Taxation

To amend the Internal Revenue Code of 1986 to provide relief to certain married couples who would otherwise be ineligible for the first-time homebuyer credit.

United States · United States Congress · 25 February 2010

Amends the Internal Revenue Code to allow married couples filing a joint tax return who would otherwise be ineligible for the first-time homebuyer tax credit due to the ineligibility of one spouse for such credit a partial tax credit for the purchase of a principal residence.

To amend the Internal Revenue Code of 1986 to extend the deduction for qualified motor vehicle taxes for motor homes.

United States · United States Congress · 25 February 2010

Amends the Internal Revenue Code to: (1) extend through 2011 the tax deduction for state and local sales or excise taxes imposed on the purchase of a motor home; and (2) revise the definition of "motor home" for purposes of this tax deduction to include a recreation vehicle trailer and a slide-in camper.

To amend the Internal Revenue Code of 1986 to exclude from gross income remediation payments for hazardous drywall.

United States · United States Congress · 25 February 2010

Amends the Internal Revenue Code to exclude from gross income government payments to a taxpayer for the replacement of, or remediation relating to, hazardous or defective drywall installed in the taxpayer's principal residence after September 1, 2006, and prior to the enactment of this Act.

Safe Affordable Small Dollar Loan Act of 2010

United States · United States Congress · 25 February 2010

Safe Affordable Small Dollar Loan Act of 2010 - Amends the Community Development Banking and Financial Institutions Act of 1994 to require the Community Development Financial Institutions Fund to make grants to community development financial institutions or to any related partnership in order to enable such institutions to establish a loan-loss reserve fund to defray the costs of a small dollar loan program. Requires a community development financial institution to provide non-federal matching funds equal to 50% of the amount of any grant received. Prohibits the use of such grants to make direct loans to consumers. Permits a community development financial institution to use such a grant to: (1) help recapture a portion or all of a defaulted loan made under its small dollar loan program; and (2) designate and utilize a fiscal agent for services the agent normally provides. Requires the Fund to make technical assistance grants to community development financial institutions to support and maintain a small dollar loan program.

Military Spouse Job Continuity Act of 2010

United States · United States Congress · 25 February 2010

Military Spouse Job Continuity Act of 2010 - Amends the Internal Revenue Code to allow the spouse of a member of the Armed Forces (military spouse) who moves with such member to another state under a permanent change of station order a tax credit for up to $500 of qualified relicensing costs incurred by such spouse. Defines "qualified relicensing costs" as costs for a state license or certification to engage in the profession that such military spouse engaged in while residing in the former state.

HEATR Act of 2010

United States · United States Congress · 25 February 2010

Home Energy Affordability Tax Relief Act of 2010 or the HEATR Act of 2010 - Amends the Internal Revenue Code to allow individual taxpayers an income-based refundable tax credit for residential energy costs. Limits such credit to the lesser of 33% of such costs or $500.

To expand the availability of health savings accounts, to eliminate restrictions on the deduction for medical expenses, and to provide for cooperative governing of individual health insurance coverage offered in interstate commerce.

United States · United States Congress · 25 February 2010

Amends the Internal Revenue Code to revise provisions related to health savings accounts, including to: (1) adjust the amount allowable as a deduction for health savings accounts; and (2) eliminate the restriction on purchasing health insurance from a health savings account. Eliminates the gross income percentage limitation on the tax deduction for medical expenses. Amends the Public Health Service Act to provide that the laws of the state designated by a health insurance issuer (primary state) shall apply to individual health insurance coverage offered by that issuer in the primary state and in any other state (secondary state), but only if the coverage and issuer comply with the conditions of this Act. Exempts issuers from any secondary state's laws that would prohibit or regulate the operation of the issuer in such state, subject to certain restrictions imposed by such state. Requires each issuer issuing individual health insurance coverage in both primary and secondary states to submit to the insurance commissioners of such states: (1) a copy of the plan of operation or feasibility study; (2) written notice of any change in its designation of its primary state and of its compliance with all the laws of the primary state; and (3) a quarterly financial statement. Prohibits an issuer from offering, selling, or issuing individual health insurance coverage in a secondary state if the state insurance commissioner does not use a risk-based capital formula for the determination of capital and surplus requirements for all issuers. Gives sole jurisdiction to the primary state to enforce the primary state's covered laws in the primary state and any secondary state.

