H.R. 5783 (111th): Investing in Our Future Act of 2010

Introduced:
Jul 20, 2010 (111th Congress, 2009–2010)
Sponsor:
Rep. Fortney “Pete” Stark [D-CA13]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 755 (112th) on Feb 17, 2011.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on July 20, 2010, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 20, 2010
Cosponsors
7 cosponsors (7D) (show)
Committees

House Foreign Affairs

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to impose an excise tax on currency transactions.

Summary

No summaries available.

Text

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Last updated Jul 20, 2010.
20 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

7/20/2010--Introduced.
Investing in Our Future Act of 2010 - Amends the Internal Revenue Code to impose an excise tax on currency transactions exceeding $10,000 equal to 0.005% of the value of the currency acquired in the transaction (currency transaction tax). Establishes in the Treasury: (1) the Child Care Assistance Trust Fund, which shall be funded with 20% of the revenues from the currency transactions tax and which shall be used to provide increased allocations to states for child care assistance; (2) the Multilateral Global Health Trust Fund, which shall be funded with 40% of the revenues from such tax and from which the Secretary of State shall make grants to assist developing countries in addressing HIV/AIDS, tuberculosis, malaria, maternal mortality, family planning, neglected diseases, and other health issues; and (3) the Global Climate Change Adaptation and Mitigation Trust Fund, which shall be funded with 40% of the revenues from such tax and which shall be used for contributions to a United Nations Framework Convention on Climate Change global climate fund for climate change adaptation and mitigation.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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