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United States · Bill · HR

H.R. 470 (111th)

Economic Recovery and Middle-Class Tax Relief Act of 2009

referredUnited States· United States Congress· EN

Introduced

13 January 2009

Last action

13 January 2009 · Introduced

Status

Referred to House Appropriations

Sponsors

Rep. Garrett, Scott [R-NJ-5], Tom Price, Jim Jordan, Rep. Bachmann, Michele [R-MN-6], Marsha Blackburn, Doug Lamborn, Kenny Marchant, Rep. Myrick, Sue Wilkins [R-NC-9], Rep. Mack, Connie [R-FL-14], Rep. Akin, W. Todd [R-MO-2], Cynthia Lummis, Joe Wilson, Rep. Gingrey, Phil [R-GA-11], Sen. Flake, Jeff [R-AZ], Jason Chaffetz, Rep. Pence, Mike [R-IN-6], Rep. Manzullo, Donald A. [R-IL-16], Michael McCaul, Virginia Foxx, Rep. Kline, John [R-MN-2], Steve Scalise, Rep. Bartlett, Roscoe G. [R-MD-6], