jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-02-06 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 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: 2012-02-09 00:00:00

Amends the Internal Revenue Code to: (1) treat income and gains from the use, sale, or exchange of infrastructure property as qualifying income for purposes of the tax treatment of publicly-traded partnerships; (2) exempt publicly-traded partnerships from the limitation on the tax deduction for income attributable to oil-related qualified production activities; (3) allow accelerated depreciation of infrastructure property (i.e., classify such property as five-year property); and (4) treat exchanges of infrastructure property as like-kind exchanges (thus exempting gain from such exchanges from tax). Defines "infrastructure property" as property which is part of: (1) roads and related improvements; (2) train tracks and related improvements; (3) airports; (4) docks and wharves; (5) facilities for sewage, solid waste disposal, the furnishing of water, the transmission and distribution of natural gas, or the generation, transmission, and distribution of electricity; or (6) communications facilities.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-02-13 00:00:00

Temporary Payroll Tax Cut Continuation Act of 2012 - Amends the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 to extend through 2012 the 2% reduction in employment tax rates for employees and self-employed individuals.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-02-14 00:00:00

Carried Interest Fairness Act of 2012 - Amends the Internal Revenue Code to: (1) set forth a special rule for the inclusion in gross income of partnership interests transferred in connection with the performance of services, (2) treat as ordinary income the net capital gain with respect to an investment services partnership interest except to the extent such gain is attributable to a partner's qualified capital interest, (3) exempt income from investment services partnership interests from treatment as qualifying income of a publicly traded partnership, (4) increase the penalty for underpayments of tax resulting from failure to treat income from an investment services partnership interest as ordinary income, and (5) include income and loss from an investment services partnership interest for purposes of determining net earnings from self-employment and applicable self-employment taxes. Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership about investing in, purchasing, or selling specified assets; (2) managing, acquiring, or disposing of specified assets; or (3) arranging financing with respect to acquiring specified assets.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-02-15 00:00:00

Help Entrepreneurs Create American Jobs Act of 2012 - Amends the Internal Revenue Code to make the increase (from $5,000 to $10,000) in the tax deduction for the start-up expenditures of an active trade or business permanent (currently, limited to taxable years beginning in 2010).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-02-15 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: 2012-02-16 00:00:00

Keeping Promises to Taxpayers Act of 2012 - Amends the Internal Revenue Code and the Patient Protection and Affordable Care Act to repeal certain health care-related taxes and other provisions, including: (1) the requirement that certain employers provide their employees with health insurance coverage and report on such coverage, (2) the excise tax on excess benefits from employer-sponsored health care coverage, (3) the requirement that distributions from a health savings account be used to pay for prescription drugs and insulin only (thus allowing for payment of over-the-counter medications), (4) the increase (from 7.5% to 10%) in the income threshold for the medical expense tax deduction, (5) the $2,500 limitation on contributions to health flexible spending arrangements, (6) the annual fees required for businesses providing health insurance and manufacturers or importers of branded prescription drugs, (7) the Patient-Centered Outcomes Research Trust Fund, (8) the fee imposed on insured and self-insured health plans, (9) the excise taxes on medical device manufacturers and importers and on indoor tanning services, (10) the increase (from 10% to 20%) in the penalty for distributions from health savings accounts and Archer medical savings accounts not used for qualified medical expenses, and (11) the increase in the tobacco production excise tax.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-03-13 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: 2012-03-16 00:00:00

Closing Corporate Jet Tax Loopholes to Employ Veterans Act of 2012 or the Jets for Vets Act of 2012 - Amends the Internal Revenue Code to classify general aviation aircraft as seven-year property for purposes of the depreciation tax deduction (currently, expenses for aircraft can be deducted or expensed in the current taxable year). Defines "general aviation aircraft" as any airplane or helicopter not used in commercial or contract carrying of passengers or freight, but which primarily engages in the carrying of passengers. Increases the work opportunity tax credit for the hiring of veterans by increasing the dollar limitation on veteran wages eligible for such credit with revenue saved from the depreciation reclassification of general aviation aircraft by this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-03-19 00:00:00

Amends the Internal Revenue Code to extend through 2014 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-03-26 00:00:00

Adjusting for Income Disparity Act of 2012 - Amends the Internal Revenue Code to allow an individual taxpayer a new tax credit to compensate for income disparity. Sets the amount of such credit at the applicable credit amount ($2,500 to $5,000) reduced by a specified percentage (3 1/3% to 6 2/3%) of the excess of the taxpayer's modified adjusted gross income over a specified threshold ($15,000 to $30,000), based on the number of the taxpayer's dependents. Accelerates to December 31, 2011 (currently, December 31, 2012), the termination date for the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) and the provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) providing for a reduction in capital gain and dividend tax rates.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-03-28 00:00:00

