jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-05-11 00:00:00

National Disaster Tax Extenders Act - Amends the Internal Revenue Code to exclude a casualty loss tax deduction for disaster losses sustained after December 31, 2009, and before January 1, 2011, from an individual's gross income in determining adjusted gross income. Extends through 2010: (1) such casualty loss deduction; (2) expensing of disaster abatement and cleanup expenses; (3) the five-year carryback period of net operating losses attributable to federally declared disasters; and (4) the special depreciation allowance for qualified disaster assistance property.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-05-12 00:00:00

Tax Information for New Fiscal Oversight Act of 2010 - Directs the Joint Committee on Taxation, beginning with its 2011 annual tax expenditure report, to: (1) analyze each tax expenditure identified in such report for its equity, efficiency, and ease of administration; and (2) reflect in such report the aggregate annual revenue lost due to such tax expenditures.
Topic: Macroeconomics — Tax Code
Subject: Foreign trade and international finance
Date: 2010-05-18 00:00:00

Foreign-Held Debt Transparency and Threat Assessment Act - Expresses the sense of Congress about the growing federal debt of the United States, the increasing U.S. dependence on foreign creditors like its largest foreign creditor, the People's Republic of China, whose holdings could give China a tool with which to manipulate U.S. policymaking (including with respect to Taiwan) and pose a direct threat to the national economy and national security. Directs the President to report quarterly to certain congressional committees on the risks posed by foreign holdings of U.S. debt instruments, and make such report public on the Internet. Directs the Comptroller General to report annually to certain congressional committees on such risks. Directs the President to formulate, report to the appropriate congressional committees, and implement a plan of action to reduce an unsustainable level of risk to an acceptable and sustainable level, in a manner that results in a reduction in federal spending, in any case in which the President or the Comptroller General makes specified determinations that a foreign country's holdings of U.S. debt instruments pose an unacceptable risk to long-term national security or economic stability, or that the levels of risk posed by the federal debt are unsustainable.
Topic: Macroeconomics — Tax Code
Subject: Armed forces and national security
Date: 2010-05-20 00:00:00

War is Making You Poor Act - Limits amounts made available to the Department of Defense (DOD) in any appropriations Act for fiscal year 2011 that may be available for the base budget or for overseas contingency operations in Iraq, Afghanistan, or Pakistan. Amends the Internal Revenue Code to allow individual taxpayers whose modified adjusted gross income is $35,000 or less ($70,000 for married couples) a tax credit (designated as the War is Making You Poor Tax Credit) equal to their net income tax liability for the first taxable year beginning in 2011.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-05-25 00:00:00

Green Energy Efficient Roofs and Job Creation Act of 2010 - Amends the Internal Revenue Code to classify as 20-year property for depreciation purposes a roof replacement on a commercial building during 2010 or 2011 with a roof assembly which has the new insulation installed entirely above the roof deck and which meets or exceeds the minimum R-value for the appropriate climate zone as specified in the International Energy Conservation Code.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-05-28 00:00:00

Amends the Internal Revenue Code to classify any computer-based gambling machine, including slot machines and video lottery terminals, as five-year property for depreciation purposes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-05-28 00:00:00

Investing Income at Home Act of 2010 - Amends the Internal Revenue Code to exclude from the definition of "personal holding company income" foreign affiliate dividends designated for reinvestment in the United States. Imposes an additional tax on such dividends if they are not reinvested in the United States within five years.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-05-28 00:00:00

Family Farm Estate Tax Relief Act of 2010 - Amends the Internal Revenue Code to: (1) exclude from the value of a decedent's gross estate farmland used by an heir for farming purposes; (2) impose a recapture tax on an heir who disposes of such farmland after the decedent's death or who ceases to use such farmland for farming purposes; and (3) increase the limitation on the estate tax exclusion for land subject to a qualified conservation easement to $5 million and the percentage of the value of such land that is excludable.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-06-09 00:00:00

Check the Debt Act of 2010 - Amends the Internal Revenue Code to allow individual taxpayers (other than nonresident aliens) to designate $3 or more of their tax liability ($6 for married couples filing a joint tax return) to reduce the public debt.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-06-29 00:00:00

Stop Outsourcing and Create American Jobs Act of 2010 - Directs the Secretary of the Treasury to develop and publish a list of countries that are tax havens for corporations. Amends the Internal Revenue Code to increase the penalties on corporations for: (1) underpayment of tax involving an undisclosed foreign financial asset located in a tax haven country; (2) reportable transaction understatements involving transactions in a tax haven country; and (3) fraud, tax evasion, or false statements involving transactions in a tax haven country. Grants a preference in the award of federal contracts to contractors who have not engaged in outsourcing. Defines "outsourcing" as the laying off of a U.S. worker from a job and the hiring or contracting for the same job to be performed in a foreign country. Requires revenues generated by this Act to be set aside for the reduction of the public debt.
Topic: Macroeconomics — Tax Code
Subject: Immigration
Date: 2010-07-01 00:00:00

Securing Knowledge, Innovation, and Leadership Act of 2010 or the SKIL Act of 2010 - Amends the Immigration and Nationality Act to exempt from the annual H-1B (specialty occupation) visa cap an alien who has: (1) earned a master's or higher degree from an accredited U.S. university; or (2) been awarded a medical specialty certification based on post-doctoral training and experience in the United States. Increases the annual H-1B cap, with a 20% increase for the following year if the previous year's quota is reached. Exempts from worldwide immigration caps an alien who: (1) has earned a master's or higher degree from an accredited U.S. university; (2) has been awarded medical specialty certification based on postdoctoral training and experience in the United States; (3) will work in shortage occupations; (4) has earned a master's degree or higher in science, technology, engineering, or math and has been working in a related field in the United States during the three-year period preceding his or her immigrant visa application; (5) has extraordinary ability or received a national interest waiver; or (6) is the spouse or minor child of an employment-based immigrant. Increases the annual immigrant visa cap. Revises student visa provisions. Authorizes an L-1 (intracompany transfer) visa extension beyond the fifth or seventh year if the individual has a immigrant application pending. Permits an alien with an approved labor certification to apply for permanent resident status adjustment if there is no visa immediately available by paying a $500 supplemental fee. Directs the Secretary of Homeland Security (DHS) to establish a pre-certification procedure for employers who file multiple employment petitions. Revises certain labor certification provisions. Prohibits immigration application approval until background and security checks have been completed and any fraud allegations have been resolved. Authorizes temporary workers (E, H, I, L O, or P visas) who have not violated their status to renew their same category visa from within the United States.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-01 00:00:00

Amends the Internal Revenue Code to allow the Secretary of the Treasury to pay advance refunds or credits of 2008 recovery rebates after December 31, 2008, if necessary to correct a manifest injustice.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-01 00:00:00

Main Street Fairness Act - Grants the consent of Congress to the Streamlined Sales and Use Tax Agreement (Agreement), the multistate agreement on sales and use tax collection and administration adopted on November 12, 2002. Authorizes each state that is a party to the Agreement (member state), after 10 states (comprising at least 20% of the total population of all states imposing a sales tax) have petitioned for and have become member states, to require all remote sellers not qualifying for the small seller exception to collect and remit sales and use taxes on remote sales owed to each such member state under the terms of the Agreement. Terminates such authority if the requirements of this Act cease to be satisfied or an amendment adopted to the Agreement is outside the scope of administration of sales and use taxes by the member states or is inconsistent with the provisions of this Act. Permits a federally recognized Indian tribe that imposes a generally applicable sales tax to petition to become a member state. Allows any person affected by the Agreement to petition the Governing Board established by the Agreement for a determination of any issue arising under the Agreement. Provides for judicial review of Governing Board determinations by the United States Court of Federal Claims and grants such Court exclusive jurisdiction over actions for judicial review. Sets forth minimum requirements for simplifying the administration of multistate sales and use taxation under the Agreement. Provides for judicial review of any civil action challenging the constitutionality of this Act by a panel of three judges of a U.S. District Court. Expresses the sense of Congress that each member state under the Agreement should work with other member states to prevent double taxation where a foreign country has imposed a transaction tax on a digital good or service.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-15 00:00:00

Responsible Estate Tax Act - Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) eliminating the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent for estates of decedents dying after 2009 (thus restoring prior law). Declares that the sunset provision (general terminating date of December 10, 2010) of EGTRRA shall not apply to title V of such Act ( Estate, Gift, and Generation-Skipping Transfer Tax Provisions). Amends the Internal Revenue Code to: (1) revise estate tax brackets for estates over $750,000 and impose a maximum tax rate of 55% on estates over $50 million; (2) impose a 10% surtax on estates over $500 million; (3) increase to $3 million the reduction in valuations of farmland for estate tax puposes; (4) increase to $2 million the maximum estate tax exclusion for contributions of conservation easements; (5) require executors of estates to file information returns and provide valuations and consistent basis information to persons acquiring property from decedents or by gift; (6) set forth estate valuation rules for certain transfers of nonbusiness assets and limit estate tax discounts for certain individuals with minority interests in a business acquired from a decedent; and (7) revise rules for valuing assets in grantor retained annuity trusts to require that the right to receive fixed amounts from an annuity last for a term of not less than 10 years, that such fixed amounts not decrease during the first 10 years of the annuity term, and that the remainder interest have a value greater than zero when transferred.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-20 00:00:00

Investing in Our Future Act of 2010 - Amends the Internal Revenue Code to impose an excise tax on currency transactions exceeding $10,000 equal to 0.005% of the value of the currency acquired in the transaction (currency transaction tax). Establishes in the Treasury: (1) the Child Care Assistance Trust Fund, which shall be funded with 20% of the revenues from the currency transactions tax and which shall be used to provide increased allocations to states for child care assistance; (2) the Multilateral Global Health Trust Fund, which shall be funded with 40% of the revenues from such tax and from which the Secretary of State shall make grants to assist developing countries in addressing HIV/AIDS, tuberculosis, malaria, maternal mortality, family planning, neglected diseases, and other health issues; and (3) the Global Climate Change Adaptation and Mitigation Trust Fund, which shall be funded with 40% of the revenues from such tax and which shall be used for contributions to a United Nations Framework Convention on Climate Change global climate fund for climate change adaptation and mitigation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-20 00:00:00

Close Foreign Tax Loopholes: Make it in America Act of 2010 - Amends the Internal Revenue Code, with respect to the taxation of foreign income and the foreign tax credit, to: (1) suspend the recognition of foreign tax credits until the related foreign income is taken into account for U.S. tax purposes; (2) deny a foreign tax credit for foreign income not subject to U.S. taxation due to a covered asset acquisition (defined as an acquisition that results in an increase in tax basis for U.S. tax purposes but not for foreign tax purposes); (3) apply a separate foreign tax credit limitation for each item of income that would be treated as derived from sources within the United States and that would be treated as arising from sources outside the United States under a treaty obligation (if the taxpayer chooses the benefits of such treaty); (4) limit the amount of foreign tax credits that may be claimed by a U.S. domestic corporation with respect to a deemed dividend paid by a foreign subsidiary; (5) prevent a reduction in earnings in profits of a foreign corporation in an acquisition if more than 50% of the dividends arising from such acquisition would not be subject to U.S. taxation or would be includible in the earnings and profits of a controlled foreign corporation; (6) treat a foreign corporation as a member of an affiliated group for interest allocation and apportionment purposes if more than 50% of its gross income is effectively connected with a U.S. trade or business and at least 80% of either the vote or value of its outstanding stock is owned directly or indirectly by members of the affiliated group; (7) repeal tax rules exempting foreign source income attributable to the active conduct of a foreign trade or business from withholding of tax requirements; (8) treat as income received in the United States amounts received from noncorporate residents or domestic corporations with respect to guarantees and amounts paid by any foreign person if such amounts are connected with income that is effectively connected with the conduct of a trade or business in the United States; and (9) provide that the statute of limitations for assessing any tax on certain foreign transactions shall apply only to items related to a failure to provide information to the Internal Revenue Service (IRS) due to reasonable cause and not willful neglect.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-26 00:00:00

Fair American Corporate Tax Act or FACT Act - Amends the Internal Revenue Code to: (1) decrease from 35% to 28% the top marginal income tax rate for corporations (including personal service corporations); and (2) provide that the amount of any tax withholding for deductible payments made by a U.S. subsidiary of a foreign parent corporation to a related subsidiary in any country that has a tax treaty with the United States shall not be less than the amount which would be imposed if the payment were made directly to the foreign parent corporation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-27 00:00:00

Amends the Internal Revenue Code to repeal provisions that provide for the advance payment of the earned income tax credit.
Topic: Macroeconomics — Tax Code
Subject: Government operations and politics
Date: 2010-07-28 00:00:00

Poverty Measurement Improvement Act - Amends the Social Security Act to require the Bureau of the Census, annually, to publish statistics on levels of family income in the United States that take into account the full benefits poverty income measure and the partial benefits poverty income measure. Defines: (1) "partial benefits poverty income measure" to mean money income as defined by the Bureau for purposes of any survey relating to income or poverty in the United States; and (2) "full benefits poverty income measure" to mean the sum of the partial benefits poverty income measure and other non-cash benefits (including supplemental nutrition assistance benefits, housing subsidies, the actuarial value of health insurance coverage, and any other state or federal means-tested benefits) attributable to the members of the household involved, including non-related members, as calculated by the Bureau by applying its current disposable income methodology. Requires the Bureau to produce corresponding tables and graphs showing for each year the poverty rates (and related data) determined by using each such measure.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-28 00:00:00

