jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-03-28 00:00:00

Retirement Security for Life Act of 2007 - Amends the Internal Revenue Code to allow an exclusion from gross income for 50 percent of the amount otherwise includible in gross income as guaranteed payments from certain annuity or life insurance contracts. Limits the amount of such exclusion to $20,000 in any taxable year. Provides for an inflation adjustment of the $20,000 limitation beginning in 2009.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-03-29 00:00:00

Fair Tax Act of 2007 - Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2007. Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23% in 2009, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes and for state government functions. Sets forth rules relating to: (1) the collection and remittance of the sales tax; and (2) credits and refunds. Allows families a sales tax rebate.Grants states the primary authority for the collection of sales tax revenues and the remittance of such revenues to the Treasury. Sets forth administrative provisions relating to: (1) the filing of monthly reports and payments of tax; (2) accounting methods; (3) registration of sellers of goods and services responsible for reporting sales; (4) penalties for noncompliance; and (5) collections, appeals, and taxpayer rights. Directs the Secretary of the Treasury to allocate sales tax revenues among: (1) the general revenue; (2) the old-age and survivors insurance trust fund; (3) the disability insurance trust fund; (4) the hospital insurance trust fund; and (5) the federal supplementary medical insurance trust fund. Prohibits the funding of the Internal Revenue Service (IRS) after FY 2011. Establishes in the Department of the Treasury: (1) an Excise Tax Bureau to administer excise taxes not administered by the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF); and (2) a Sales Tax Bureau to administer the national sales tax.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-03-29 00:00:00

Tax Simplification Act of 2007 - Amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 19 percent (17 percent after December 31, 2009) on individual taxable income. Redefines "taxable income" to mean the amount by which wages, retirement distributions, and unemployment compensation exceed the standard deduction. Increases the basic standard deduction and includes an additional standard deduction for dependents. Includes in taxable income the taxable income of each dependent child under the age of 14. Replaces the current tax on corporations with a tax on every person engaged in a business activity equal to 19 percent (17 percent after December 31, 2009) of the business taxable income of such person. Makes the person engaged in the business activity liable for the tax, whether or not such person is an individual, a partnership, or a corporation. Imposes a tax of 19 percent (17 percent after December 31, 2009) on the value of excludable compensation provided during the year by an employer for the benefit of employees. Makes the employer liable for the tax. Repeals pension plan rules relating to : (1) non-discrimination; (2) contribution limits; and (3) restrictions on distributions. Revises rules relating to transfers of excess pension assets. Repeals: (1) the alternative minimum tax; (2) all income tax credits; (3) estate, gift, and generation-skipping transfer taxes; and (4) income tax provisions, except certain provisions relating to retirement distributions and tax-exempt organizations. Declares it not in order in the House of Representatives or the Senate, unless waived or suspended by a three-fifths vote, to consider any legislation that increases or adds an income tax rate, reduces the standard deduction, or provides any exclusion, deduction, credit, or other benefit that reduces federal revenues.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-03-29 00:00:00

Free Internet Filing Act - Directs the Secretary of the Treasury to enable individual taxpayers to file their income tax returns directly through the Internal Revenue Service website without the use of any intermediary.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-10 00:00:00

Flat Tax Act of 2007 - Replaces the income tax with a flat tax of 20 percent of taxable earned income of individual taxpayers. Defines "taxable earned income" as the excess of earned income (wages, salaries, professional fees) over a standard deduction, a deduction for cash charitable contributions, and a deduction for home mortgage interest. Sets forth definitions and special rules for surviving spouses, heads of household, and dependents.Imposes a flat tax of 20 percent on business taxable income. Defines "business taxable income" as gross active income (other than investment income) reduced by: (1) the cost of business inputs (cost of specified goods, services, travel, and entertainment expenditures); (2) employee compensation; and (3) the cost of personal and real property used in business activities. Disallows a deduction from gross active business income for purchases of goods and services provided to employees or owners and certain lobbying and political expenditures.Repeals: (1) estate, gift, and generation-skipping transfer taxes; (2) financing of presidential election campaigns provisions; and (3) coal industry health benefits provisions.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-16 00:00:00

