GovTrack’s Bill Summary
We don’t have a summary available yet.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Fair and Impartial Reform Tax Act of 2011 - Amends the Internal Revenue Code to:
(1) revise income tax rates for individuals and increase such rates for taxpayers with adjusted gross incomes in excess of $500,000,
(2) impose limits on and phaseouts of personal exemptions and itemized deductions for high income taxpayers,
(3) increase the tax rate on net capital gains and dividend income, and
(4) increase the alternative minimum tax (AMT) on the net capital gains of noncorporate taxpayers for taxable years beginning after 2011.
Makes the general terminating date of the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) (i.e., December 31, 2012) applicable to the amendments made by this Act.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.