Amends the Internal Revenue Code to authorize the U.S. Tax Court to: (1) appoint a clerk of court and other necessary employees without regard to civil service provisions governing appointments in the competitive service and to fix and adjust the compensation for such employees; (2) establish programs for employee evaluations, incentive awards, flexible work schedules, premium pay, and resolution of employee grievances; and (3) hire experts and consultants. Requires the Court's personnel management system to incorporate existing merit system principles and employee appeal rights, prohibit employment discrimination and prohibited personnel practices, and provide appropriate preference in hiring. Authorizes the judges and special trial judges of such Court to appoint their own employees, including law clerks, without regard to civil service provisions governing appointments in the competitive service.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-29 00:00:00

Community Recovery and Enhancement Act of 2010 or the CRE Act of 2010 - Amends the Internal Revenue Code to allow a new tax deduction for 50% of equity investment in a partnership (qualified debt reduction equity investment) and 50% of any payment on commercial real property (qualified debt reduction payment) made to reduce the principal amount of the qualified indebtedness of such partnership or commercial property. Defines "qualified indebtedness" to mean any indebtedness incurred or assumed by a partnership or other taxpayer before January 1, 2009, which is secured by commercial real property. Requires a recapture in income of any deduction taken by a partnership if such partnership incurs additional indebtedness within three years after receiving a qualified debt reduction equity investment under this Act.
Topic: Macroeconomics — Tax Code
Subject: Economics and public finance
Date: 2010-07-29 00:00:00

Truth in Spending Act of 2010 - Requires the President's annual budget request to Congress to include the most recent reports of the Director of the Office of Management and Budget (OMB) regarding the difference between the actual costs and the estimated costs of direct spending legislation, including proposed legislative language, if any, in such reports. Requires OMB to submit annually for inclusion in the President's budget request reports (with follow-up reports every five fiscal years) on the total estimated cost and total actual cost of direct spending legislation for the then budget year and four outyears. Requires the President, within seven days after receiving an OMB report, to submit proposed legislative language, if any, set forth in the report to both chambers. Prescribes the procedure for fast track consideration of the legislation in both chambers.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-29 00:00:00

Amends the Internal Revenue Code to increase from $600 to $2,200 the additional standard tax deduction for individuals age 65 and older and allow an annual inflation adjustment for such increased amount.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-29 00:00:00

Tax Education & Accountability Act or the TEA Act - Amends the Internal Revenue Code to repeal the withholding of income tax. Makes such repeal effective on or after the first January 1 occurring 1 year after the enactment of this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-29 00:00:00

American Business Competitiveness Act of 2010 - Amends the Internal Revenue Code to: (1) reduce to 23% the maximum income tax rate for corporations; (2) set forth rules for the allocation of foreign-related tax credits and deductions; (3) repeal rules for the application of the worldwide allocation of interest for purposes of computing the limitation on the foreign tax credit; (4) repeal the last-in, first-out (LIFO) and the lower of cost or market methods of inventory; (5) make permanent the increased ($250,000) expensing allowance for depreciable business assets; (6) increase from 15 to 20 years the amortization period for goodwill and other intangibles; (7) set forth rules for the application of the economic substance doctrine to tax transactions; (8) reduce the percentage of the deduction for dividends received; (9) require the recognition of ordinary income on the sale or exercise of a stock option in an S corporation with an employee stock ownership plan (ESOP); and (10) allow nonrecognition of gain in a corporate reorganization for corporations that exchange property solely for stock other than nonqualified preferred stock.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-30 00:00:00

COBRA Affordability Act of 2010 - Amends the Internal Revenue Code to allow: (1) the establishment of tax-exempt accounts for the payment of COBRA (health insurance continuation benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985) premiums; (2) an income-based tax deduction, up to $2,500, for cash contributions to such a COBRA premium payment account; (3) tax-free distributions from such an account for payment of COBRA premiums; (4) the rollover of unused amounts in such an account into a tax-exempt retirement account; and (5) employees to elect to enroll in an alternative health plan offered by their employers, in lieu of COBRA coverage.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2010-07-30 00:00:00

Bringing Business Back Act of 2010 - Amends the Internal Revenue Code to exclude from gross income for a specified 10-year period, for income tax purposes, income or gain from real property that is certified as zoned for commercial use, that has been undeveloped and vacant for a 2-year period, and that is located in a qualified census tract. Defines "qualified census tract" as any census tract that has an average poverty and unemployment rate exceeding the national rate and that exhibits another condition of distress, such as high crime, deteriorating infrastructure, or population decline.