zli12321/Bills huggingface dataset:
National Emergency Employment Defense Act of 2010 - Replaces Federal Reserve notes with United States Money. Instructs the Secretary of the Treasury to originate United States Money to address any negative fund balances resulting from a shortfall in available government receipts to fund government appropriations. Subjects to criminal and civil penalties any person who creates or originates United States Money by lending against deposits through "fractional reserve banking." Prohibits borrowing by the Secretary or by any federal agency or department, independent establishment of the executive branch, or any other instrumentality of the United States (other than a national bank, federal savings association, or federal credit union) from any source other than the Secretary. Requires the Secretary to begin to retire all outstanding instruments of U.S. indebtedness by payment in full of the amount legally due the bearer in United States Money. Prescribes requirements for the entry of United States Money into circulation. Directs the Secretary to purchase all net assets in the Federal Reserve System, including the Federal reserve banks. Requires return to any member bank in the form of United States Money of any reserves held by any Federal reserve bank. Establishes: (1) the Monetary Authority to establish monetary supply policy and monitor the nation's monetary status; (2) the Bureau of the Federal Reserve to administer the origination and entry into circulation of United States Money; (3) the Emergency Board to recommend to Congress when a national emergency requires the President to issue a certification of emergency for the exercise of authority by the Monetary Authority as lender of last resort; and (4) a revolving loan fund in the Treasury for relending to banking institutions. Sets forth a conversion process to replace fractional reserve banking with the lending of United States Money. Sets a ceiling on interest rates. Requires the Monetary Authority to instruct the Secretary to disperse monetary grants to states for public infrastructure, education, health care and rehabilitation, pensions, and paying for unfunded federal mandates. Directs the Secretary to make recommendations to Congress for payment of a tax-free Citizens Dividend to all U.S. citizens residing in the United States in order to provide liquidity to the banking system at the commencement of this Act, before governmental infrastructure expenditures have had a chance to work into circulation. Prescribes requirements for federal funding of education programs, coverage of any deficits in Social Security Trust Fund account, a universal health care plan, resolution of aspects of the mortgage crisis, and a program of interest-free lending of United States Money to state and local governmental entities.

Date: 2010-12-17
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Amends the Internal Revenue Code to make permanent the election to deduct state and local sales taxes in lieu of state and local income taxes.

Date: 2009-01-07
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Strengthen the Earned Income Tax Credit Act of 2009 - Amends the Internal Revenue Code to: (1) make permanent the reduction in the marriage penalty applicable to the earned income tax credit; (2) increase the rate of such credit for families with three or more children and for individuals without children; (3) modify earned income tax credit requirements relating to abandoned spouses and qualifying children; and (4) repeal provisions denying such credit for individuals with excessive investment income.

Date: 2009-01-07
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to allow an exclusion from gross income for income attributable to the discharge of indebtedness relating to securities issued by certain financial entities and discharged after December 31, 2008, and before January 1, 2011.

Date: 2009-01-06
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Permanent Internet Tax Freedom Act of 2009 - 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.

Date: 2009-01-06
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to treat income earned by mutual funds from interests holding certain gold, silver, platinum, or palladium bullion that are regularly traded on an established U.S. securities market as qualifying income (i.e., passed through and taxed at individual income tax rates).

Date: 2009-01-06
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Telephone Excise Tax Repeal Act of 2009 - Amends the Internal Revenue Code to repeal the excise tax on communication services (i.e., local telephone service, toll telephone service, and teletypewriter exchange service).

Date: 2009-01-06
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Modernize Our Bookkeeping In the Law for Employee's Cell Phone Act of 2009 - Amends the Internal Revenue Code to remove certain limitations on the tax deduction for employee use of cellular telephones.

Date: 2009-01-06
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Expresses the sense of Congress that it is necessary to ensure that Congress is presented with reliable information from the Congressional Budget Office (CBO) and the Joint Committee on Taxation as to the dynamic macroeconomic feedback effects to changes in federal law and the probable behavioral responses of taxpayers, businesses, and other parties to such changes. Requires the Joint Committee and CBO, using among other methods dynamic estimating techniques, to prepare fiscal estimates of each proposed change in federal revenue law on the basis of assumptions that estimate the probable behavioral responses of personal and business taxpayers and other relevant entities to such change and its dynamic macroeconomic feedback effects. Applies such requirement only to proposed changes that, pursuant to static fiscal estimates, have a fiscal impact exceeding $250 million in any fiscal year.