Citizens' Choice Act of 2010

United States · United States Congress · 25 February 2010

Citizens' Choice Act of 2010 - Amends the Internal Revenue Code to allow a tax credit up to $1,000 for cash contributions to charitable organizations.

Providing for further consideration of the bill (H.R. 2701) to authorize appropriations for fiscal year 2010 for intelligence and intelligence-related activities of the United States Government, the Community Management Account, and the Central Intelligence Agency Retirement and Disability System, and for other purposes.

United States · United States Congress · 25 February 2010

Sets forth the rule for consideration of H.R. 2701 (Intelligence Authorization Act for Fiscal Year 2010).

Providing for consideration of the Senate amendments to the bill (H.R. 3961) to amend title XVIII of the Social Security Act to reform the Medicare SGR payment system for physicians and to reinstitute and update the Pay-As-You-Go requirement of budget neutrality on new tax and mandatory spending legislation, enforced by the threat of annual, automatic sequestration.

United States · United States Congress · 25 February 2010

Sets forth the rule for consideration of the Senate amendments to the bill (H.R. 3961) to amend title XVIII of the Social Security Act to reform the Medicare SGR payment system for physicians and to reinstitute and update the Pay-As-You-Go requirement of budget neutrality on new tax and mandatory spending legislation, enforced by the threat of annual, automatic sequestration.

TREASURY DEPARTMENT FISCAL YEAR 2011 BUDGET

United States · United States House of Representatives · 24 February 2010

THE ADMINISTRATION'S FISCAL YEAR 2011 RESEARCH AND DEVELOPMENT BUDGET PROPOSAL

United States · United States House of Representatives · 24 February 2010

[H.A.S.C. No. 111-124] NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2011 AND OVERSIGHT OF PREVIOUSLY AUTHORIZED PROGRAMS BEFORE THE COMMITTEE ON ARMED SERVICES HOUSE OF REPRESENTATIVES ONE HUNDRED ELEVENTH CONGRESS SECOND SESSION

United States · United States House of Representatives · 24 February 2010

DEPARTMENT OF HOMELAND SECURITY APPROPRIATIONS FOR FISCAL YEAR 2011

United States · United States Senate · 24 February 2010

STATE, FOREIGN OPERATIONS, AND RELATED PROGRAMS APPROPRIATIONS FOR FISCAL YEAR 2011

United States · United States Senate · 24 February 2010

THE HOMELAND SECURITY DEPARTMENT'S BUDGET SUBMISSION FOR FISCAL YEAR 2011

United States · United States Senate · 24 February 2010

CHALLENGES AND OPPORTUNITIES IN THE NASA FISCAL YEAR 2011 BUDGET PROPOSAL

United States · United States Senate · 24 February 2010

DEPARTMENT OF HOMELAND SECURITY APPROPRIATIONS FOR FISCAL YEAR 2011

United States · United States Senate · 24 February 2010

STATE, FOREIGN OPERATIONS, AND RELATED PROGRAMS APPROPRIATIONS FOR FISCAL YEAR 2011

United States · United States Senate · 24 February 2010

Congressional Accountability Pay Act

United States · United States Congress · 24 February 2010

Congressional Accountability Pay Act - Amends the Legislative Reorganization Act of 1946 to revise the method of adjusting the annual rate of pay of Members of Congress. Requires a decrease in the rate of pay for each Member by a specified percentage if outlays for any fiscal year are greater than outlays for the preceding fiscal year. Amends the Federal Salary Act of 1967 to require that recommendations by the Citizens' Commission on Public Service and Compensation conform with this Act, except those for the salaries of the Chief Justice of the United States, judges of U.S. district courts, and judges of the U.S. Court of International Trade.

Virgin Islands Improvement Act of 2010

United States · United States Congress · 24 February 2010

Virgin Islands Improvement Act of 2010 - Amends the Internal Revenue Code to provide for a reduction of taxes on distributions from certain retirement savings plans designated by an individual under the age of 61 as being under investment by the Virgin Islands Investment Program for at least 30 years. Defines "Virgin Islands Investment Program" for purposes of this Act as a fund with managed amounts of $50 billion or less. Imposes a 1.5% annual tax for 10 years, and 1% thereafter, on managed funds to benefit Virgin Island infrastructure development.

Low Income Housing Tax Credit Exchange Expansion and Job Creation Act of 2010

United States · United States Congress · 24 February 2010

Low Income Housing Tax Credit Exchange Expansion and Job Creation Act of 2010 - Directs the Secretary of the Treasury to make grants to: (1) state housing credit agencies in lieu of low-income credit allocations in 2010; and (2) states for bond-subsidized housing projects. Requires state housing credit agencies and states to use grants to make subawards to finance the construction or acquisition and rehabilitation of qualified low-income buildings. Requires the return of grant funds not used to make such subawards before January 1, 2012.

Jobs Momentum Act of 2010

United States · United States Congress · 24 February 2010

Jobs Momentum Act of 2010 - Allows a reduction in 2010 and 2011 of an employer's payroll taxes by a specified percentage of the amount by which such employer increases aggregate payroll over the preceding calendar year.

Providing for consideration of the bill (H.R. 2701) to authorize appropriations for fiscal year 2010 for intelligence and intelligence-related activities of the United States Government, the Community Management Account, and the Central Intelligence Agency Retirement and Disability System, and for other purposes, waiving a requirement of clause 6(a) of rule XIII with respect to consideration of certain resolutions reported from the Committee on Rules, and providing for consideration of motions to suspend the rules.

United States · United States Congress · 24 February 2010

Sets forth the rule for consideration of the bill (H.R. 2701) to authorize appropriations for fiscal year 2010 for intelligence and intelligence-related activities of the United States Government, the Community Management Account, and the Central Intelligence Agency Retirement and Disability System, and for other purposes, waiving a requirement of clause 6(a) of rule XIII with respect to consideration of certain resolutions reported from the Committee on Rules, and providing for consideration of motions to suspend the rules.

HEARING ON THE PRESIDENT'S PROPOSED EPA BUDGET FOR FISCAL YEAR 2011

United States · United States Senate · 23 February 2010

U.S. DEPARTMENT OF VETERANS AFFAIRS OFFICE OF INSPECTOR GENERAL AND OFFICE OF INFORMATION TECHNOLOGY BUDGET REQUESTS FOR FISCAL YEAR 2011

United States · United States House of Representatives · 23 February 2010

THE VETERANS HEALTH ADMINISTRATION'S FISCAL YEAR 2011 BUDGET

United States · United States House of Representatives · 23 February 2010

[H.A.S.C. No. 111-123] NATIONAL DEFENSE AUTHORIZATION ACT FOR FISCAL YEAR 2011 AND OVERSIGHT OF PREVIOUSLY AUTHORIZED PROGRAMS BEFORE THE COMMITTEE ON ARMED SERVICES HOUSE OF REPRESENTATIVES ONE HUNDRED ELEVENTH CONGRESS SECOND SESSION

