jiayi-li23/proxann_data huggingface dataset:
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-03-03 00:00:00

Interest for Others Act of 2016 

This bill amends the Internal Revenue Code to allow individuals, trusts, or estates to exclude from gross income up to $50 of interest and money market fund dividend income that is contributed to charity using a program adopted by a financial institution or a money market fund.

Details regarding the payments to charities must be reported to the Internal Revenue Service by any person that: (1) pays certain interest or dividends and has a charitable contribution program, or (2) is an aggregator that receives contributions and makes payments to charities under a program.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-03-22 00:00:00

No Tax Subsidies for Stadiums Act 

This bill amends the Internal Revenue Code to prohibit the use of tax-exempt state and local financing bonds for a professional entertainment facility. A professional entertainment facility is a facility that is used during any five days in a calendar year as: (1) a stadium or arena for professional sports exhibitions, games, or training; or (2) a venue for any entertainment event which has a live audience exceeding 100 individuals and the net earnings from which benefit an individual or entity other than a governmental entity or a tax-exempt organization.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-04-11 00:00:00

Technical Corrections Act of 2016 

This bill makes technical and clerical amendments to:

 the Protecting Americans From Tax Hikes Act of 2015; the Consolidated Appropriations Act, 2016; the Fixing America's Surface Transportation Act; the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015; the Stephen Beck, Jr., ABLE Act of 2014; the American Taxpayer Relief Act of 2012; the United States-Korea Free Trade Agreement Implementation Act; and other specified provisions of the Internal Revenue Code. The bill also amends various provisions in the Internal Revenue Code that are not used in computing current tax liabilities (referred to as deadwood provisions).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-04-20 00:00:00

Sensible Estate Tax Act of 2016 

This bill amends the Internal Revenue Code to modify the estate and gift taxes. For the estate tax, the bill increases the rates and decreases the amount that is excluded from the tax. For the gift tax, the bill establishes a separate lifetime exclusion amount. (Under current law, the estate and gift taxes share a unified exclusion amount.)
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-05-10 00:00:00

Research and Experimentation Advances Competitiveness at Home Act of 2016 or the REACH Act of 2016 

This bill amends the Internal Revenue Code to increase the alternative simplified tax credit for research expenses to 20% from the existing rate of 14% (12% for years ending before January 1, 2009).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-06-03 00:00:00

Middle Class College Tuition Tax Credit Expansion Act of 2016

This bill amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that:

 allows an increased income tax credit for the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, allows a lifetime dollar limitation on such credit of $25,000 for all taxable years, prohibits taxpayers who have fraudulently or recklessly claimed the credit from receiving the credit during a specified disallowance period, and makes 50% of the credit refundable. The bill also allows an exclusion from gross income of any amount received as a Federal Pell Grant.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-07-06 00:00:00

This bill amends the Internal Revenue Code to treat any qualified ride-sharing service provided after the date of the enactment of this bill and before June 1, 2017, as a qualified transportation fringe benefit that is excluded from an employee's gross income.

A qualified ride-sharing service is transportation provided through a transportation network company if:

 the transportation is in connection with travel between the employee's residence and place of employment, both of which are located within the Washington Metropolitan Area; the employee is an employee of a government agency and receives transit benefits from the agency; and the transportation is through the use of services that utilize innovative mobility technologies to provide alternatives to driving alone. The benefit is subject to a limit on the aggregate amount of certain transportation fringe benefits that may be excluded from gross income.

During the period beginning with the enactment of this bill and ending on the earlier of June 1, 2017, or the completion of the Washington Metropolitan Area Transit Authority's maintenance program (commonly referred to as "SafeTrack"), agencies that provide transit benefits to employees must provide benefits for using transportation network companies within the Washington Metropolitan Area in the same manner as benefits are provided for using public transportation services in the area.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-07-14 00:00:00

Extra Credit for Working Students Act of 2016 

This bill amends the Internal Revenue Code to allow a taxpayer to accelerate the American Opportunity Tax Credit for qualified tuition and related expenses. A taxpayer may elect to receive the full amount of the credit over the first two years of postsecondary education rather than the four-year period required under current law. Such an election is irrevocable, applies for all subsequent tax years, and may not be made for any taxable year beginning after December 31, 2022.

The Department of the Treasury must submit to Congress reports that include: the election rate, the demographics of the students making the elections, and an assessment of the effectiveness of the elections and the tax credit in improving college completion times.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-07-14 00:00:00

No Loopholes in Social Security Taxes Act

This bill amends the Internal Revenue Code to apply payroll and self-employment taxes to remuneration up to the Social Security contribution and benefit base and to remuneration in excess of $250,000.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-09-28 00:00:00

Retirement Inflation Protection Act of 2016 

This bill amends the Internal Revenue Code to allow the adjusted basis of certain assets (including common stock in a C corporation and tangible property used in a trade or business) to be indexed for inflation for the purpose of determining the gain or loss of individuals who: (1) have held the asset for more than 3 years, and (2) have attained the age of 59-1/2 as of the date of the sale or other disposition of the asset.

