H.R. 3460 (112th): American Jobs First Act of 2011

Introduced:
Nov 17, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Shelley Berkley [D-NV1]
Status:
Died (Referred to Committee)

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 November 17, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Nov 17, 2011
Referred to Committee Nov 17, 2011
Cosponsors
2 cosponsors (2D) (show)
Committees

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 allow temporarily a reduced rate of tax with respect to repatriated foreign earnings.

Summary

No summaries available.

Text

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Last updated Nov 17, 2011.
6 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.

11/17/2011--Introduced.
American Jobs First Act of 2011 - Amends the Internal Revenue Code to extend the election to deduct dividends received by a domestic corporation from a controlled foreign corporation.
Increases the amount of such deduction by increases in the payroll of the domestic corporation over the previous taxable year.
Requires the Secretary of the Treasury to provide, by regulations, for a recapture of any portion of the increased tax deduction allowed to a domestic corporation if such corporation's payroll decreases during either of the two taxable years following the taxable year in which the increased deduction was allowed.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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