jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-05-15 00:00:00

Veterans' Employment Transition Support Act of 2007 or the VETS Act of 2007 - Amends the Internal Revenue Code to allow employers a general business tax credit for hiring certain veterans certified by designated local agencies as having served on active duty (other than for training) in the Armed Forces for a period of more than 180 days or having been discharged or released from active duty for a service-connected disability. Sets the amount of such credit at 40% of the first-year wages of such veterans and increases the percentage of such credit for disabled veterans based upon their disability ratings.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-05-16 00:00:00

Abusive Tax Shelter Shutdown and Taxpayer Accountability Act of 2007 - Amends the Internal Revenue Code to revise or add provisions relating to tax shelter activity, including provisions to: (1) define "economic substance" for purposes of evaluating tax shelter transactions; (2) increase penalties for large entities and high net-worth individuals for failure to disclose certain tax shelter transactions; (3) impose penalties for understatements of tax due to transactions lacking economic substance; (4) deny material tax advisors a claim of privilege as to the identity of a client; (5) revise standards for the penalty for understatement of tax liability by income tax return preparers and increase the penalties for such understatements; (6) revise and increase the penalties for frivolous tax submissions; (7) deny a tax deduction for interest on underpayments of tax due to nondisclosed reportable transactions and transactions lacking economic substance; (8) expand the authority of the Secretary of the Treasury to disallow certain tax benefits arising from the acquisition of corporate stock; (9) modify certain passive loss rules for controlled foreign corporations; and (10) provide a rule for the reduction in basis of corporate stock for which certain extraordinary dividends are received.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-05-17 00:00:00

Death Tax Repeal Permanency Act of 2007 - Makes the repeal of the estate and generation-skipping transfer taxes under the Economic Growth and Tax Reconciliation Act of 2001 permanent (under the Act, those taxes would be reinstated after December 31, 2010).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-05-24 00:00:00

Amends the Internal Revenue Code to provide for the tax treatment of a charitable remainder pet trust as a charitable remainder annuity trust. Defines "charitable remainder pet trust" as a trust which pays a specified annual amount (for a maximum term of 20 years) for the care of domesticated companion animals living at the time of creation of the trust.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-11 00:00:00

Amends the Internal Revenue Code to increase the income tax deduction for business meals and entertainment expenses from 50 to 75% of such expenses in calendar year 2007 and 80% in 2008 and thereafter.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-13 00:00:00

Children's Hope Act of 2007 - Amends the Internal Revenue Code to allow a tax credit of up to $100 ($200 for joint returns) for charitable contributions to an education investment organization that disburses 90% of its contributions to provide grants to students for elementary and secondary education expenses, if at least 50% of such disbursements go to students who qualify for free or reduced-cost school lunches. Requires a taxpayer claiming such credit, as a condition of eligibility to receive it, to first claim a state qualified scholarship tax credit.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-14 00:00:00

Amends the Internal Revenue Code to revise the definition of "passenger automobile" for purposes of the limitation on depreciation for luxury automobiles to mean any four-wheeled vehicle which is: (1) primarily designed or used to carry passengers over public streets, roads, or highways; and (2) rated at 14,000 pounds unloaded gross vehicle weight or less. Adds an exemption from such definition for certain vehicles with open cargo areas which are designed for more than nine individuals in seating rearward of the driver's seat.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-14 00:00:00

Retirement Savings for Working Americans Act - Amends Internal Revenue Code provisions relating to the tax credit for retirement savings contributions (saver's credit) to: (1) require the Secretary of the Treasury to deposit saver's credit amounts directly into the designated retirement account of the taxpayer; (2) expand income eligibility levels for the saver's credit; (3) allow taxpayers that contribute to a qualified tuition program or a Coverdell education savings account to claim such contributions as retirement savings contributions; and (4) adjust the saver's credit maximum contribution amount for inflation beginning after 2007.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-14 00:00:00

Tax Increase Prevention Act of 2007 - Repeals the general termination date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (i.e., December 31, 2010), thus making the tax reductions enacted by that Act permanent. Repeals the termination date for provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 reducing income tax rates on dividends and capital gains.Amends the Internal Revenue Code to make permanent: (1) the tax deduction for state and local sales taxes; (2) the tax deduction for tuition and related expenses; (3) the increased expensing allowance for small business assets and related provisions; and (4) the tax credit for increasing research activities. Expresses the sense of the House of Representatives that the Committee on Ways and Means should report legislation on or before December 31, 2008, to simplify the federal income tax system.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-15 00:00:00

