S. 3417 (112th): Tax Hike Prevention Act of 2012

Introduced:
Jul 23, 2012 (112th Congress, 2011–2013)
Sponsor:
Sen. Orrin Hatch [R-UT]
Status:
Died (Referred to Committee)

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

(About Ads | Advertise Here)
Status

This bill was introduced on July 23, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 23, 2012
Referred to Committee Jul 23, 2012
Cosponsors
1 cosponsors (1R) (show)
Committees

Senate Finance

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

Full Title

A bill to amend the Internal Revenue Code of 1986 to temporarily extend tax relief provisions enacted in 2001 and 2003, to provide for temporary alternative minimum tax relief, to extend increased expensing limitations, and to provide instructions for tax reform.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Jul 23, 2012.
7 pages

Primary Source

View on THOMAS (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here.

Citation

Click a format for a citation suggestion:

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.

7/23/2012--Introduced.
Tax Hike Prevention Act of 2012 - Extends through 2013:
(1) the Economic Growth and Tax Relief Reconciliation Act of 2001, and
(2) the reduction in the tax rates for dividend and capital gain income enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Amends the Internal Revenue Code to extend for an additional year:
(1) the increased exemption amount for the alternative minimum tax (AMT);
(2) the offset against the AMT for certain nonrefundable personal tax credits; and
(3) the increased expensing allowance for depreciable business assets, including computer software.
Directs the Senate Committee on Finance to report tax reform legislation not later than 12 months after the enactment of 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.