jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-11-28 00:00:00

Middle Class Tax Cut Act of 2011 - Reduces employment tax rates in calendar year 2012 (payroll tax holiday period) for both employers and employees to 3.1%.  Limits the reduction for employers to the first $5 million of wages paid by the employer in 2012. Reduces the tax rate on the first $5 million of net earning of a self-employed taxpayer. Allows nongovernmental employers a tax credit for payroll increases in the last quarter of 2011 and in 2012. Appropriates funds to the social security trust funds to compensate for any revenue loss to such funds from the reduction in rates and the tax credit allowed by this Act. Amends the Internal Revenue Code to impose on individual taxpayers in taxable years beginning after 2012 an additional tax equal to 3.25% of so much of their modified adjusted gross income as exceeds $1 million.  Defines "modified adjusted gross income" as adjusted gross income reduced by any deduction allowed for investment interest.  Provides for an inflation adjustment to the $1 million threshold amount for taxable years beginning after 2013.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-12-01 00:00:00

Amends the Internal Revenue Code to repeal the excise tax on communication services (i.e., local telephone service, toll telephone service, and teletypewriter exchange service). Amends the Internet Tax Freedom Act to make permanent the moratorium on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce. Prohibits states, local governments, and private owners of airports from imposing any tax, fee, or other charge on amounts charged or retained for facilitating the booking of air transportation, hotel accommodations, car rental or other travel-related services.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2011-12-05 00:00:00

Middle Class Tax Cut Act of 2011 - Amends the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 to extend through 2012 the reduction in employment taxes for employees and the self-employed. Increases such reduction from 2% to 3.1% Amends the Internal Revenue Code to impose on individual taxpayers between 2012 and 2022 an additional tax equal to 1.9% of so much of their modified adjusted gross income in excess of $1 million. Provides for an inflation adjustment to the $1 million threshold amount for taxable years beginning after 2013. Defines "modified adjusted gross income" as adjusted gross income reduced by any deduction allowed for investment interest. Imposes a 50% tax (55% for a taxable year beginning in 2011 or 2012) on any unemployment compensation received by a taxpayer with an adjusted gross income of at least $1 million. Denies a tax deduction for the payment of such tax. Amends the Food and Nutrition Act of 2008 to render ineligible for the supplemental nutrition assistance program (SNAP), formerly food stamps, any household in which a member receives income or assets with a fair market value of at least $1 million. Amends the Housing and Community Development Act of 1992 to require until October 1, 2021, a phased increase in the fees charged to mortgage lenders by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to guarantee payment of new mortgage loans.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-02-01 00:00:00

Paying a Fair Share Act of 2012 - Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million 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 2013. Expresses the sense of the Senate 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: 2012-02-02 00:00:00

Energy Freedom and Economic Prosperity Act - Amends the Internal Revenue Code to repeal: (1) the excise tax credits for alcohol fuel, biodiesel, and alternative fuel mixtures; (2) the tax credits for the purchase of certain plug-in electric vehicles and alternative motor vehicles; (3) the alternative fuel vehicle refueling property tax credit; (4) the tax credits for alcohol used as fuel and for biodiesel and renewable diesel used as fuel; (5) the enhanced oil recovery tax credit and the tax credit for producing oil and gas from marginal wells; (6) the tax credit for carbon dioxide sequestration; (7) the energy tax credit; and (8) the tax credits for investment in qualifying advanced coal projects and qualifying gasification projects. Terminates after 2012 the tax credits for the production of electricity from certain renewable resources and from advanced nuclear power facilities. Repeals the grant program under the American Recovery and Reinvestment Act of 2009 for payments to invest in alternative and renewable energy property in lieu of tax credits. Directs the Secretary of the Treasury to reduce the corporate income tax rates by prescribing proportionate modifications to such rates based upon revenue savings resulting from the repeal of energy tax expenditures by this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-02-09 00:00:00