Date: 2009-01-06
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Amends the Internal Revenue Code to extend through 2010 the additional standard tax deduction for real property taxes for taxpayers who do not itemize their tax deductions.

Date: 2009-01-12
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to make permanent: (1) the special depreciation allowance for certain property acquired after December 31, 2007 (bonus depreciation); and (2) the increased $250,000 expensing allowance for depreciable business assets.

Date: 2009-01-14
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to provide that volunteers who use their automobiles for the benefit of a charitable organization may exclude from their gross income reimbursements for their automobile operating expenses at the same level as business employees (i.e., 55 cents per mile in 2009). Increases criminal sanctions and monetary penalties for: (1) underpayments or overpayments of tax due to fraud; (2) attempts to evade or defeat tax; (3) willful failure to file tax returns, supply information, or pay tax; and (4) fraud and false statements.

Date: 2009-01-21
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to: (1) allow a five-year carryback of net operating losses for taxable years beginning or ending during 2007, 2008, or 2009; and (2) suspend the 90% alternative minimum tax limitation on carrybacks and carryovers of net operating losses in such years.

Date: 2009-01-21
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Fair Tax Act of 2009 - Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2009. 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 2011, 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 a monthly sales tax rebate for families meeting certain size and income requirements.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 FY2013. 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. Terminates the sales tax imposed by this Act if the Sixteenth Amendment to the U.S. Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this Act.

Date: 2009-01-22
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Timber Revitalization and Economic Enhancement Act II of 2009 - Amends the Internal Revenue Code to make permanent: (1) the reduction in the rate of tax on the net timber gain of corporations; and (2) rules for the treatment of timber real estate investment trust (REIT) gains, mineral royalty income, and prohibited transactions.

Date: 2009-01-26
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Special Inspector General for the Troubled Asset Relief Program Act of 2009 - (Sec. 2) Amends the Emergency Economic Stabilization Act of 2008 to grant the Special Inspector General (SIG) authority to conduct, supervise, and coordinate an audit or investigation of any action taken with regard to the Troubled Asset Relief Program (TARP) that the SIG deems appropriate.Prohibits any audit or investigation, however, of any action related to: (1) graduated authorization to purchase troubled assets; (2) oversight and audits by the Comptroller General; (3) the Comptroller General's study and report on margin authority; and (4) the Congressional Oversight Panel.Treats the Office of the SIG for TARP as one of those federal Inspector General offices whose agents may carry a firearm, make arrests with or without a warrant, and seek and execute arrest, search, and seizure warrants under the Inspector General Act of 1978 without first receiving an determination of eligibility by the Attorney General.(Sec. 3) Authorizes the SIG to exercise specified employment authorities for additional personnel, but not after six months following enactment of this Act.Prohibits any period of appointment from exceeding the date on which the Office of the SIG terminates.States that if an annuitant receiving an annuity from the Civil Service Retirement and Disability Fund becomes employed within the Office of the SIG for the Troubled Asset Relief Program, such annuity shall continue. Limits such allowance to: (1) not more than 25 employees at any time as designated by the SIG; and (2) only pay periods beginning after the enactment of this Act.(Sec. 4) Requires the Secretary of the Treasury to either: (1) take action to address deficiencies identified by a report or investigation of the SIG or other auditor engaged by the TARP; or (2) certify to congressional committees that no action is necessary or appropriate.Instructs the SIG to work with Inspectors General of designated federal agencies to: (1) avoid duplication of effort; and (2) ensure comprehensive oversight of TARP.Makes the SIG a member of the Council of the Inspectors General on Integrity and Efficiency until termination of the Office.(Sec. 5) Requires the SIG to: (1) report quarterly to certain congressional committees on SIG activities; (2) report to Congress by September 1, 2009, on the use of any funds received by a financial institution under TARP; and (3) make the latter report available to the public, including on the home page of the SIG's website within 24 hours after its submission to Congress.(Sec. 6) Requires funding for the office of the SIG to be made available not later than seven days after the date of enactment of this Act. (Sec. 7) Makes the Special Inspector General for Iraq Reconstruction and the Special Inspector General for Afghanistan Reconstruction members of the Council of the Inspectors General on Integrity and Efficiency until the termination of their respective Offices.

