H.R. 755 (112th): Investing in Our Future Act of 2011

Introduced:
Feb 17, 2011 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Fortney “Pete” Stark
Representative for California's 13th congressional district
Party
Democrat
Text
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Last Updated
Feb 17, 2011
Length
16 pages
Related Bills
H.R. 5783 (111th) was a previous version of this bill.

Referred to Committee
Last Action: Jul 20, 2010

 
Status

This bill was introduced on February 17, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 17, 2011
Referred to Committee Feb 17, 2011
 
Full Title

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

Summary

No summaries available.

Cosponsors
4 cosponsors (4D) (show)
Committees

House Foreign Affairs

House Ways and Means

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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.


2/17/2011--Introduced.
Investing in Our Future Act of 2011- 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 10% 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 25% 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 25% of the revenues from such tax and which shall be used for contributions to the Green Climate Fund, and the Adaptation Fund, established pursuant to the United Nations Framework Convention on Climate Change. Requires remaining tax revenues to be used for federal budget deficit reduction or reduction of the federal 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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