Fair Flat Tax Act of 2007 - Amends the Internal Revenue Code with respect to individual taxpayers to: (1) reduce to three (15, 25, and 35%) the number of income tax brackets for married and single taxpayers; (2) repeal tax rate reductions for capital gains and dividend income; (3) allow a health care standard deduction and increase the basic standard tax deduction; (4) allow a refundable tax credit for state and local income, sales, and real and personal property taxes; (5) revise the earned income and child tax credits for taxpayers with no children; (6) repeal the alternative minimum tax for individual taxpayers; and (7) repeal certain tax credits, deductions, and exclusions after 2007. Imposes a flat tax of 35 percent on corporate taxable income. Allows a limited tax deduction for use of a corporate aircraft. Terminates certain preferential tax provisions for domestic and foreign corporations and large oil companies.Increases or imposes new penalties for understatements of tax, failure to report tax information, and failure to file tax returns or pay tax. Sets forth rules for the application of the economic substance doctrine to transactions with tax significance. Imposes penalties for underpayments of tax due to transactions lacking economic substance.Denies a tax deduction for payment of punitive damages.Terminates this Act after 2012.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-17 00:00:00

Tax Lien Simplification Act - Amends the Internal Revenue Code to revise procedures for the filing of federal tax liens. Direct the Secretary of the Treasury to establish and maintain a federal tax lien registry, in lieu of filing tax liens in local jurisdictions, which would be accessible to and searchable by the public through the Internet at no cost. Establishes the priority of a federal tax lien based upon the date and time of the filing of a notice of lien in the federal tax lien registry. Reduces the period for releasing satisfied or unenforceable tax liens from 30 to 10 days.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-17 00:00:00

Legal Services Benefit Act of 2007 - Amends the Internal Revenue Code to restore, increase, and make permanent the exclusion from gross income for amounts received under qualified group legal services plans.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-17 00:00:00

Taxpayer Abuse Prevention Act - Amends the Internal Revenue Code to provide that advance payments of the earned income tax credit are not transferable or assignable or subject to the claims of any creditors, except outstanding claims of the federal government.Prohibits: (1) the collection of a debt from a debtor's federal tax refund by means of a refund anticipation loan; and (2) mandatory arbitration as a condition of providing a refund anticipation loan.Terminates the Department of the Treasury Debt Indicator Program. Excludes tax returns that have been filed subject to a refund anticipation loan from any determination of whether goals for electronic filing of tax returns have been met.Allows earned income tax credit benefits to be paid through electronic transfer accounts. Directs the Secretary of the Treasury to: (1) develop and implement a program to encourage the greater use of the advance earned income tax credit; and (2) enter into cooperative agreements with federally insured depository institutions to provide low- and moderate-income taxpayers with the option of establishing low-cost direct deposit accounts using appropriate tax forms.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-18 00:00:00

Working American Competitiveness Act - Amends the Internal Revenue Code to allow a taxpayers to elect to exclude from gross income, without limitation, earned income (i.e., income for services performed) from sources within a foreign country.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-24 00:00:00

Tax Depreciation, Modernization, and Simplification Act of 2007 - Amends the Internal Revenue Code to: (1) authorize the Secretary of the Treasury to modify or create new class lives for depreciable business assets that reasonably reflect anticipated useful life and decline in value; (2) eliminate the mid-quarter accounting convention for determining depreciation; (3) allow an election to consolidate, in a mass asset account, the accounting of depreciable properties that each cost less than $10,000; and (4) extend permanently the $100,000 expensing allowance for depreciable business assets.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-25 00:00:00

Taxpayer Protection and Assistance Act of 2007 - Amends the Internal Revenue Code to authorize the Secretary of the Treasury to: (1) make grants for tax return preparation clinics for low-income taxpayers; (2) allow enrolled agents licensed to practice before the Internal Revenue Service (IRS) to use designation of "EA" or "E.A."; (3) regulate and test paid income tax preparers; (4) contract for the development or administration of examinations for paid income tax preparers; (5) require the registration of refund anticipation loan facilitators; and (6) award demonstration project grants to assist low-income taxpayers without bank accounts to obtain such accounts with federally-insured depository institutions.Establishes in the IRS the Office of Professional Responsibility to administer the regulation of paid income tax preparers. Requires such Office to make public any sanctions imposed on such preparers.Requires refund anticipation loan facilitators to make specified disclosures to taxpayers about refund loan transactions.Grants the National Taxpayer Advocate authority to issue taxpayer assistance orders in cases involving closing agreements and compromises.Grants the Secretary authority to consider all facts and circumstances involving a taxpayer in evaluating an offer in compromise of tax liability.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-25 00:00:00