Homeowner Tax Fairness Act - Amends the Internal Revenue Code to: (1) extend through 2015 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence, (2) extend through 2014 the tax deduction for mortgage insurance premiums, and (3) exclude from gross income any National Mortgage Settlement amount. Defines "National Mortgage Settlement amount" as any amount received pursuant to the settlement in a legal action against Bank of America Corporation filed in U.S. District Court on March 12, 2012, which is: (1) a payment for transitional assistance; (2) a payment from the Borrower Payment Fund under the National Mortgage Settlement to a borrower whose home was finally sold or taken in foreclosure after December 31, 2007, and before January 1, 2012; or (3) a payment received as a result of a foreclosure or excess charge of interest that the Department of Justice (DOJ) has determined was not in compliance with the Servicemembers Civil Relief Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-04-16 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: 2012-04-17 00:00:00

Amends the Internal Revenue Code to allow the release of a federal tax levy on any trade or business of a taxpayer who can show hardship due to such levy.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-04-17 00:00:00

Amends the Internal Revenue Code to extend through 2013 the increase in the amount of distilled spirits tax covered into the treasuries of Puerto Rico and the Virgin Islands.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-04-19 00:00:00

Easy Earned Income Tax Credit Act of 2012 - Requires the Secretary of the Treasury to: (1) modify income tax forms to incorporate information currently required on the separate earned income tax credit form (Form EIC), and (2) provide a notice on such forms and in the instructions for such forms that the Secretary will compute the taxpayer's earned income tax credit upon request. Amends the Internal Revenue Code to allow a taxpayer to elect not to compute the amount of such taxpayer's earned income tax credit, in which case the Internal Revenue Service (IRS) shall compute such credit amount.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-05-07 00:00:00

Middle Class Tax Fairness Act of 2012 - Amends the Internal Revenue Code to make permanent the taxpayer election to deduct state and local general sales taxes in lieu of state and local income taxes. Requires 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. Requires any savings resulting from the enactment of this Act to be used for federal budget deficit reduction or reduction of the federal debt.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-05-08 00:00:00

Fighting Tax Fraud Act of 2012 - Amends the Internal Revenue Code to impose an increased penalty on a tax return preparer who engages in fraudulent conduct by: (1) willfully modifying any tax return or claim for refund which creates an understatement of tax liability after such return or claim has been signed by the taxpayer, and (2) willfully attempting to intercept the proceeds of such modified refund or claim. Establishes the penalty amount at the greater of $5,000 or the amount of the understated tax liability.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-05-15 00:00:00

Update and Streamline REIT Act of 2012 or US REIT Act of 2012 - Amends the Internal Revenue Code, with respect to the tax treatment of real estate investment trusts (REITs), to: (1) modify safe harbor rules for avoiding penalties for prohibited sales of rental and timber properties by REITs by allowing three-year averaging of sales proceeds for such properties, (2) repeal the preferential dividend rule for dividend payments to shareholders of publicly-offered REITs, (3) revise REIT income and assets tests to allow treatment of publicly-offered REIT debt instruments and personal property leased or mortgaged in connection with REIT real property as real estate assets, (4) make permanent the treatment of gain from sales of timber property and mineral royalties as qualifying REIT income, and (5) revise the calculation of REIT earnings and profits to avoid duplicate taxation of REIT shareholders.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-05-18 00:00:00

Veterans Back to Work Act of 2012 - Amends the Internal Revenue Code to: (1) extend through 2013 the work opportunity tax credit for hiring qualified veterans (veterans receiving compensation for a service-connected disability and other federal assistance), and (2) allow employers who hire qualified veterans an exemption through 2013 from employment and railroad retirement taxes. Appropriates amounts to the Social Security Old-Age and Survivors Trust Fund and the Federal Disability Insurance Trust Fund to cover any revenue loss to such Funds resulting from this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-05-18 00:00:00

Charity Care Tax Deduction for Physicians Act of 2012 - Amends the Internal Revenue Code to allow a physician a tax deduction equal to the amount such physician would have otherwise charged for charity medical care provided on a volunteer or pro bono basis. Limits the allowable amount of such deduction to 10% of such physician's gross income for the taxable year.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-05-31 00:00:00

Deductibility and Incentives to Promote Learning Opportunities and Maximize Assistance Act of 2012 or the DIPLOMA Act of 2012 - Amends the Internal Revenue Code to: (1) allow an unlimited tax deduction for qualified tuition and related expenses for taxpayers whose adjusted gross incomes do not exceed $80,000 ($160,000 for joint returns), (2) extend such deduction through 2017, (3) allow a tax deduction for principal amounts paid on education loans for the first 60 months of such loans, and (4) extend the American Opportunity tax credit through 2017.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-06-20 00:00:00