The bill sets forth rules for applying the inflation adjustment to short sales, dispositions between related persons, and improvements to property or contributions of capital.

The Internal Revenue Service may disallow an adjustment if any person transfers cash, debt, or any other property to another person for the principal purpose of securing or increasing the adjustment allowed by this bill.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-09-28 00:00:00

Preserving America's Downtowns and Heritage Act of 2016

This bill amends the Internal Revenue Code to: (1) increase the rate of the rehabilitation tax credit for commercial buildings and for certified historic structures, and (2) allow a new 20% rehabilitation tax credit for certified historic buildings used by a taxpayer as a principal residence.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-12-06 00:00:00

Tax Technical Corrections Act of 2016 

This bill makes technical and clerical amendments to:

 the Protecting Americans From Tax Hikes Act of 2015; the Consolidated Appropriations Act, 2016; the Fixing America's Surface Transportation Act; the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015; the Stephen Beck, Jr., ABLE Act of 2014; the American Taxpayer Relief Act of 2012; the United States-Korea Free Trade Agreement Implementation Act; the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU); the American Jobs Creation Act of 2004; provisions of the Internal Revenue Code related to partnership audit rules; the Bipartisan Budget Act of 2015; the Energy Policy Act of 2005; and other specified provisions of the Internal Revenue Code. The bill also amends various provisions in the Internal Revenue Code that are not used in computing current tax liabilities (referred to as deadwood provisions).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2016-11-16 00:00:00

Retirement Security Preservation Act of 2016 

This bill amends the Internal Revenue Code to modify the nondiscrimination requirements for certain defined benefit retirement plans that limit participation or certain features to a closed class, such as individuals who were hired before a certain date.

(Under current law, the plans may not discriminate in favor of highly compensated employees and must meet minimum participation requirements.)

The bill applies only to a defined benefit plan that: (1) closed before September 21, 2016; or (2) was in effect for at least five years when it closed and did not substantially increase the coverage or value of the benefits, rights, or features for the closed class during the five-year period before it closed, except as the result of certain business acquisitions or mergers.

Such a plan meets the nondiscrimination requirements if it: (1) satisfies certain testing rules for the year that the class closes and the two succeeding plan years, and (2) is not amended in a discriminatory manner after the class is closed.

A defined contribution plan that offers additional contributions or benefits to a closed class whose benefits under a defined benefit plan have been reduced or eliminated meets the nondiscrimination requirements if: (1) the group receiving the contributions or benefits satisfies certain testing rules for the year in which the group is closed and for two subsequent plan years, and (2) the plan is not amended in a discriminatory manner.

A defined benefit plan that is either closed or has ceased benefit accruals for all participants (frozen plan) satisfies the minimum participation requirements if the plan met the requirements when it was closed or frozen.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-08 00:00:00

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.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-13 00:00:00

Fair Tax Act of 2015

This bill is a tax reform proposal that imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income and corporate income tax, employment and self-employment taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2017, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property, for property or services purchased for business, export, or investment purposes, and for state government functions.

Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines.

The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury.

Tax revenues are to be allocated 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.

No funding is allowed for the operations of the Internal Revenue Service after FY2019.

Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this Act.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-01-13 00:00:00

Paying a Fair Share Act of 2015

 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 2016.

Expresses the sense of the Senate that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-04 00:00:00

Small Brewer Reinvestment and Expanding Workforce Act or the Small BREW Act

Amends the Internal Revenue Code to reduce the rate of the excise tax on beer produced within or imported into the United States for brewers who produce not more than 6 million barrels of beer a year.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-05 00:00:00

Depreciation Fairness Act of 2015 

This bill amends the Internal Revenue Code to make permanent the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property for purposes of the tax deduction for depreciation.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-02-10 00:00:00

Internet Tax Freedom Forever Act

 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: 2015-02-26 00:00:00

New Markets Tax Credit Extension Act of 2015

Amends the Internal Revenue Code to: (1) make permanent the new markets tax credit, (2) provide for an inflation adjustment to the limitation amount for such credit after 2014, and (3) allow an offset against the alternative minimum tax for such credit (determined with respect to qualified equity investments initially made after the enactment of this Act).
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-03-10 00:00:00