Reimbursing Our American Drivers (ROAD) Act of 2007 - Increases to 60 cents per mile, for the period after December 31, 2006, and before January 1, 2008: (1) the standard mileage rate for calculating the tax deduction for business, medical, and moving use of an automobile; and (2) the standard mileage rate for reimbursement of federal employee automobile expenses. Increases from 14 to 30 cents per mile the standard mileage rate for purposes of computing the tax deduction for the use of a passenger automobile for charitable purposes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-04-26 00:00:00

New Markets Tax Credit Extension Act of 2007 - Amends the Internal Revenue Code to: (1) extend the new markets tax credit through 2013; and (2) provide for an inflation adjustment to the limitation amount for such credit after 2008.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-05-03 00:00:00

Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-05-03 00:00:00

Amends the Internal Revenue Code to direct the Secretary of the Treasury, upon receiving notice from a state judicial agency that a named person owes a past-due, legally enforceable state judicial debt, to pay such debt from any tax refund due to such person.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-05-10 00:00:00

Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-05-16 00:00:00

Smart Buildings Act - Amends the Internal Revenue Code to allow a 20-year depreciation recovery period, calculated on a straight line basis, for property that is part of a heating, ventilation, air conditioning, or refrigeration system, or which replaces one or more components of such a system, if such system or such replacement component: (1) exceeds by at least 10 percent the applicable minimum performance standard under the National Appliance Energy Conservation Act of 1987, the Energy Policy Act of 2005, or the American Society of Heating, Refrigerating and Air-Conditioning Engineers Standard 90.1; (2) is placed in service before January 1, 2012; and (3) is installed in nonresidential or residential rental buildings.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-05-23 00:00:00

ITFA Extension Act of 2007 - Amends the Internet Tax Freedom Act to extend until November 1, 2011: (1) the ban on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce; and (2) provisions allowing states with Internet tax laws enacted prior to the ban to continue enforcing such laws.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-07 00:00:00

Personal Philanthropy Account Act of 2007 - Amends the Internal Revenue Code to allow a tax deduction (whether or not the taxpayer itemizes deductions) for cash contributions to a personal philanthropy account. Defines "personal philanthropy account" as a tax-exempt trust created to make distributions for charitable purposes. Sets forth rules providing for employer contributions to such accounts, default charitable distributions in the event of an account holder's death, and minimum annual distributions.Allows an exclusion from the gross income of an employee for contributions made by an employer to the employee's personal philanthropy account.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-11 00:00:00

Recycling Investment Saves Energy or the RISE Act - Amends the Internal Revenue Code to allow: (1) a first-year tax deduction of 50% of the adjusted basis of qualified reuse and recycling property; and (2) tax-exempt bond financing for recycling facilities. Defines "qualified reuse and recycling property" as property placed in service after December 31, 2006, which has a useful life of at least five years and which is used exclusively to collect, distribute, or recycle certain scrap materials.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-12 00:00:00

Refinery Investment Tax Assistance Act of 2007 - Amends the Internal Revenue Code to allow: (1) for the expensing of the entire cost of certain liquid fuels refinery property (currently, only 50% of such cost can be expensed); and (2) a five-year recovery period for the depreciation of certain petroleum refining property.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-14 00:00:00

Amends the Internal Revenue Code to allow a five-year depreciation recovery period for certain farming business machinery or equipment placed in service before January 1, 2010.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-06-28 00:00:00

Business Activity Tax Simplification Act of 2007 - Expands the federal prohibition against state taxation of interstate commerce to: (1) include taxation of out-of-state transactions involving all forms of property, including intangible personal property and services (currently, only sales of tangible personal property are protected); and (2) prohibit state taxation of an out-of-state entity unless such entity has a physical presence in the taxing state. Sets forth criteria for determining that a person has a physical presence in a state.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-12 00:00:00