Amends the Internal Revenue Code to allow an offset against the alternative minimum tax of alternative motor vehicle tax credit amounts.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-20 00:00:00

Generate Retirement Ownership Through Long-Term Holding Act of 2007 - Amends the Internal Revenue Code to provide that no gain shall be recognized on the receipt of a capital gain dividend distributed by a regulated investment company if such dividend is automatically reinvested in additional shares of the company pursuant to a dividend reinvestment plan.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-22 00:00:00

Amends the Internal Revenue Code to treat as ordinary income (i.e., income taxed at regular income tax rates) income received by a partner from an investment services partnership interest. 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 as to the value of specified assets (e.g., real estate, commodities, or options or derivative contracts); (2) advising the partnership about investing in, purchasing, or selling specified assets; (3) managing, acquiring, or disposing of specified assets; or (4) arranging financing with respect to acquiring specified assets.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-27 00:00:00

Homeownership Affordability Act of 2007 - Amends the Internal Revenue Code to deem qualified homeowner downpayment assistance as a charitable purpose for income, estate, and gift tax purposes. Defines "qualified homeowner downpayment assistance" as a gift of cash for the purpose of providing any downpayment for the purchase of a principal residence for a taxpayer whose modified adjusted gross income does not exceed $110,000 ($220,000 for joint returns), if: (1) such gift does not exceed 20% of 110 percent of the maximum principal obligation allowable; and (2) the purchase price of such property does not exceed 110 percent of such amount.Denies an income tax deduction to a donor of homeowner downpayment assistance who receives a direct financial benefit in connection with the purchase of a principal residence for which downpayment assistance was provided.Allows a gift tax exclusion for a homeowner downpayment gift.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-28 00:00:00

Middle Class Opportunity Act of 2007 - Amends the Internal Revenue Code to: (1) increase the child tax credit for the first year in which a child is claimed as a qualifying child; (2) expand eligibility for the dependent care tax credit and allow such credit for expenses to care for parents (and ancestors of such parents) not residing with the taxpayer; and (3) provide for an increased alternative minimum tax exemption amount through 2008Replaces the Hope and Lifetime Learning tax credits with an expanded education tax credit which provides for a 100% education tax credit for qualified tuition and related expenses (including a certain allowance for books) up to $1,000, 50% for such expenses between $1,000 and $3,000, and 20% of such expense between 3,000 and $5,500. Reduces credit amounts for taxpayers with modified adjusted gross incomes over $70,000 ($140,000 in the case of a joint tax return). Allows an inflation adjustment to credit amounts beginning after 2008.Limits such credit to three eligible students per taxpayer in any taxable year and for four taxable years. Denies such credit for certain part-time students and for students convicted of a felony drug offense. Repeals the tax deduction for qualified tuition and related expenses.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-28 00:00:00

Amends the Internal Revenue Code to repeal the restrictions on the tax deduction for the travel expenses of a taxpayer's spouse, dependent, or other individual accompanying the taxpayer on business travel.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-28 00:00:00

Amends the Internal Revenue Code to allow qualified retail improvement property a 15-year recovery period for purposes of the tax deduction for depreciation. Defines such property as any improvement to an interior portion of a building which is nonresidential real property, if: (1) such portion is open to the general public and is used in the trade or business of selling tangible personal property or services to the general public; and (2) such improvement is placed in service more than three years after the date the building was first placed in service. Excludes specified improvements, including the enlargement of a building, any elevator or escalator, or the internal structural framework of a building.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-28 00:00:00

Amends Internal Revenue Code provisions defining expatriated business entities to exclude any management or administrative activities conducted by such entities in a foreign country in determining expatriate status for income tax purposes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-28 00:00:00

Tax Relief for All Workers Act of 2007 - Amends the Internal Revenue Code to increase the rate and phaseout amounts of the earned income tax credit for taxpayers with no qualifying children.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-10 00:00:00

Middle Class Tax Relief Act of 2007- Amends the Internal Revenue Code to: (1) allow individual taxpayers with adjusted gross incomes of less than $75,000 ($150,000 for joint returns) a tax credit for 10% of their income tax; (2) eliminate income taxes for individual taxpayers with adjusted gross incomes of less than $12,500 ($25,000 for joint returns); (3) double the child tax credit for individual taxpayers with adjusted gross incomes of less than $75,000 ($150,000 for joint returns); (4) eliminate the alternative minimum tax in 2008 for certain individual taxpayers; and (5) impose an income tax surtax on individual taxpayers with adjusted gross incomes of over $500,000 ($1 million for joint returns).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-12 00:00:00