American Opportunity Tax Credit Permanence and Consolidation Act of 2015

Amends the Internal Revenue Code to replace the Hope Scholarship and Lifetime Learning tax credits with a new American Opportunity Tax Credit that: (1) allows an income tax credit of up to $3,000 of the qualified tuition and related expenses of a student who is carrying at least one half of a normal course load, (2) increases the income threshold for reductions in the credit amount based upon modified adjusted gross income, (3) imposes a lifetime dollar limitation on such credit of $15,000 for all taxable years, and (4) makes a portion of the credit refundable. Allows an exclusion from gross income of any amount received as a Federal Pell Grant.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-03-19 00:00:00

Fair Brewers Excise and Economic Relief Act or the Fair BEER Act 

This bill amends the Internal Revenue Code to revise the excise tax on beer brewed or produced, and removed for consumption or sale, within the United States or imported into the United States. The revised tax ranges from $0 for an amount not exceeding 7,143 barrels to $18 per barrel on an amount exceeding 2 million barrels.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-03-24 00:00:00

Digital Goods and Services Tax Fairness Act of 2015

Prohibits a state or local jurisdiction from imposing multiple or discriminatory taxes on the sale or use of a digital good or service delivered or transferred electronically to a customer. Excludes from the definition of "digital service" a service that is predominantly attributable to the direct, contemporaneous expenditure of live human effort, skill, or expertise, a telecommunications service, an ancillary service, an Internet access service, an audio or video programming service, or a hotel intermediary service.

Restricts taxation of a digital good or service to taxation by a state or local jurisdiction whose territorial limits encompass a customer tax address, as defined by this Act. Makes the seller of digital goods or services responsible for obtaining and maintaining such address. Provides for the taxation of digital goods and services transactions that are aggregated and not separately stated.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-03-25 00:00:00

Death Tax Repeal Act of 2015

Amends the Internal Revenue Code to: (1) repeal the estate and generation-skipping transfer taxes, and (2) make permanent the maximum 35% gift tax rate and the lifetime gift tax exemption. Provides for an inflation adjustment to such exemption amount.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-04-14 00:00:00

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Craft Beverage Bond Simplification Act of 2015 

(Sec. 2) This bill allows taxpayers who are liable for not more than $50,000 per year in excise taxes on distilled spirits, wine, or beer to file and pay such taxes quarterly without the requirement to post a bond covering the operations and withdrawals of such distilled spirits, wines, or beer. The bill also allows such a taxpayer who reasonably expects to have a tax liability of not more than $1,000 per year and who was liable for not more than $1,000 in taxes in the preceding calendar year to file and pay such taxes annually rather than quarterly. Makes this Act effective 90 days after its enactment.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-04-14 00:00:00

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Cider Investment and Development through Excise Tax Reduction (CIDER) Act 

(Sec. 2) Amends the Internal Revenue to revise the definition of "hard cider," for purposes of the excise tax on distilled spirits, wines, and beer, to mean a wine: (1) containing not more than .64 gram of carbon dioxide per hundred milliliters of wine (subject to necessary tolerances); (2) which is derived primarily from apples, apple juice concentrate, pears, or pear juice concentrate, and water; (3) which contains no fruit product or fruit flavoring other than apple or pear; and (4) which contains at least one-half of 1% and less than 8.5% alcohol by volume.

(Sec. 3) Increases from 30% to 35% the rate of the continuous levy on payments to Medicare providers or suppliers for unpaid taxes.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-04-14 00:00:00

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Philanthropic Enterprise Act of 2015

(Sec. 2) 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 for the charitable purpose (all profits to charity), and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise tax on excess business holdings, in taxable years beginning after 2014. Makes such exemption inapplicable to donor advised funds or supporting organizations that are subject to excess business holdings rules and certain charitable and split interest trusts.
Topic: Macroeconomics — Tax Code
Subject: Taxation
Date: 2015-04-14 00:00:00

Simplified, Manageable, And Responsible Tax Act or the SMART Act

 Amends the Internal Revenue Code to replace the marginal income tax rates with a single rate of 17% 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 17% 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 17% 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: 2015-04-16 00:00:00

Angel Tax Credit Act

Amends the Internal Revenue Code to allow a new business-related tax credit for 25% of equity investments of $25,000 or more in a domestic corporation or partnership that: (1) has its headquarters in the United States, (2) has gross revenues for the taxable year of less than $1 million, (3) employs fewer than 25 full-time employees, (4) has been in existence for less than 7 years as of the date of the investment, (5) has more than 50% of its employees performing substantially all of their services in the United States, and (6) is engaged in a high technology trade or business. Limits the allowable amount of such credit to $250,000 in any taxable year and imposes an overall limitation on such credit of $500 million for each of calendar years 2015 through 2019.