1099K Overreach Prevention Act - Amends the Internal Revenue Code to exempt taxpayers who are required to report payments made in settlement of payment card and third party network transactions from any requirement to reconcile such payments to amounts related to gross receipts or sales.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-02-14 00:00:00

Social Security Preservation through Individual Choice Enhancement Act - Amends the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 to allow individual taxpayers an election to claim the 2% reduction in employment taxes under such Act in any calendar year beginning in or after 2012. Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to increase the applicable social security retirement age by one month for each calendar year that a taxpayer elects a reduction in employment taxes under this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-02-29 00:00:00

Mortgage Cancellation Relief Act of 2012 - Amends the Internal Revenue Code to allow a permanent exclusion from gross income of amounts attributable to the discharge of qualified residential indebtedness, in the case of an individual (currently, limited to principal residence indebtedness discharged before January 1, 2013). Defines "qualified residential indebtedness" to mean indebtedness, including indebtedness from refinancing, that was incurred or assumed: (1) in connection with real property used as a residence and that is secured by such real property; and (2) to acquire, construct, reconstruct, or substantially improve such property. Limits the amount of such exclusion to the excess (if any) of the outstanding principal amount of such indebtedness (immediately before the discharge) over the sum of: (1) the amount realized from the sale of such real property reduced by the cost of the sale, and (2) the outstanding principal amount of any other indebtedness secured by such property.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-03-15 00:00:00

Saving the Family Farm Act of 2012 - Amends the Internal Revenue Code to exclude from the gross estate of a decedent the adjusted value of any qualified family-owned farm or business (i.e., a qualified farmland or a qualified trade or business) included in the estate. Requires: (1) the decedent to have been a citizen or resident of the United States at the time of death, (2) the decedent and members of the decedent's family to have owned not less than 60% of such farm or business in any 5-year period during the 8-year period prior to the decedent's death, and (3) material participation in the operation of the farm or business by the decedent and members of the decedent's family. Defines "qualified farmland" as any real property located in the United States that is used as a farm for farming purposes. Defines "qualified trade or business" as any interest in a trade or business that is not an interest in a C corporation and that was acquired from or passed from the decedent to an heir. Imposes a recapture tax on an heir who disposes of any interest in a qualified family-owned farm or business or who ceases to use qualified farmland for farming purposes after inheriting such property.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-03-20 00:00:00

Amends the Internal Revenue Code to allow decedent estates to base the value of qualified historic property on the net earnings of such property for estate and gift tax purposes. Defines "qualified historic property" as any building designated as a national historic landmark for at least 25 years prior to the death of a decedent and originally used for residential or farming purposes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-03-22 00:00:00

Paying a Fair Share Act of 2012 - Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million 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 2013. Expresses the sense of the Senate 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: 2012-03-26 00:00:00

Small Business Jobs and Tax Relief Act - Amends the Internal Revenue Code to allow certain employers a tax credit for 10% of the excess (if any) of: (1) the wages and compensation paid to their employees in 2012; over (2) the amount of such wages paid in 2011, up to a maximum amount of $5 million. Extends for one year the 100% bonus depreciation allowance for business assets. Increases the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-03-27 00:00:00

Amends the Internal Revenue Code to: (1) extend for one year the 100% bonus depreciation allowance for business assets, and (2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-03-28 00:00:00

Death Tax Repeal Permanency Act of 2012 - Amends the Internal Revenue Code to: (1) repeal the estate and generation-skipping transfer taxes, and (2) make permanent the maximum 35% gift tax rate and a $5 million lifetime gift tax exemption.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-04-17 00:00:00

Communities Committed to College Tax Credit Act of 2012 - Amends the Internal Revenue Code to allow a tax credit for 50% of any contribution to a tax-exempt scholarship funding trust established to provide scholarships for individuals with demonstrated financial need to attend institutions of higher education.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-05-17 00:00:00

Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy or the Ex-PATRIOT Act - Amends the Internal Revenue Code to impose a 30% tax and withholding on capital gains income realized by a nonresident alien individual present in the United States for periods aggregating 183 days or more or an expatriate who has renounced his or her U.S. citizenship for tax avoidance purposes (specified expatriate). Amends the Immigration and Nationality Act to: (1) render a specified expatriate inadmissible to the United States, and (2) prohibit any waiver of such inadmissibility. Directs the Secretary of the Treasury, in consultation with the Secretaries of State and Homeland Security (DHS), to develop a policy for granting a waiver of inadmissibility to a specified expatriate who satisfies a tax liability related to such expatriate's renunciation of of U.S. citizenship.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-05-23 00:00:00

Amends the Internal Revenue Code to provide for a permanent reduction from 10 to 5 years in the recognition period for built-in gains of S corporations.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-05-23 00:00:00

Americans Giving care to Elders (AGE) Act of 2012 - Amends the Internal Revenue Code to allow caregivers a tax credit for up to $6,000 of the eldercare expenses incurred for their parents (or ancestors of such parents). Amends the Older Americans Act of 1965 to: (1) increase and extend funding for the National Family Caregiver Support Program through FY2015, and (2) establish a National Resource Center on Family Caregiving to provide information on and support for family caregiver support programs.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-06-06 00:00:00

American Opportunity Tax Credit Permanence and Consolidation Act of 2012 - Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that: (1) allows an income tax credit of up to $3,000 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, (3) allows a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes 40% of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-06-14 00:00:00

Amends the Internal Revenue Code to: (1) qualify Indian tribes as eligible recipients of tax deductible contributions of "apparently wholesome food," as defined by the Bill Emerson Good Samaritan Food Donation Act; and (2) extend through 2013 the special rule allowing a tax deduction for contributions of apparently wholesome food by taxpayers other than C corporations.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-06-18 00:00:00

21st Century Investment Act of 2012 - Amends the Internal Revenue Code to: (1) make permanent the tax credit for increasing research activities, (2) increase such credit for amounts paid or incurred for research substantially all of which occurs in the United States, (3) increase the rate of the simplified research tax credit, and (4) increase through December 31, 2020, the domestic production activities tax deduction for income attributable to the manufacture or production of property with respect to which substantially all of the research and development occurred in the United States.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-06-28 00:00:00

Expanding Industrial Energy and Water Efficiency Incentives Act of 2012 - Amends the Internal Revenue Code to: (1) increase megawatt and horsepower capacity limitations for the combined heat and power system property energy tax credit; (2) allow new tax credits to improve advanced motor system energy efficiency, to replace chlorofluorocarbon (CFC) refrigerant chillers, and for investment in any qualifying efficient industrial process water use project; and (3) allow an energy tax credit for investment in biomass heating property.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-12 00:00:00

Philanthropic Enterprise Act of 2012 - Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meet specified requirements relating to exclusive ownership, minimum distribution of net operating income, and independent operation (i.e., not controlled by a substantial contributor) from the excise tax on excess business holdings and unrelated business income.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-17 00:00:00

Middle Class Tax Cut Act - Extends through 2013 for a taxpayer whose income is $200,000 or less ($250,000 for married couples filing jointly): (1) the tax rate reductions and other tax benefits of the Economic Growth and Tax Relief Reconciliation Act of 2001, and (2) the reduction in the tax rate for dividend and capital gain income enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Increases income tax rates and phases-out personal exemptions and itemized deductions for certain high-income taxpayers. Amends the Internal Revenue Code to extend through 2013: (1) the increased American Opportunity tax credit, (2) the increase in the refundable portion of the child tax credit, (3) the increased earned income tax credit percentage for three or more qualifying children, (4) the disregard of tax refunds in determining eligibility for federal and federally-assisted programs, and (5) the election to expense depreciable business assets. Modifies estate tax provisions to establish: (1) an estate tax exclusion of $3.5 million, and (2) a maximum 45% estate tax rate. Extends for one year: (1) the increased exemption amount for the alternative minimum tax (AMT), and (2) the offset against the AMT of certain nonrefundable personal tax credits. Provides that the budgetary effects of this Act shall not be taken into account under the Statutory Pay-As-You-Go Act of 2010.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-18 00:00:00