Small Business Tax Equalization and Compliance Act of 2007 - Amends the Internal Revenue Code to extend the tax credit for social security taxes paid for employee cash tips to employers of cosmetologists. Requires employers of cosmetologists to report income and tips of their cosmetologist employees and to provide income and tip information to self-employed cosmetologists to whom they pay more than $600 in the taxable year. Imposes similar reporting requirements upon individuals who rent chairs to cosmetologists. Requires such employers to provide their cosmetologist employees and self-employed cosmetologists with information on the tax and tip reporting obligations of employees and self-employed individuals.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-12 00:00:00

Farmland Relief Act of 2007 - Amends the Internal Revenue Code to double the period allowed to taxpayers for identifying and completing exchanges of like kind property for purposes of the nonrecognition of gain from such exchanges.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-23 00:00:00

Amends the Internal Revenue Code to allow certain support organizations for tax-exempt teaching hospitals to acquire debt secured by income-producing real property used to provide financial support for such hospitals.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-23 00:00:00

Amends the Internal Revenue Code to allow taxpayers to designate on their income tax returns a specified portion (not less than $1) of any income tax overpayment as a contribution to the general fund of the Treasury.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-23 00:00:00

Child Tax Credit Preservation Act of 2007 - Makes permanent the increases in the child tax credit enacted by the Economic Growth and Tax Relief Reconciliation Act of 2001, the Jobs and Growth Tax Relief Reconciliation Act of 2003, and the Working Families Tax Relief Act of 2004. Provides for an annual inflation adjustment to child tax credit amounts, beginning in 2007.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-24 00:00:00

Amends the Internal Revenue Code to require the same level of tax withholding for tax deductible payments made between persons who are members of the same foreign controlled group of entities as would be required if such payments were made directly to the foreign parent corporation of such entities.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-24 00:00:00

Capital Gains and Estate Tax Relief Act of 2007 - Makes permanent the reduction in capital gains tax rates (from 20 to 15%) enacted by the Jobs and Growth Tax Relief and Reconciliation Act of 2003.Amends the Internal Revenue Code to: (1) restore the unified credit against gift tax liability; (2) provide for annual increases in the estate tax exclusion amount between 2010 and 2015 and establish a permanent exclusion amount of $5 million for 2015 and thereafter; (3) provide for an inflation adjustment to the estate tax exclusion amount after 2015; (4) reduce estate tax rate brackets; and (5) allow a surviving spouse to use the unused unified estate tax credit of a deceased spouse.
Topic: Macroeconomics — Tax Code
Subject: Social welfare
Date: 2007-07-31 00:00:00

Amends title II (Old Age, Survivors, and Disability Insurance) of the Social Security Act to eliminate the time limitation for corrections to wage and self-employment income records.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-31 00:00:00

Repeals the provision in the Tax Increase Prevention and Reconciliation Act of 2005 which increased from 14 to 18 the age until which the unearned income of children is taxed at their parents' marginal income tax rates (thus restoring the age limit to 14).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-08-02 00:00:00

Amends the Internal Revenue Code to allow attorneys a tax deduction for expenses and court costs which they pay or incur in contingent fee cases.
Topic: Macroeconomics — Tax Code
Subject: Foreign trade and international finance
Date: 2007-08-02 00:00:00

Patriot Corporations of America Act of 2007 - Grants after 2007 a preference to Patriot corporations in the evaluation of bids or proposals for federal contracts. Defines " Patriot corporation" as a corporation which: (1) produces at least 90% of its goods and services in the United States; (2) does not pay its its management-level employees at a rate more than 10,000% of the compensation of its lowest paid employee; (3) conducts at least 50% of its research and development in the United States; (4) contributes at least 5% of its payroll to a portable pension fund for its employees; (5) pays at least 70% of its employees' health insurance costs; (6) maintains a policy of neutrality in employee organizing drives; (7) provides full differential salary and insurance benefits for all National Guard and Reserve employees who are called to active duty; and (8) has not violated federal regulations, including regulations relating to the environment, workplace safety, labor relations, and consumer protections.Amends the Internal Revenue Code to: (1) reduce the income tax rate for Patriot corporations; (2) reclassify foreign corporations created or organized to avoid federal taxation as domestic corporations for income tax purposes; and (3) increase, for the period between January 1, 2007, and December 31, 2010, the income tax rate for individual taxpayers with adjusted gross incomes of $500,000 or more ($1 million or more for joint returns).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-08-03 00:00:00