Small Business Payroll Protection Act of 2007 - Amends the Internal Revenue Code to require the Secretary of the Treasury to establish a registration system for payroll tax deposit agents (defined as any person that provides payroll processing or tax filing and deposit service to one or more employers). Requires such agents to: (1) submit a bond or to submit to quarterly third-party certifications; (2) make certain disclosures to their clients concerning liability for payment of employment taxes; and (3) pay penalties for failing to collect or pay over employment taxes or for attempting to evade or defeat payment of such taxes.Requires the Secretary of the Treasury to: (1) issue a notice of confirmation of any address change for an employer making employment tax payments; and (2) send such notice to both the employer's former and new address.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-17 00:00:00

Amends the Internal Revenue Code to increase the excise tax rate on small cigars to $19.50 per thousand (the same rate as for small cigarettes).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-23 00:00:00

Saving Families First Alternative Minimum Tax Relief Act of 2007 - Amends the Internal Revenue Code to allow: (1) the tax deduction for personal exemptions in determining the alternative minimum taxable income of individual taxpayers; and (2) an inflation adjustment for alternative minimum tax exemption and phaseout amounts for individual taxpayers beginning after 2007.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-07-23 00:00:00

AMT Penalty Protection Act of 2007 - Amends the Internal Revenue Code to exempt taxpayers who did no owe alternative minimum tax in a preceding taxable year from penalties for failure to pay estimated tax on alternative minimum tax liabilities for the current taxable year.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-08-02 00:00:00

Patriot Employers Act - Amends the Internal Revenue Code to allow a taxpayer certified as a Patriot employer by the Secretary of the Treasury a tax credit for one percent of such employer's taxable income. Defines a "Patriot employer" as any taxpayer who: (1) maintains its headquarters in the United States; (2) pays at least 60% of the health care premiums of its employees; (3) observes a policy requiring neutrality in employee organizing drives; (4) maintains or increases the number of its full-time workers in the United States relative to its full-time workers outside of the United States; (5) provides full differential salary and insurance benefits for all National Guard and Reserve employees called to active duty; and (6) provides its employees with a certain level of compensation and retirement benefits.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-08-03 00:00:00

Amends the Internal Revenue Code to exclude from the gross estate of a decedent the value of farmland used by an heir of the decedent for farming purposes. Imposes a recapture tax on an heir who disposes of such farmland after the decedent's death or who ceases to use it for farming purposes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-08-03 00:00:00

Amends the Internal Revenue Code to reduce from $18 to $9 (its pre-1991 level) the per-barrel tax on beer.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-08-03 00:00:00

REIT Investment Diversification and Empowerment Act of 2007 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of a REIT's total assets thay may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; (4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and (5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-09-19 00:00:00

Homeowner Tax Fairness Act of 2007 - Amends the Internal Revenue Code to allow an additional standard tax deduction (available to taxpayers who do not itemize) for state and local real property taxes.
Topic: Macroeconomics — Tax Code
Subject: Social welfare
Date: 2007-09-26 00:00:00

Farmer Tax Fairness Act of 2007 - Amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to revise the optional method of computing the net earnings of self-employed individuals for purposes of determining social security benefit eligibility. Replaces the numerical formula for determining benefit eligibility with an indexed calculation based on a lower limit (the amount required under the Social Security Act for a quarter of coverage) and an upper limit (150 percent of the lower limit).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-10-02 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: 2007-10-02 00:00:00

Permanent Internet Tax Freedom Act of 2007 - Amends the Internet Tax Freedom Act to make permanent the ban on state and local taxation of Internet access and on multiple or discriminatory taxes on electronic commerce.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2007-10-04 00:00:00

Local Officials Tax Relief Act of 2007 - Amends the Internal Revenue Code and Title II (Old Age, Survivors, and Disability Insurance) of the Social Security Act to exempt from social security taxes remuneration paid to any elected or appointed member of any general governing board, commission, or committee of any political subdivision of a state if such remuneration is not more than $1,300 and is paid for service performed on or after January 1, 2008.