United States · United States House of Representatives · 23 February 2010

Bipartisan Tax Fairness and Simplification Act of 2010

United States · United States Congress · 23 February 2010

Bipartisan Tax Fairness and Simplification Act of 2010 - Declares as the purposes of this Act to: (1) make the federal individual income tax system simpler, fairer, and more transparent; (2) reduce the income tax rate on corporations, repeal the individual and corporate alternative minimum tax (AMT), and eliminate special tax preferences; and (3) reduce the federal budget deficit. Amends the Internal Revenue Code to: (1) reduce the number of tax brackets for individual taxpayers from six to three (i.e., 15, 25, and 35%); (2) increase the standard tax deduction; (3) eliminate miscellaneous itemized tax deductions after 2010; (4) exclude from gross income 35% of certain dividend income and gain on capital assets; (5) repeal the AMT for individuals; (6) allow a new tax credit for interest on state and local bonds; (7) revise rules for tax-exempt retirement plans and education tax credits and create tax-exempt Lifetime Savings Accounts; and (8) deny a tax deduction for punitive damages. Makes permanent specified provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 that: (1) increased the earned income, dependent care, and child tax credits; and (2) repealed limits on personal exemptions and itemized tax deductions. Requires the Internal Revenue Service (IRS), beginning on January 1, 2011, to provide taxpayers a simplified Easyfile pre-prepared income tax return and a one-page summary of federal spending on Social Security, Medicare, Medicaid, defense, and interest on the federal debt. Revises corporate and business-related taxation by: (1) imposing a flat 24% rate on the taxable income of corporations; (2) increasing the expensing allowance for depreciable assets; (3) repealing deferral of taxes on foreign income; and (4) requiring 30% withholding of certain payments to beneficiaries of foreign accounts. Directs the Congressional Budget Office (CBO) to identify and report to Congress on federal direct and indirect spending on businesses. Increases penalties for noncompliance with information reporting requirements. Sets forth rules and definitions for applying the economic substance doctrine to tax transactions. Imposes penalties for underpayments of tax due to transactions lacking in economic substance. Imposes a tax on Internet gambling.

Fiscal Freeze Act of 2010

United States · United States Congress · 23 February 2010

Fiscal Freeze Act of 2010 - Congressional Accountability and Line Item Veto Act of 2010 - Amends the Congressional Budget and Impoundment Control Act of 1974 to authorize the President to propose the repeal of any congressional earmark or the cancellation (line item veto) of any limited tariff or targeted tax benefit. Dedicates any such repeal or cancellation solely to deficit reduction or increase of a surplus. Prescribes procedures for expedited consideration in each chamber for such proposals. Authorizes the President temporarily to withhold congressional earmarks from obligation or suspend a limited tariff or targeted tax benefit. Expresses the sense of Congress on abuse of proposed repeals and cancellations. Makes it out of order in both chambers to consider legislation containing a congressional earmark or an earmark attributable to the President for any fiscal year in which there is or will be a deficit as determined by the Congressional Budget Office (CBO). Permits waiver or suspension of such prohibition, or successful appeals from rulings of the Chair, only by an affirmative vote of three-fifths (60) of the Senate. Directs the chairs of the congressional budget committees to each maintain a deficit reduction Discretionary Account and a deficit reduction Mandatory Account. Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to define the total level of discretionary spending for all non-security discretionary spending programs, projects, and activities to mean, in any fiscal year through FY2020 in which there is a deficit, an amount of discretionary spending outlays not exceeding the discretionary spending outlays for the preceding fiscal year as adjusted for inflation. Establishes total spending limits for FY2010-FY2020 and thereafter, as well as total deficit limits for FY2011-FY2020 and thereafter. Prescribes administrative procedures for: (1) spending reduction orders; and (2) sequestration reports for discretionary spending limits, total spending limits, and deficit limits. Amends the Congressional Budget Act of 1974 (CBA) with respect to spending and deficit limit enforcement mechanisms. Amends the Gramm-Rudman-Hollings Act to prescribe administrative and legislative procedures for spending reduction orders for discretionary spending limits, total spending limits, and deficit limits, with specified exceptions. Amends the Gramm-Rudman-Hollings Act to suspend sequestration procedures for the spending or deficit limits in this Act upon the enactment of a declaration of war or the joint resolution suspending certain provisions of law. Provides for continuing appropriations if any regular appropriation bill for a fiscal year (or, if applicable, for each fiscal year in a biennium) does not become law before the beginning of such fiscal year or a joint resolution making continuing appropriations is not in effect. (Thus prevents federal government shutdown.) Amends the CBA to require joint budget resolutions signed by the President (currently, concurrent resolutions, which do not have to be signed by the President). Repeals the requirement for submission to the House of Representatives of an allocation and sub-allocations, consistent with the discretionary spending levels in the most recently agreed to budget resolution, in the event that no new budget resolution becomes law before April 15 of any year. Requires consideration of budget-related legislation before the budget resolution becomes law. Prescribes procedures for expedited consideration in each chamber of a presidential veto of a budget resolution. Fiscal Discipline, Earmark Reform, and Accountability Act - Amends the Standing Rules of the Senate to revise procedures for consideration of points of order against consideration of certain general appropriations bills in the Senate. Amends the Rules to require all conference reports to be searchable online. Amends the Lobbying Disclosure Act of 1995 to require a recipient of federal funds to disclose any registered lobbyist to whom the recipient paid money to lobby on behalf of such funding, including the amount of such funds.

