US HB766 | 2013-2014 | 113th Congress

Status

Spectrum: Partisan Bill (Democrat 19-0)
Status: Introduced on February 15 2013 - 25% progression, died in committee
Action: 2013-02-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Paying a Fair Share Act of 2013 - 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 2014. Expresses the sense of the House of Representatives 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.

Tracking Information

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Title

Paying a Fair Share Act of 2013

Sponsors


History

DateChamberAction
2013-02-15HouseReferred to the House Committee on Ways and Means.

Same As/Similar To

SB321 (Same As) 2013-02-13 - Read twice and referred to the Committee on Finance.
HB699 (Related) 2013-03-01 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
SB277 (Related) 2013-02-11 - Read twice and referred to the Committee on Finance.
SB278 (Related) 2013-02-11 - Read twice and referred to the Committee on Finance.
SB388 (Related) 2013-02-28 - Motion by Senator Reid to reconsider the vote by which cloture was not invoked on the motion to proceed to the measure (Record Vote No. 27) entered in Senate.
HB2060 (Related) 2013-05-20 - Referred to House Agriculture
SB2432 (Related) 2014-09-18 - Motion to proceed to consideration of measure made in Senate. (consideration: CR S5725-5726)
SB2789 (Related) 2014-09-10 - Read twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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