Date: 2009-02-04
Topic: Macroeconomics (Tax Code)
Subject: Finance and financial sector
Art and Collectibles Capital Gains Tax Treatment Parity Act - Amends the Internal Revenue Code to: (1) eliminate the 28% capital gains tax rate for collectibles, thus allowing gain from the sale of collectibles (including art works) to be taxed at the 15% tax rate applicable to other investment property; and (2) allow the creator of a literary, musical, artistic, or scholarly property a fair market value tax deduction for the donation of such property to a tax-exempt organization, if properly appraised and donated no sooner than 18 months after its creation.

Date: 2009-02-09
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Hospice Protection Act - Establishes a temporary moratorium on the phase out of the Medicare hospice Budget Neutrality Adjustment Factor (BNAF). Directs the Secretary of Health and Human Services, between enactment of this Act and December 31, 2009, to recompute and apply the final Medicare hospice wage index for FY2009 as if the BNAF had remained in place with no reduction.

Date: 2009-02-12
Topic: Macroeconomics (Tax Code)
Subject: Health
Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Secretary of the Treasury); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations; (4) increase the period for Internal Revenue Service (IRS) review of tax returns involving offshore secrecy jurisdictions; (5) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions; (6) disallow tax advisor opinions validating transactions in offshore secrecy jurisdictions; (7) subject dividend equivalents and substitute dividends to the 30% tax on foreign income; and (8) impose reporting requirements for transactions involving a passive foreign investment company.Amends the Securities Exchange Act of 1934 and other federal enactments to impose a penalty for failure to disclose holdings or transactions involving a foreign entity.Requires the Secretary of the Treasury to publish a final rule requiring unregistered investment companies, including hedge funds or private equity funds, to establish anti-money laundering programs, and to submit suspicious activity reports.Modifies requirements for certain third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (John Doe summons).Increases penalties for promoting abusive tax shelters and for aiding and abetting the understatement of tax liability.Prohibits the patenting of tax planning inventions.Prohibits tax advisor contingent fee agreements for obtaining tax savings or benefits.Allows increased disclosure of tax information for enforcement purposes.Directs the Secretary to impose standards for written tax opinions by tax practitioners.Denies tax deductions for certain fines and penalties for violations of law and for interest paid on certain understatements of tax.Sets forth rules for the application of the economic substance doctrine and imposes penalties for underpayments of tax due to transactions lacking economic substance.

Date: 2009-03-02
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Congressional Accountability and Line-Item Veto Act of 2009 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to propose the repeal of any congressional earmark or the cancellation (line item veto) of any limited tariff benefit or targeted tax benefit. Sets forth requirements for the President's transmittal to Congress of a special message regarding a proposed repeal or cancellation. Dedicates any repeal or cancellation only to deficit reduction or increase of a surplus. Provides for adjustment of: (1) committee allocations resulting from such rescission; and (2) applicable limits, as appropriate, under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Sets forth procedures for expedited congressional consideration of a proposed rescission. Expresses the sense of Congress that no President or any executive branch official should condition the inclusion or exclusion, or threaten to condition the inclusion or exclusion, of any proposed repeal or cancellation in any special message under this Act upon any vote cast or to be cast by any Member of either chamber.

Date: 2009-03-04
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Amends the Internal Revenue Code to exempt from the harbor maintenance tax commercial cargo (other than bulk cargo) loaded at: (1) a port in the U.S. mainland and unloaded at another such port after transport solely by coastal route or river or unloaded at a port in Canada located in the Great Lakes Saint Lawrence Seaway System; or (2) such a port in Canada and unloaded at a port in the U.S. mainland. Defines the "Great Lakes Saint Lawrence Seaway System" as the waterway between Duluth, Minnesota, and Sept Iles, Quebec, encompassing the five Great Lakes, their connecting channels, and the Saint Lawrence River.

