Teacher:In this task, you are given a summary for US Congressional and California state bill, your task is to generate a Title for this bill. The preferred titles are under forty words and mention the purpose of the bill.
Teacher: Now, understand the problem? Solve this instance: American Jobs First Act of 2011 - Amends the Internal Revenue Code to extend the election to deduct dividends received by a domestic corporationfrom acontrolled foreigncorporation. Increases the amount of such deduction by increases in the payroll of the domestic corporation over the previous taxable year. Requires the Secretary of the Treasury to provide, by regulations, for a recapture of any portion of the increased tax deduction allowed to a domestic corporation if such corporation'spayroll decreases during either of the two taxable years following the taxable year in which the increased deductionwas allowed.
Student:
To amend the Internal Revenue Code of 1986 to allow temporarily a reduced rate of tax with respect to repatriated foreign earnings.