Invest in America Now Act of 2012 - Amends the Internal Revenue Code to: (1) extend through 2012 the 100% bonus depreciation allowance for business assets; (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; and (3) deny major integrated oil companies a tax deduction for income attributable to the domestic production, transportation, or distribution of oil, natural gas, and primary products thereof.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-06-20 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: 2012-07-11 00:00:00

Middle Class Tax Cut Protection Act of 2012 - Extends through 2014: (1) the general terminating date 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. Amends the Internal Revenue Code to extend through 2014: (1) the increased American Opportunity tax credit, (2) the increase in the refundable portion of the child tax credit, and (3) the increased earned income tax credit percentage for three or more qualifying children. Disqualifies taxpayers whose income exceeds $250,000 for such extended tax benefits.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-11 00:00:00

Working Families Tax Protection Act of 2012 - Extends through 2013 the terminating date for provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 relating to: (1) individual income tax rate reductions, (2) tax benefits related to children and adoption, (3) reduction of the marriage penalty, and (4) education assistance. Denies such extension to taxpayers whose income exceeds $500,000. Extends through 2013 the terminating date for provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 relating to reductions in the tax rate for dividend and capital gain income. Denies such extension to taxpayers whose income is taxed at the maximum income tax rate. 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, and (3) the increased earned income tax credit percentage for three or more qualifying children.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-12 00:00:00

Scaling Up Manufacturing Act of 2012 - Amends the Internal Revenue Code to allow 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: 2012-07-24 00:00:00

Pathway to Job Creation through a Simpler, Fairer Tax Code Act of 2012 - States that the purpose of this Act is to provide for the enactment of comprehensive tax reform in 2013 that: (1) protects taxpayers by creating a fairer, simpler, flatter tax code; (2) is comprehensive; (3) results in tax revenue consistent with historical norms; (4) spurs greater investment, innovation and job creation; and (5) makes American workers and businesses more competitive. Defines a "tax reform bill" for purposes of this Act as a bill to be introduced by the chair of the House Committee on Ways and Means not later than April 30, 2013, that is certified by the chair of the Joint Committee on Taxation as containing proposals to: (1) consolidate the 6 current individual income tax brackets into a maximum of 2 brackets (of 10% and not higher than 25%), (2) reduce the corporate income tax rate to not more than 25%, (3) repeal the alternative minimum tax (AMT), (4) broaden the tax base so that tax revenues comprise between 18% and 19% of Gross Domestic Product (GDP), and (5) reform the current system of foreign taxation. Provides for the expedited consideration of such bill in the House of Representatives and the Senate.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-24 00:00:00

Amends the Internal Revenue Code to extend through 2013: (1) the increase in the Hope Scholarship tax credit (American Opportunity Tax Credit), and (2) the disregard of tax refunds for purposes of determining eligibility for means tested federal programs.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-24 00:00:00

Amends the Internal Revenue Code to eliminate tax-exempt interest earned on private activity bonds as an item of tax preference for purposes of calculating the alternative minimum tax.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-26 00:00:00

Build America Bonds Act of 2012 - Amends the Internal Revenue Code to: (1) make permanent the issuance authority for Build America Bonds and the authority for payments to issuers of such bonds; (2) make phased reductions in the credit percentage to bondholders and the percentage of payments to issuers of such bonds; (3) allow refundings of currently issued bonds; (4) allow the use of Build America bonds to fund capital expenditures for levees and flood control projects; and (5) deny a tax deduction to major integrated oil companies for income attributable to the production, refining, processing, transportation, or distribution of oil, gas, or any primary product thereof.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-07-26 00:00:00

Makes permanent: (1) the Economic Growth and Tax Relief Reconciliation Act of 2001, and (2) provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 that reduce tax rates on dividend and capital gain income. Amends the Internal Revenue Code to make permanent: (1) the tax deduction for tuition and related expenses, and (2) the increased expensing allowance for small business assets. Repeals the estate tax and the tax on generation-skipping transfers. Modifies tax gift tax rates and allows an increased lifetime gift tax exemption. Extends for one year the increased exemption from the alternative minimum tax (AMT) for individual taxpayers and the offset against the AMT for certain nonrefundable personal tax credits. Provides for an inflation adjustment to the basis of certain assets held for more than three years for purposes of determining gain or loss from the disposition of such assets.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2012-08-01 00:00:00

Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, the value of any medal awarded in, or any prize money received from the U.S. Olympic Committee on account of, competition in the Olympic Games.