Date: 2009-03-09
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 for provisions reducing individual tax rates on capital gains and dividend income.

Date: 2009-03-11
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Compensation Fairness Act of 2009 - Amends the Internal Revenue Code to impose an excise tax on excessive bonuses paid by federal emergency economic assistance recipients to their employees (including directors or officers). Sets the overall rate of such tax at 70% of the amount of such bonuses, 35% payable by federal emergency economic assistance recipients and 35% payable by the employees of such recipients. Exempts bonus recipients who repay bonus amounts to the federal government. Defines "excessive bonus" as any retention bonus or other bonus that exceeds $50,000 paid by a federal emergency economic assistance recipient after December 31, 2008. Defines "federal emergency economic assistance recipient" as: (1) an entity and its affiliates to which the federal government has paid an aggregate of more than $100 million of assistance and in which the federal government has acquired an equity interest under a program authorized by the Emergency Economic Stabilization Act of 2008 or the Federal Reserve Act; and (2) the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Limits to $1 million the amount of compensation which a participant in a nonqualified deferred compensation plan maintained by a federal emergency economic assistance recipient may defer in any 12-month period.

Date: 2009-03-19
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to exempt from income taxation a newspaper corporation or organization if: (1) it publishes on a regular basis a newspaper for general circulation; (2) its newspaper contains local, national, and international news stories of interest to the general public and the distribution of such newspaper is necessary or valuable in achieving an educational purpose; and (3) the preparation of the material contained in such newspaper follows a methodology generally accepted as educational. Exempts the advertising income of a tax-exempt newspaper corporation or organization from taxation as unrelated business income and allows a charitable tax deduction for contributions to such newspaper corporation or organization.

Date: 2009-03-24
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to: (1) reduce from 2 to 1.32% the excise tax rate on the net investment income of tax-exempt private foundations; and (2) repeal the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.

Date: 2009-03-24
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Equity for Our Nation's Self Employed Act of 2009 - Amends the Internal Revenue Code to allow self-employed individuals to deduct health insurance costs in computing the tax on self-employment income.

Date: 2009-03-26
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to: (1) extend the first-time homebuyer tax credit to all purchasers of a principal residence; (2) increase the maximum amount of such credit from $8,000 to $15,000; and (3) repeal the reduction in such credit for taxpayers whose modified adjusted gross income exceeds $75,000 ($150,000 in the case of married couples filing jointly).

Date: 2009-03-30
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Flat Tax Act of 2009- 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.

Date: 2009-03-30
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to: (1) allow a waiver of the penalty for failure to disclose reportable transactions (i.e., transactions which have a potential for tax avoidance or evasion) if such failure is due to reasonable cause and not due to willful neglect; (2) revise the amount of the penalty for such failure; and (3) limit the imposition of such penalty to the taxpayer (currently, any person). Reaffirms the authority of the Commissioner of Internal Revenue to rescind all or any portion of the penalty for failure to furnish information regarding reportable transactions.

Date: 2009-04-01
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Rural Heritage Conservation Extension Act of 2009 - Amends the Internal Revenue Code to make permanent the tax deduction for charitable contributions by individuals and corporations of real property interests for conservation purposes.

Date: 2009-04-02
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Legal Services Benefit Act of 2009 - 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.

Date: 2009-04-02
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Requires the Secretary of the Treasury to use any agency, department, or authorized but completed program appropriations remaining at the end of a fiscal year to pay down the federal debt. Requires a department or agency to report to the committees of jurisdiction in both chambers and the congressional budget committees on how the money was saved, and possibilities for future savings in that program.

Date: 2009-04-20
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Amends the Emergency Economic Stabilization Act of 2008 (EESA) to grant subpoena power to the Congressional Oversight Panel (which reviews the current state of the financial markets and the regulatory system) to require the attendance and testimony of witnesses and the production of books, records, correspondence, memoranda, papers, documents, tapes, and materials.

