US HB6030 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Democrat 14-0)
Status: Introduced on June 27 2012 - 25% progression, died in committee
Action: 2012-06-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 27 2012 - 25% progression, died in committee
Action: 2012-06-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Hire Now Act of 2012 - Amends the Internal Revenue Code to: (1) allow certain employers a tax credit for 10% of the excess (if any) of the wages and compensation paid to their employees in 2012 over the amount of such wages paid in 2011, up to a maximum amount of $5 million; (2) prohibit major integrated oil companies from using the last-in, first-out (LIFO) accounting method; and (3) deny major integrated oil companies a tax deduction for intangible drilling and development costs.
Title
Hire Now Act of 2012
Sponsors
| Rep. Sander Levin [D-MI] | Rep. Xavier Becerra [D-CA] | Rep. Shelley Berkley [D-NV] | Rep. Earl Blumenauer [D-OR] |
| Rep. Joseph Crowley [D-NY] | Rep. Ron Kind [D-WI] | Rep. John Larson [D-CT] | Rep. John Lewis [D-GA] |
| Rep. Jim McDermott [D-WA] | Rep. Richard Neal [D-MA] | Rep. Bill Pascrell [D-NJ] | Rep. Charles Rangel [D-NY] |
| Rep. Fortney Stark [D-CA] | Rep. Mike Thompson [D-CA] |
History
| Date | Chamber | Action |
|---|---|---|
| 2012-06-27 | House | Referred to the House Committee on Ways and Means. |
Same As/Similar To
SB2237 (Same As) 2012-07-12 - Returned to the Calendar. Calendar No. 341.
Subjects
Accounting and auditing
Corporate finance and management
Employee hiring
Income tax credits
Income tax deductions
Oil and gas
Tax administration and collection, taxpayers
Taxation
Wages and earnings
Corporate finance and management
Employee hiring
Income tax credits
Income tax deductions
Oil and gas
Tax administration and collection, taxpayers
Taxation
Wages and earnings
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/112th-congress/house-bill/6030/all-info |
| Text | https://www.congress.gov/112/bills/hr6030/BILLS-112hr6030ih.pdf |