To amend the Internal Revenue Code of 1986 to increase the dollar limitation on expensing certain depreciable assets and to extend the deduction for an additional year.

United States · United States Congress · 23 February 2010

Amends the Internal Revenue Code to: (1) increase to $250,000 the expensing allowance for depreciable business assets in 2010 and 2011; and (2) extend through 2011 related provisions, including increased expensing for certain computer software.

Small Business Expansion and Job Creation Act of 2010

United States · United States Congress · 23 February 2010

Small Business Expansion and Job Creation Act of 2010 - Amends the Internal Revenue Code to extend through 2010: (1) the increased ($250,000) expensing allowance for depreciable business assets; (2) the additional 50% depreciation allowance for certain types of investment property acquired in 2010; and (3) the election to accelerate the tax credits for the alternative minimum tax and research expenditures in lieu of bonus depreciation.

Enhancing Investment in Small Businesses Act of 2010

United States · United States Congress · 23 February 2010

Enhancing Investment in Small Businesses Act of 2010 - Amends the Internal Revenue Code to allow an exclusion from gross income of all gain from the sale or exchange of qualified small business stock held for more than five years.

Debt Free America Act

United States · United States Congress · 23 February 2010

Debt Free America Act - States as purposes of this Act the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax. Amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding nonrefundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument. Defines "transaction" to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions. Establishes in the legislative branch the Bipartisan Task Force for Responsible Fiscal Action to review the fiscal imbalance of the federal government and make recommendations to improve such imbalance. Provides for expedited consideration by Congress of Task Force recommendations. Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals. Directs the Secretary of the Treasury to: (1) prioritize the repayment of the national debt to protect the fiscal stability of the United States; and (2) study and report to Congress on the implementation of this Act.

Establishing an earmark moratorium for fiscal year 2011.

United States · United States Congress · 23 February 2010

Makes it out of order in the House to consider legislation reported or not reported by any committee, or any amendment or conference report, that includes a congressional earmark or limited tax or tariff benefit. Applies such prohibition only to legislation providing or authorizing discretionary budget authority, credit authority, or other spending authority, providing a federal tax deduction, credit, or exclusion, or modifying the Harmonized Tariff Schedule in FY2011. Excludes from such prohibition any authorization of appropriations to a federal entity which is not specifically targeted to a state, locality, or congressional district. Prohibits the House Committee on Rules from reporting a rule or order that would waive such point of order.

American Job Creation and Investment Act

United States · United States Congress · 22 February 2010

American Job Creation and Investment Act - Amends the Internal Revenue Code to allow a corporation to elect in 2010 and 2011 to increase its alternative minimum tax (AMT) credits by a specified credit adjustment amount for purposes of increasing its U.S. workforce and making investments in business equipment. Terminates such additional credit allowance after December 31, 2011.