Date: 2009-04-20
Topic: Macroeconomics (Tax Code)
Subject: Finance and financial sector
Public Good IRA Rollover Act of 2009 - Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for certain charitable purposes.

Date: 2009-04-22
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Emergency Economic Stabilization Act of 2008 (EESA) to direct the Secretary of the Treasury to provide to the Special Inspector General of the Troubled Asset Relief Program (TARP), the Comptroller General, and the Congressional Oversight Panel ongoing, continuous, and close to real-time updates of the status of the use of funds distributed under EESA, including with respect to procurement contracts, through a standardized electronic database that combines all of the necessary information from existing public and private sources to track the status of the funds distributed under the Act. Requires the Secretary also to: (1) compare the data in such database with any other data for any activities that are inconsistent with EESA purposes; and (2) collect from all federal agencies any regulatory filings, data generated by the use of internal models, financial models, and analytics associated with the financial assistance on at least a daily basis in order to help the Secretary to determine the effectiveness of TARP in stimulating prudent lending and strengthening bank capital. Directs the Secretary, if TARP goals are not being met, to work with the federal agencies supplying the information to have them provide the recipients with recommendations for better meeting such goals. Requires the Secretary, furthermore, to adjust the future uses of TARP assistance if such goals are not met even following such recommendations.

Date: 2009-04-28
Topic: Macroeconomics (Tax Code)
Subject: Finance and financial sector
Amends the Internal Revenue Code to classify equipment that produces electricity from marine and hydrokinetic renewable energy as five-year property for depreciation purposes.

Date: 2009-04-29
Topic: Macroeconomics (Tax Code)
Subject: Taxation
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.

Date: 2009-04-30
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Optional One Page Flat Tax Act - Amends the Internal Revenue Code to authorize an individual or a person engaged in business activity to make an irrevocable election to be subject to a flat tax (in lieu of the existing tax provisions) of 19% for the first two years after an election is made, and 17% thereafter. Calculates taxable income for individual taxpayers by subtracting a basic standard deduction and an additional standard deduction for each dependent from the total of wages, retirement distributions, and unemployment compensation. Defines "business taxable income" to mean gross active income reduced by the cost of certain business inputs. Imposes an employer tax on the value of excludable compensation provided to employees not engaged in business activity of 19% for the first two years after an election is made under this Act and 17% thereafter. Repeals the estate, gift, and generation-skipping transfer taxes. Requires a two-thirds vote of the House of Representatives or the Senate to increase the flat tax rate proposed by this Act or to reduce the amount of the standard deduction or business-related deductions allowed by this Act.

Date: 2009-05-04
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to increase the limit on the deductibility of losses from the sale or exchange of capital assets for individual taxpayers to $10,000, adjusted for inflation after 2009 (50% of such amount for married individuals filing a separate tax return).

Date: 2009-05-05
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Savings for Working Families Act of 2009 - Allows certain low-income individuals between age 18 and 61 to establish tax-exempt individual development accounts (IDAs) to pay for certain qualified expenses, including education expenses, first-time homebuyer costs, and business capitalization or expansion costs. Sets forth rules for the establishment, maintenance, and termination of IDAs. Permits tax-free withdrawals from IDAs for qualified expenses, but requires IDA beneficiaries to complete one or more financial education courses prior to making an IDA withdrawal. Allows certain financial institutions, tax-exempt organizations, and Indian tribes to sponsor and administer IDAs. Amends the Internal Revenue Code to allow such entities a business-related tax credit for the cost of administering IDAs and for making matching contributions to IDAs in parallel accounts. Provides that IDA amounts shall be disregarded for purposes of determining eligibility for assistance under certain means-tested federal programs.

Date: 2009-05-06
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Family Tax Relief Act of 2009 - Amends the Internal Revenue Code to: (1) allow an additional refundable tax credit for expenses for household and dependent care services necessary for gainful employment; and (2) increase the dollar limitation on the tax exclusion for employed-provided dependent care assistance payments.

Date: 2009-05-07
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to extend through December 31, 2018, the income tax credit for biodiesel used as fuel and the excise credits for biodiesel mixtures and biodiesel used to produce biodiesel mixtures.

