S. 1931 (112th): Temporary Tax Holiday and Government Reduction Act

Introduced:
Nov 30, 2011 (112th Congress, 2011–2013)
Sponsor:
Sen. Dean Heller [R-NV]
Status:
Died (Reported by Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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.


11/30/2011--Introduced.
Temporary Tax Holiday and Government Reduction Act - Amends the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 to extend through 2012 the 2% reduction in employment and self-employment tax rates.
Amends the Internal Revenue Code to impose a 100% tax on excess unemployment compensation, as defined by this Act, received by certain high-income taxpayers.
Amends the Food and Nutrition Act of 2008 to render ineligible for the supplemental nutrition assistance program (SNAP), formerly food stamps, any household in which a member receives income or assets with a fair market value of at least $1 million.
Amends title XVIII (Medicare) of the Social Security Act to:
(1) increase Medicare Part B and D premiums for Medicare beneficiaries with adjusted gross incomes over $750,000, and
(2) extend through 2022 the freeze on the inflation adjustment to the income threshold for the Medicare premium subsidy eligibility.
Requires the Director of the Office of Management and Budget (OMB) and the Director of the Office of Personnel Management (OPM) to determine the number of full-time employees employed in each federal agency.
Prohibits a head of a federal agency from hiring more than 1 employee for every 3 full-time employees who leave employment in such agency until OMB and OPM make a determination that the number of full-time federal employees is 10% less than the initial level determined by OMB and OPM. Extends the freeze on the pay of federal employees through 2015.
Provides that such extended pay freeze applies to legislative branch employees, including Members of Congress. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 to reduce levels of discretionary spending for FY2013-FY2021. Buffett Rule Act of 2011 - Amends the Internal Revenue Code to allow taxpayers to donate an amount (not less than $1), in addition to any tax owed, which shall be deposited in the general fund of the Treasury and transferred to an account used to reduce the public debt.

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

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The bill contains the following citations to other parts of U.S. law:

Slip Laws

Slip laws refer to enacted bills and joint resolutions in their original form as enacted by Congress, that is, before other laws amend them. Slip laws are cited as “Public Law XXX-YYY”, where XXX is the number of the Congress in which the bill or resolution was introduced.

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)