Virgin Islands Improvement Act of 2007 - Amends the Internal Revenue Code to provide for a reduction of taxes on distributions from certain retirement savings plans designated as being under investment by the Virgin Islands Investment Program for at least 30 years. Defines "Virgin Islands Investment Program" for purposes of this Act as a fund with managed amounts of less than $50 billion. Imposes a 1% annual tax on managed funds to benefit Virgin Island infrastructure development.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-08-03 00:00:00

Sales Tax Fairness and Simplification Act - Grants the consent of Congress to the Streamlined Sales and Use Tax Agreement (Agreement), the multistate agreement for the administration and collection of sales and use taxes adopted on November 12, 2002. Expresses the sense of Congress that the Agreement provides sufficient simplification and uniformity to warrant federal authorizations to states that are parties to it (member states) to require remote sellers (sellers without a physical presence in the taxing state) to collect and remit the sales and use taxes of such states and their local taxing jurisdictions.Authorizes each member state, after 10 states (comprising at least 20% of all states imposing a sales tax) have petitioned for and become member states, to require all sellers, except those sellers with gross remote taxable sales nationwide of less than $5 million, to collect and remit sales and use taxes on remote sales owed to such member state under the terms of the Agreement.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 U.S. Court of Federal Claims. Sets forth minimum simplification requirements for the Agreement.Expresses the sense of Congress that member states should work with each other 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: 2007-08-03 00:00:00

Hardest Working Americans Tax Relief Act of 2007 - Amends the Internal Revenue Code to allow individual taxpayers an exclusion from gross income for overtime pay.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-08-03 00:00:00

1031 Regulation Act of 2007 - Amends the Internal Revenue Code to require the use of a federally insured depository institution or credit union to hold cash to be used in a tax-free exchange of properties to acquire like-kind property.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-08-04 00:00:00

Requires the Secretary of the Treasury to enter into an agreement with the Free File Alliance to provide a forms-based software service for all individual taxpayers to electronically prepare and file their federal income tax returns through the Internal Revenue Service (IRS) website, free of charge, for taxable years beginning after 2007.Requires the Free File Alliance to meet certain standards promulgated by the federal government for business responsibility and commerciality of products or services.Prohibits the Secretary from implementing a return-free tax system for taxable years beginning after 2007, unless authorized to do so by an Act of Congress.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-09-05 00:00:00

Amends the Internal Revenue Code to increase the unified credit against the estate and gift tax to $5 million after 2009 and to adjust such amount for inflation for estates opened after 2010.Restores previous estate tax and carryover basis provisions temporarily repealed by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Modifies the general termination date of such Act (i.e., December 31, 2010) as it applies to certain EGTRRA estate and gift tax provisions.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-09-07 00:00:00

Surface Transportation and Taxation Equity Act or STATE Act - Amends the Internal Revenue Code to reduce the federal excise tax on gasoline and special fuels (but not below two cents per gallon) by corresponding increases in fuel taxes imposed by States after March 5, 2007.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-09-17 00:00:00

Restore American Dream Act of 2007 - Amends the Internal Revenue Code to establish tax-exempt homeownership plans. Allows a tax deduction from gross income for cash contributions to such plans. Defines "homeownership plan" as a trust established for the exclusive purpose of paying the costs (e.g., downpayment, interest, mortgage insurance, closing costs, etc.) of acquiring a principal residence by an individual who has never owned a principal residence. Excludes from gross income distributions from a homeownership plan used to pay the costs of acquiring a principal residence. Sets forth rules governing: (1) transfers of an interest in a plan due to death or divorce; (2) penalties for making distributions from a plan for purposes other than to acquire a principal residence; and (3) employer homeownership plans established for the benefit of their employees.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-09-18 00:00:00

Property Tax Relief Act of 2007 - Amends the Internal Revenue Code to allow state and local real property taxes paid on a principal residence as a deduction from gross income (thus allowing taxpayers who do not itemize their tax deductions to claim such deduction).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-09-19 00:00:00

Amends the Internal Revenue Code to allow a tax credit for qualifying biomaterial produced by a taxpayer for business use. Limits the annual amount of such credit to $125 million. Defines "qualifying biomaterial" as a commercial or industrial product produced by chemically or biologically transforming feedstocks at least 75% of which are used to produce organic matter available on a renewable or recurring basis.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-09-19 00:00:00

American Middle Class Tax (AMT) Relief Act of 2007 - Amends the Internal Revenue Code to extend through 2007: (1) the increased alternative minimum tax exemption amounts for individual taxpayers; and (2) the increased amount allowed for certain nonrefundable income tax credits.