H.R. 766: Paying a Fair Share Act of 2013

Introduced:
Feb 15, 2013
Status:
Referred to Committee
Prognosis
0% chance of being enacted
Track this bill
Sponsor
David Cicilline
Representative for Rhode Island's 1st congressional district
Party
Democrat
Text
Read Text »
Last Updated
Feb 15, 2013
Length
7 pages
Related Bills
S. 321 (identical)

Referred to Committee
Last Action: Feb 13, 2013

H.R. 2060 (Related)
Stop the Sequester Job Loss Now Act Through 2014

Referred to Committee
Last Action: May 20, 2013

 
Status

This bill was assigned to a congressional committee on February 15, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Feb 15, 2013
Referred to Committee Feb 15, 2013
Reported by Committee ...
Passed House ...
Passed Senate ...
Signed by the President ...
Prognosis

1% chance of getting past committee.
0% chance of being enacted.

Only 11% of bills made it past committee and only about 3% were enacted in 2011–2013. [show factors | methodology]

 
Full Title

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

Summary

No summaries available.

Cosponsors
18 cosponsors (18D) (show)
Committees

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)

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. Data comes via the congress project.

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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.


2/15/2013--Introduced.
Paying a Fair Share Act of 2013 - 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 2014.
Expresses the sense of the House of Representatives 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

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.

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