US SB2230 | 2011-2012 | 112th Congress
Status
April 16 2012 - Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 51 - 45. Record Vote Number: 65. (consideration: CR S2313; text: CR S2313)
Text: Latest bill text (Introduced) [PDF]
Text: Latest bill text (Introduced) [PDF]
Summary
Paying a Fair Share Act of 2012 - 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 2013. 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.
Title
Paying a Fair Share Act of 2012
Sponsors
Roll Calls
2012-04-16 - On Cloture on the Motion to Proceed S. 2230 (Y: 51 N: 45 NV: 4 Abs: 0) [FAIL]
History
| Date | Chamber | Action |
|---|---|---|
| 2012-04-16 | Senate | Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 51 - 45. Record Vote Number: 65. (consideration: CR S2313; text: CR S2313) |
| 2012-04-16 | Senate | Motion to proceed to measure considered in Senate. (consideration: CR S2289-2293, S2294-2305, S2313-2314) |
| 2012-03-29 | Senate | Cloture motion on the motion to proceed to measure presented in Senate. (consideration: CR S2223-2224; text: CR S2223) |
| 2012-03-29 | Senate | Motion to proceed to measure considered in Senate. (consideration: CR S2188, S2223-2224) |
| 2012-03-28 | Senate | Motion to proceed to measure considered in Senate. (consideration: CR S2117) |
| 2012-03-27 | Senate | Motion to proceed to consideration of measure made in Senate. (consideration: CR S2055-2056) |
| 2012-03-26 | Senate | Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 339. |
| 2012-03-22 | Senate | Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time. |
Same As/Similar To
HB3903 (Same As) 2012-02-07 - Sponsor introductory remarks on measure. (CR H522)
SB2059 (Same As) 2012-02-01 - Read twice and referred to the Committee on Finance.
SB2252 (Related) 2012-03-29 - Read twice and referred to the Committee on Finance.
HB5333 (Related) 2012-05-07 - Referred to House Budget
HB5727 (Related) 2012-06-04 - Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.
SB2059 (Same As) 2012-02-01 - Read twice and referred to the Committee on Finance.
SB2252 (Related) 2012-03-29 - Read twice and referred to the Committee on Finance.
HB5333 (Related) 2012-05-07 - Referred to House Budget
HB5727 (Related) 2012-06-04 - Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.
Subjects
Budget deficits and national debt
Employment taxes
Income tax deductions
Income tax rates
Inflation and prices
Social work, volunteer service, charitable organizations
Tax reform and tax simplification
Taxation
Employment taxes
Income tax deductions
Income tax rates
Inflation and prices
Social work, volunteer service, charitable organizations
Tax reform and tax simplification
Taxation
