Economic Security and Worker Assistance Act of 2001

Summary

Economic Security and Worker Assistance Act of 2001 - Amends the Internal Revenue Code to: (1) provide for a supplemental rebate; and (2) accelerate the 25 percent individual income tax rate. Sets forth provisions specifically applicable to business, including: (1) a special depreciation allowance for certain property acquired after September 10, 2001, and before September 11, 2004; (2) a temporary increase in section 179 expensing; and (3) an increased carryback period for certain losses. Extends varied expiring provisions, including: (1) the credits for qualified electric vehicles, work opportunity credit, and the welfare-to-work credit; and (2) provisions concerning the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties, parity in the application of certain limits to mental health benefits, and the availability of medical savings accounts. Reauthorizes Temporary Assistance for Needy Families supplemental grants for population increases for FY 2002. Provides special allowances for a designated "New York Liberty Zone" for the area damaged in the September 11, 2001, terrorist attacks. Provides for specified tax relief for victims of terrorist attacks and presidentially declared and other disasters. Temporary Extended Unemployment Compensation Act of 2001 - Provides a program of temporary extended unemployment compensation. Establishes a displaced worker health insurance credit. Amends the Workforce Investment Act of 1998, with respect to national emergency grants, to authorize grants for employment and training assistance and temporary health care coverage assistance to workers affected by major economic dislocations. Amends the Social Security Act to provide for temporary State health care assistance.

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Documents

11 official files

• Engrossed Amendment Senate (text)

  Engrossed Amendment Senate · EN · 15 November 2002

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• Engrossed Amendment Senate (PDF)

  Engrossed Amendment Senate · EN · 15 November 2002

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• Passed Senate amended

  summary · EN · 14 November 2002

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• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 23 January 2002

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• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 23 January 2002

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• Engrossed in House (text)

  Engrossed in House · EN · 21 December 2001

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• Engrossed in House (PDF)

  Engrossed in House · EN · 21 December 2001

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• Passed House amended

  summary · EN · 20 December 2001

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• Considered and Passed House (text)

  Considered and Passed House · EN · 19 December 2001

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• Considered and Passed House (PDF)

  Considered and Passed House · EN · 19 December 2001

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• Introduced in House

  summary · EN · 19 December 2001

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