Tax Relief Act of 2012 - Extends through 2013: (1) the Economic Growth and Tax Relief Reconciliation Act of 2001, and (2) the reduction in the tax rates for dividend and capital gain income enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Amends the Internal Revenue Code to extend for an additional two years: (1) the increased exemption amount for the alternative minimum tax (AMT); (2) the offset against the AMT for certain nonrefundable personal tax credits; and (3) the increased expensing allowance for depreciable business assets, including computer software. Directs the Senate Committee on Finance to report tax reform legislation not later than 12 months after the enactment of this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-19 00:00:00

Death Tax Repeal Act - Repeals the federal estate, gift, and generation-skipping transfer taxes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-19 00:00:00

Middle Class Tax Cut Act - Title I: Temporary Extension of Tax Relief - (Sec. 101) Extends through 2013 for an individual taxpayer whose adjusted gross income is less than the applicable threshold amount (i.e., $200,000 for individual taxpayers, $225,000 for heads of household, and $250,000 for married couples filing a joint tax return) the tax rate reductions and other tax benefits of the Economic Growth and Tax Relief Reconciliation Act of 2001. Modifies individual income tax brackets for 2013 to reduce income tax for taxpayers whose adjusted gross income is less than the applicable threshold amount and to increase the income tax rate for taxpayers above such threshold amount. Provides for an inflation adjustment to the applicable threshold amounts for calendar years beginning after 2012. Exempts taxpayers whose adjusted gross income is less than the applicable threshold amount from the phase-out of personal exemptions and itemized deductions. (Sec. 102) Extends through 2013 for an individual taxpayer whose adjusted gross income is less than the applicable threshold amount the reduction in the tax rate for dividend and capital gain income enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Increases to 20% the tax rate for capital gains income for taxpayers whose adjusted gross income exceeds the applicable threshold amount. (Sec. 103) Extends through 2013: (1) the increased American Opportunity tax credit, (2) the increase in the refundable portion of the child tax credit, (3) the increased earned income tax credit percentage for three or more qualifying children, and (4) the disregard of tax credits and refunds in determining eligibility for federal and federally-assisted programs (i.e., means tested programs). (Sec. 104) Extends to taxable years beginning in 2013 a $250,000 expensing allowance for depreciable business assets, including computer software. Increases to $800,000 the threshold for a phase-out of the amount of such expensing allowance. Title II: Alternative Minimum Tax Relief - (Sec. 201) Extends to taxable years beginning in 2012 the increased exemption from the alternative minimum tax (AMT) for individual taxpayers. (Sec. 202) Extends to taxable years beginning in 2012 the offset against the AMT for certain nonrefundable personal tax credits. Title III: Budgetary Effects - Provides that the budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to the Statutory Pay-As-You-Go Act of 2010 or any Senate PAYGO scorecard.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-19 00:00:00

Tax Hike Prevention Act of 2012 - Extends through 2013: (1) the Economic Growth and Tax Relief Reconciliation Act of 2001, and (2) the reduction in the tax rates for dividend and capital gain income enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Amends the Internal Revenue Code to extend for an additional two years: (1) the increased exemption amount for the alternative minimum tax (AMT); (2) the offset against the AMT for certain nonrefundable personal tax credits; and (3) the increased expensing allowance for depreciable business assets, including computer software. Directs the Senate Committee on Finance to report tax reform legislation not later than 12 months after the enactment of this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-23 00:00:00

Tax Hike Prevention Act of 2012 - Extends through 2013: (1) the Economic Growth and Tax Relief Reconciliation Act of 2001, and (2) the reduction in the tax rates for dividend and capital gain income enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Amends the Internal Revenue Code to extend for an additional year: (1) the increased exemption amount for the alternative minimum tax (AMT); (2) the offset against the AMT for certain nonrefundable personal tax credits; and (3) the increased expensing allowance for depreciable business assets, including computer software. Directs the Senate Committee on Finance to report tax reform legislation not later than 12 months after the enactment of this Act.