Help Small Businesses Start and Grow Act of 2010

United States · United States Congress · 22 February 2010

Help Small Businesses Start and Grow Act of 2010 - Amends the Internal Revenue Code to: (1) allow an increased tax deduction for business start-up expenditures in 2009, 2010, or 2011; (2) allow a standard tax deduction for the business use of a home; (3) increase the rate of the tax deduction for business meals and entertainment expenses; and (4) extend bonus depreciation allowances through 2012. Directs the Administrator of the Small Business Administration (SBA) to: (1) establish and carry out a small business direct lending program; (2) report to the House and Senate Small Business Committees on the loan program, including the number and amount of loans made under the program. Requires the Comptroller General to evaluate the effectiveness of the program and identify any waste or abuse relating to the program.

Back to Work Act of 2010

United States · United States Congress · 22 February 2010

Back to Work Act of 2010 - Amends the Internal Revenue Code to: (1) exempt for-profit and nonprofit employers from social security taxes in 2010 for new employees who are hired after February 3, 2010, and before January 1, 2011, and who certify that they have not worked more than 40 hours during the last 60 days; and (2) allow an increase in the general business tax credit for the retention of such employees for at least one year at specified wage levels. Prohibits a carryback of unused business tax credit amounts to previous taxable years. Appropriates to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund under title II of the Social Security Act amounts necessary to cover any reduction in revenues resulting from the tax exemptions provided by this Act.

REVAMP Act of 2010

United States · United States Congress · 22 February 2010

Renovate and Enhance Veterans' Meeting Halls and Posts Act of 2010 or the REVAMP Act of 2010 - Amends the Housing and Community Development Act of 1974 to require the Secretary of Housing and Urban Development (HUD) to make grants, on a competitive basis, to eligible veterans service organizations for repairs and rehabilitation of their existing facilities. Defines "eligible veterans service organization" as: (1) a tax-exempt entity organized on a local or area basis; and (2) a local or area chapter, post, or other unit of a national, regional, statewide, or other larger entity of which local or area chapters, posts, or units are members (but not any such national, regional, statewide, or other larger entity itself). Prohibits an eligible veterans service organization from receiving such grant amounts, for any single fiscal year, in an amount exceeding the lesser of the cost of the proposed repair or rehabilitation or $200,000. Makes a grant recipient ineligible to receive another such grant until after five succeeding fiscal years. Prohibits the use of such grants for construction or acquisition of a new facility.

Wall Street Bonus Tax Act

United States · United States Congress · 11 February 2010

Wall Street Bonus Tax Act - Amends the Internal Revenue Code to: (1) impose a tax on current or former employees of recipients of financial assistance under the Trouble Asset Relief Program (TARP) for 50% of any bonus exceeding $25,000 paid to them during 2010; and (2) establish in the Treasury the Small Business Growth Fund to hold revenues from such tax. Requires the Administrator of the Small Business Administration (SBA) to establish and carry out a program to make loans directly to small business concerns. Makes amounts from such Fund available to carry out such program.

Civil Service Reform and Government Reorganization Commission Act of 2009

United States · United States Congress · 9 February 2010

Civil Service Reform and Government Reorganization Commission Act of 2009 - Establishes the Civil Service Reform and Government Reorganization Commission to study and report to the President and Congress on: (1) the federal compensation system; (2) recruiting individuals for the federal workforce; (3) expediting and improving hiring processes; (4) retaining a high-quality federal workforce and providing continuing professional education to maintain the quality of such workforce and ensure the efficient conduct of the government; (5) policies and barriers related to the termination of under-performing workers; (6) the role and oversight of federal contractors and issues related to contractor assumption of federal duties to ensure delineation between functions that are inherently governmental functions and those that are not; (7) the extent to which greater efficiencies can be achieved by the process of attrition; and (8) proposed legislation to implement recommended improvements. Prohibits the Commission's recommendations from including any provisions which would have the effect of creating any new tax or providing for any increase in a tax rate. Sets forth expedited procedures for legislation to implement Commission's recommendations.