Date: 2009-05-14
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Securing America's Future Economy Commission Act or SAFE Commission Act - Establishes the Securing America's Future Economy (SAFE) Commission to develop legislation designed to address: (1) the unsustainable imbalance between long-term federal spending commitments and projected revenues; (2) increases in net national savings to provide for domestic investment and economic growth; (3) the implications of foreign ownership of federally issued debt instruments; and (4) revision of the budget process to place greater emphasis on long-term fiscal issues. Requires the Commission to: (1) hold at least one town-hall style public hearing within each federal reserve district; and (2) develop one or two methods for estimating the cost of legislation as a supplement to the estimates and assumptions provided by the Congressional Budget Office (CBO). Requires the Commission to submit a legislative proposal to Congress and the President that relies on such estimates and assumptions. Sets forth procedures for consideration of such legislation. Requires CBO to prepare a long-term cost estimate and have it published in the Congressional Record as expeditiously as possible whenever requested to do so by the Commission, the President, or the chairman or ranking minority member of the Committee on the Budget of either chamber.

Date: 2009-05-14
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Brewers Excise and Economic Relief Act of 2009 - Amends the Internal Revenue Code to: (1) reduce from $18 to $9 (the pre-1991 level) the per-barrel tax on beer; and (2) allow a further reduction in such tax for brewers who produce not more than 2 million barrels annually.

Date: 2009-05-14
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Generate Retirement Ownership Through Long-Term Holding Act of 2009 - 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.

Date: 2009-05-20
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Renewable Energy Parity and Investment Remedy Act or REPAIR Act - Amends the Internal Revenue Code to eliminate after 2010 the reduction in the rate of the tax credit for electricity produced from open-loop biomass, small irrigation power, landfill gas, trash combustion, and hydropower facilities (thus allowing the same credit rate for all renewable resource facilities).

Date: 2009-05-20
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends the Internal Revenue Code to require the Secretary of the Treasury to notify a taxpayer of: (1) any unauthorized use of such taxpayer's identity (suspected identity theft) the Secretary uncovers during an investigation of false or fraudulent statements or tax returns; and (2) any person criminally charged under such investigation. Requires such notification to be given to the taxpayer as soon as practicable and without jeopardizing a tax fraud investigation.

Date: 2009-05-21
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Home Lead Safety Tax Credit Act of 2009 - Amends the Internal Revenue Code to allow a tax credit for 50 percent of the costs of reducing lead hazards in U.S. homes built before 1960 in which certain low-income children less than six years of age and women of child-bearing age reside. Allows a maximum credit of $3,000 for lead abatement costs and $1,000 for the cost of interim lead control measures.

Date: 2009-06-11
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Good Samaritan Hunger Relief Tax Incentive Extension Act of 2009 - Amends the Internal Revenue Code to: (1) modify the tax deduction for charitable contributions of food inventory by limiting the reduction in such deduction to the amount by which the fair market valuation of the contributed food exceeds twice the basis of such food; and (2) make such deduction permanent.

Date: 2009-06-22
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Want Not, Waste Not Act - Rescinds any amounts rejected by the governor of a state or a local government from amounts apportioned to that state under Public Law 111-5 (American Recovery and Reinvestment Act of 2009). Declares that the purpose of this Act is to ensure that such rejected stimulus funding is returned to the U.S. Treasury to reduce the national debt to be inherited by future generations.

Date: 2009-06-23
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Close the SILO/LILO Loophole Act of 2009 - Amends the Internal Revenue Code to: (1) impose a 100% excise tax on any income or benefits received from a SILO (sale-in/lease-out) or LILO (lease-in/lease-out) transaction involving a financial institution and a public entity; and (2) deny a tax deduction for attorney fees or other costs incurred by a party to a SILO or LILO transaction seeking to enforce the terms of such transaction.

