S. 3401 (112th): Tax Relief Act of 2012

Introduced:
Jul 18, 2012 (112th Congress, 2011–2013)
Status:
Died (Reported by Committee)
Sponsor
Orrin Hatch
Senator from Utah
Party
Republican
Text
Read Text »
Last Updated
Jul 19, 2012
Length
8 pages
Related Bills
H.R. 8 (Related)
American Taxpayer Relief Act of 2012

Signed by the President
Jan 02, 2013

S. 3417 (Related)
Tax Hike Prevention Act of 2012

Referred to Committee
Last Action: Jul 23, 2012

 
Status

This bill was introduced on July 19, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 18, 2012
Reported by Committee Jul 19, 2012
 
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.

Cosponsors
1 cosponsors (1R) (show)
 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

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

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.


7/18/2012--Introduced.
Tax Relief 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 two years: (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

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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.

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