Small Business Job Creation Act of 2010

United States · United States Congress · 9 February 2010

Small Business Job Creation Act of 2010 - Amends the Internal Revenue Code to allow small business employers whose gross receipts in the preceding taxable year did not exceed $20 million or who did not employ more than 200 full-time employees a work opportunity tax credit for hiring unemployed individuals as full-time employees during 2010 or 2011. Doubles the rate of such credit for employers located in counties with high unemployment rates.

STATE TAXATION: THE ROLE OF CONGRESS IN DEFINING NEXUS

United States · United States House of Representatives · 4 February 2010

PRESIDENT'S FISCAL YEAR 2011 BUDGET FOR THE DEPARTMENT OF HEALTH AND HUMAN SERVICES

United States · United States House of Representatives · 4 February 2010

DOE BUDGET FOR FISCAL YEAR 2011

United States · United States Senate · 4 February 2010

A bill to amend the Internal Revenue Code of 1986 to establish a new Small Business Startup Savings Account.

United States · United States Congress · 4 February 2010

Amends the Internal Revenue Code to provide for tax preferred Small Business Startup Savings Accounts to pay for trade or business expenses, including operating capital, the purchase of equipment or facilities, marketing, training, incorporation, and accounting fees. Allows annual contributions to such accounts up to $10,000. Sets forth rules for the tax treatment of contributions to and rollovers from such accounts, similar to rules governing individual retirement accounts (IRAs).

Hire Now Tax Cut Act of 2010

United States · United States Congress · 4 February 2010

Hire Now Tax Cut Act of 2010 - Amends the Internal Revenue Code to: (1) exempt for-profit and nonprofit employers from social security taxes in 2010 for new employees who are hired after February 3, 2010, and before January 1, 2011, and who certify that they have not worked more than 40 hours during the last 60 days; and (2) allow an increase in the general business tax credit for the retention of such employees for at least one year at specified wage levels. Appropriates to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund under title II of the Social Security Act amounts necessary to cover any reduction in revenues resulting from the tax exemptions provided by this Act.

Taxpayer Fairness Act

United States · United States Congress · 4 February 2010

Taxpayer Fairness Act - Amends the Internal Revenue Code to: (1) impose a 50% tax on bonuses, including retention bonuses, exceeding $400,000 paid in 2009 to employees of financial institutions (including the Federal National Mortgage Association [Fannie Mae] and the Federal Home Loan Mortgage Corporation [Freddie Mac]) that received $5 billion or more in emergency economic assistance from the federal government; and (2) limit the business tax deduction for such bonuses to 50% of the amount of such bonuses.

A bill to establish an earmark moratorium for fiscal years 2010 and 2011.

United States · United States Congress · 4 February 2010

Makes it out of order in the Senate to consider any of the following legislation that includes a congressional earmark or limited tax or tariff benefit: (1) a bill or joint resolution reported by any committee; (2) a Senate bill or joint resolution not reported by committee; (3) a conference report; (4) a floor amendment to a bill or joint resolution; or (5) an amendment between the two chambers. Provides that if such prohibition is sustained, the legislation shall be returned to the calendar until compliance with this Act is achieved. Permits a waiver of such prohibition in the Senate by an affirmative vote of two-thirds of the Members. Applies such prohibition only to legislation in FY2010-FY2011 providing or authorizing discretionary budget authority, credit authority, or other spending authority, providing a federal tax deduction, credit, or exclusion, or modifying the Harmonized Tariff Schedule in a manner that benefits 10 or fewer entities. Exempts from such prohibition any authorization of appropriations to a federal entity which is not specifically targeted to a state, locality, or congressional district.

A bill to amend the Internal Revenue Code of 1986 to eliminate the drawback fee on the manufacture or production of certain distilled spirits used in nonbeverage products.

United States · United States Congress · 4 February 2010

Amends the Internal Revenue Code to eliminate the drawback fee on the manufacture or production of distilled spirits used in non-beverage products (i.e., medicines, medicinal preparations, food products, flavors, flavoring extracts, or perfume, which are unfit for beverage purposes).