnings in the United States and that expand their payrolls over 2014 levels, and (3) increase the taxable income of domestic corporations that fail to maintain employment levels in the 23-month period after receiving a reduction in tax rates under this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-10 00:00:00

New Markets Tax Credit Extension Act of 2015

Amends the Internal Revenue Code to: (1) make permanent the new markets tax credit, (2) provide for an inflation adjustment to the limitation amount for such credit after 2014, and (3) allow an offset against the alternative minimum tax for such credit (determined with respect to qualified equity investments initially made after the enactment of this Act).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-11 00:00:00

Aged Distilled Spirits Competitiveness Act

Amends the Internal Revenue Code to exclude from determination of the production period for distilled spirits any period allocated to the natural aging process for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-24 00:00:00

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 income 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: 2015-02-26 00:00:00

(This measure has not been amended since it was reported to the House on April 13, 2015. The summary of that version is repeated here.)

Fair Treatment for All Gifts Act

(Sec. 2) This bill amends the Internal Revenue Code to allow a deduction from the taxable amount of gifts for gifts made to specified tax-exempt organizations, including: (1) social welfare organizations; (2) labor, agricultural, and horticultural organizations; and (3) business leagues, chambers of commerce, real-estate boards, boards of trade, and professional football leagues. Declares that for purposes of the gift tax, a transfer of property to such organizations shall not be deemed to be a transfer by gift.