Date: 2009-06-24
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Civil Rights Tax Relief Act of 2009 - Amends the Internal Revenue Code to allow: (1) an exclusion from gross income for amounts received (either backpay or frontpay or punitive damages) on account of an unlawful discrimination claim; (2) income averaging for backpay and frontpay amounts received from such claims, and (3) an exemption from the alternative minimum tax (AMT) for any tax benefit resulting from the income averaging of amounts received from an unlawful discrimination claim.

Date: 2009-06-25
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Hurricane and Tornado Mitigation Investment Act of 2009 - Amends the Internal Revenue Code to allow individual and business taxpayers a tax credit for 25% of their qualified hurricane and tornado mitigation property expenditures up to $5,000 for any taxable year. Defines such expenditures as expenditures in a dwelling unit to improve the strength of a roof deck attachment, create a secondary water barrier, improve the durability of a roof covering, brace gable-end walls, reinforce the connections between a roof and supporting wall, protect against windborne debris, or protect exterior doors and garages.

Date: 2009-06-25
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Motorsports Fairness and Permanency Act - Amends the Internal Revenue Code to make permanent the classification, for depreciation purposes, of any motorsports entertainment complex as seven-year property.

Date: 2009-07-07
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Elimination of Double Subsidies for the Hardrock Mining Industry Act of 2009 - Amends the Internal Revenue Code to disallow the percentage depletion allowance for hardrock mines located on land currently subject to the general mining laws, or on land patented under such laws. Establishes in the Treasury the Abandoned Mine Reclamation Trust Fund. Appropriates to such Fund amounts equal to 50% of the additional revenues received due to the disallowance of the depletion allowance for hardrock mines by this Act. Prescribes guidelines under which such Fund shall be available to the Secretary of the Interior for reclamation and restoration of lands and water resources adversely affected by mineral and mineral material mining (excluding coal and fluid minerals).

Date: 2009-08-04
Topic: Macroeconomics (Tax Code)
Subject: Taxation
New Markets Tax Credit Extension Act of 2009 - Amends the Internal Revenue Code to: (1) extend the new markets tax credit through 2014; (2) provide for an inflation adjustment to the limitation amount for such credit after 2009; and (3) allow an offset against the alternative minimum tax (AMT) for such credit.

Date: 2009-08-05
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Internet Poker and Game of Skill Regulation, Consumer Protection, and Enforcement Act of 2009 - Prescribes federal administrative and licensing requirements governing Internet game-of-skill facilities. Vests the Secretary of the Treasury with regulatory and enforcement jurisdiction over such facilities. Prohibits any person from operating an Internet game-of-skill facility that knowingly accepts bets or wagers from persons located in the United States without a license issued by the Secretary. Requires the Secretary to impose: (1) fees upon licensees to cover the cost of administering this Act; and (2) specified civil money penalties for willful violation of this Act or related regulations. Cites safeguards required of licensees, including: (1) collection of customer and licensee taxes related to Internet games of skill or game-of-skill facilities; (2) safeguards against fraud, money laundering, and terrorist finance; and (3) safeguards to prevent compulsive Internet betting or wagering. Requires the Secretary to prescribe regulations for: (1) development of a Problem Gaming, Responsible Gaming, and Self-Exclusion Program; (2) establishment of a list of persons self-excluded from gaming activities at licensee sites; and (3) a public awareness program about the availability of the self-exclusion list. Prohibits a person who is prohibited from gaming with a licensee from collecting any winnings or recovering any losses that arise as a result of prohibited gaming activity. Shields a financial transaction provider from liability for engaging in financial activities or transactions in connection with bets permitted under this Act and the Interstate Horseracing Act of 1978, unless the provider knows or has reason to know they violate federal or state law. Permits states and Indian tribal authorities to opt-out of Internet gaming activities. Prohibits wagers on games of chance and sporting events. Prohibits electronic cheating devices. Requires the Director of the Financial Crimes Enforcement Network to give the Secretary a list of unlawful Internet gambling enterprises. Amends the Internal Revenue Code to impose upon licensees: (1) a federal Internet gaming license fee;(2) a state or Indian tribal government gaming license fee; and (3) specified tax return and recordkeeping requirements. Establishes the State and Indian Tribal Government Gaming License Fee Trust Fund. Subjects to tax withholding parimutuel pool winnings and net Internet gaming winnings (including those of nonresident aliens). Exempts certain gaming proceeds from taxation by either a state or Indian Tribal Government receiving appropriations from the Trust Fund. Amends the Public Health Service Act to authorize: (1) treatment programs for pathological gambling; and (2) grants for comprehensive education, prevention and treatment services for problem and pathological gaming. Directs the Secretary to carry out a national campaign to increase public awareness of problem gambling.

