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United States · Bill · HR

H.R. 3903 (112th)

Paying a Fair Share Act of 2012

openUnited States· United States Congress· EN

Introduced

6 February 2012

Last action

7 February 2012 · Introduced

Status

Sponsor introductory remarks on measure. (CR H522)

Sponsors

Sen. Baldwin, Tammy [D-WI], Rep. Sutton, Betty [D-OH-13], Sen. Welch, Peter [D-VT], Rep. Johnson, Henry C. "Hank" [D-GA-4], Rep. Jackson, Jesse L., Jr. [D-IL-2], JOHN CONYERS, Marcy Kaptur, Gwen Moore, James McGovern, Barbara Lee, Rep. Honda, Michael M. [D-CA-17], Rep. Filner, Bob [D-CA-51], David Cicilline, Rep. Holt, Rush [D-NJ-12], Rep. Farr, Sam [D-CA-20], Keith Ellison, DAVID PRICE, Rep. Olver, John W. [D-MA-1], Del. Norton, Eleanor Holmes [D-DC-At Large], Sen. Hirono, Mazie K. [D-HI], JAMES LANGEVIN, Rep. Pingree, Chellie [D-ME-1], Frederica Wilson, Sen. Peters, Gary C. [D-MI], Rep. Scott, Robert C. "Bobby" [D-VA-3], Rep. Berkley, Shelley [D-NV-1], Grace Napolitano, Rick Larsen, EDDIE JOHNSON, Rep. Dingell, John D. [D-MI-16], Rep. Carnahan, Russ [D-MO-3], Bill Pascrell, Rep. Hahn, Janice [D-CA-44], Rep. Chu, Judy [D-CA-28], WM. CLAY, Sen. Murphy, Christopher [D-CT], Rep. Moran, James P. [D-VA-8], CAROLYN MALONEY, ALCEE HASTINGS, Rep. Miller, Brad [D-NC-13], Rep. Reyes, Silvestre [D-TX-16], Rep. Towns, Edolphus [D-NY-11], Rep. Miller, George [D-CA-7], Sen. Luján, Ben Ray [D-NM], Rep. Doggett, Lloyd [D-TX-37], Rep. Owens, William L. [D-NY-21], Linda Sánchez, PETER DEFAZIO

Subjects

Taxation

Source updated

5 December 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Paying a Fair Share Act of 2012 - 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 2013. 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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 6 February 2012

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 6 February 2012

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 6 February 2012

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 7 February 2012

    Introduced

    Sponsor introductory remarks on measure. (CR H522)

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

View fileDownload file

Sponsors

Showing 48 of 74 sponsors and actors.

Related records

Sources

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