S. 3660 (112th): Middle Class & Small Business Tax Cut Act of 2012

Dec 05, 2012 (112th Congress, 2011–2013)
Died (Referred to Committee)
Robert “Bob” Casey Jr.
Senator from Pennsylvania
Read Text »
Last Updated
Dec 05, 2012
9 pages
Related Bills
S. 1330 (Related)
Small Business Job Creation Tax Act of 2011

Referred to Committee
Last Action: Jul 06, 2011


This bill was introduced on December 5, 2012, in a previous session of Congress, but was not enacted.

Introduced Dec 05, 2012
Referred to Committee Dec 05, 2012
Full Title

A bill to extend the payroll tax holiday and to amend the Internal Revenue Code of 1986 to provide a temporary payroll increase tax credit for certain employees.


No summaries available.


Senate Finance

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Primary Source

THOMAS.gov (The Library of Congress)

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S. stands for Senate bill.

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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.

Middle Class & Small Business Tax Cut Act of 2012 - Amends the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 to extend through 2013 the reductions in employment and self-employment tax rates.
Amends the Internal Revenue Code to allow nongovernmental employers a credit against employment tax liability equal to 10% of the increase in any quarterly payroll over a payroll in a corresponding quarter in the previous calendar year. Limits the allowable amount of such credit to $500,000 for all quarters.
Directs the Commissioner of Internal Revenue to: (1) notify all employers required to withhold employment taxes of the enactment and applicability of the payroll increase tax credit, and (2) report to Congress on enforcement measures taken to prevent and penalize fraud related to such tax credit.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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