Date: 2009-08-06
Topic: Macroeconomics (Tax Code)
Subject: Commerce
Statutory Pay-As-You-Go Act of 2009 - Requires a Pay-As-You-Go (PAYGO) Act to include by reference an estimate of its budgetary effects as determined by the Congressional Budget Act of 1974 (CBA), if timely submitted for printing in the Congressional Record by the chairs of the congressional budget committees (chairs) before the vote on it. Requires: (1) the Clerk of the House of Representatives or the Secretary of the Senate, as applicable, also to incorporate by reference such printed estimate into the enrollment of a PAYGO Act; and (2) budgetary effects that are not so included to be determined by the Office of Management and Budget (OMB) estimates. Amends the CBA to require the chairs to request from the Director of the Congressional Budget Office (CBO) an estimate of the budgetary effects of a PAYGO Act before a vote in either chamber on it that, if determined in the affirmative, would clear it for enrollment. Directs the chairs to post such estimate on their respective committee websites and cause it to be printed in the Congressional Record under "PAYGO ESTIMATE." Requires OMB to maintain and make publicly available a continuously updated document containing two PAYGO scorecards (the first for a five-year period and the second for a 10-year period for the beginning of each respective budget year) displaying the budgetary effects of PAYGO legislation, applying certain look-back and averaging requirements. Requires OMB to display as a separate addendum the cost estimates of provisions designated in statute as emergency requirements. Requires OMB to: (1) make an annual public PAYGO report, including a up-to-date document containing the PAYGO scorecards, within 14 business days after Congress adjourns to end a session; and (2) prepare for the President an offsetting sequestration order, which the President shall issue, if such report shows a debit on either PAYGO scorecard for the budget year. Prescribes requirements for calculating a sequestration for nonexempt direct spending programs, including Medicare payments and certain nonexempt mandatory programs. Applies to this Act certain sequestration order requirements of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act), as amended by this Act, including the authority of Members of Congress and certain individuals to request an expedited judicial review of a sequestration order. Exempts from sequestration: (1) low-income subsidies and catastrophic subsidies under Part D (Voluntary Prescription Drug Benefit Program) of the Social Security Act (SSA); and (2) qualified individual (QI) premiums for Medicare cost-sharing for certain dual eligible low-income Medicare beneficiaries under SSA title XIX (Medicaid). Amends the Gramm-Rudman-Hollings Act to specify additional Social Security, veterans, Tier I Railroad Retirement benefits and other programs and activities exempt from a sequestration order as well as certain economic recovery programs.

Date: 2009-08-06
Topic: Macroeconomics (Tax Code)
Subject: Economics and public finance
Americans Giving care to Elders (AGE) Act of 2009 - Amends the Internal Revenue Code to allow caregivers a tax credit for up to $6,000 of the eldercare expenses incurred for their parents (or ancestors of such parents). Amends the Older Americans Act of 1965 to: (1) increase funding for the National Family Caregiver Support Program through FY2013; and (2) establish a National Resource Center on Family Caregiving to provide information on and support for family caregiver support programs.

Date: 2009-08-06
Topic: Macroeconomics (Tax Code)
Subject: Taxation
Amends Internal Revenue Code provisions relating to the tax deduction for donations of fractional interests in tangible personal property to: (1) permit donors to claim an increased deduction based upon the market value of subsequent gifts of fractional interests; (2) extend to 20 years the period in which donors of fractional interests must contribute their entire interest in donated property; and (3) require donors of fractional interests greater than $1 million to attach a statement of value obtained from the Internal Revenue Service (IRS) to their tax returns.

Date: 2009-08-06
Topic: Macroeconomics (Tax Code)
Subject: Taxation