S. 2230 (112th): Paying a Fair Share Act of 2012

Mar 22, 2012 (112th Congress, 2011–2013)
Died (Failed Cloture)
Sheldon Whitehouse
Senator from Rhode Island
Read Text »
Last Updated
Mar 26, 2012
8 pages
Related Bills
S. 321 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Feb 13, 2013

H.R. 3903 (identical)

Referred to Committee
Last Action: Feb 06, 2012


This bill was introduced in a previous session of Congress but was killed due to a failed vote for cloture, under a fast-track vote called "suspension", or while resolving differences on April 16, 2012.

Introduced Mar 22, 2012
Reported by Committee Mar 26, 2012
Failed Cloture Apr 16, 2012
Full Title

A bill to reduce the deficit by imposing a minimum effective tax rate for high-income taxpayers.


No summaries available.

Apr 16, 2012 6:05 p.m.
Cloture on the Motion to Proceed Rejected 51/45

Primary Source

THOMAS.gov (The Library of Congress)

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S. stands for Senate 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

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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.

Paying a Fair Share Act of 2012 - Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax).
Establishes the amount of such tax as the excess (if any) of the tentative fair share tax over the excess of:
(1) the sum of the taxpayer's regular tax liability, the alternative minimum tax (AMT) amount, and the payroll tax for the taxable year; over
(2) certain tax credits.
Provides for a phase-in of such tax.
Requires an inflation adjustment to the $1 million income threshold for taxable years beginning after 2013.
Expresses the sense of the Senate that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.

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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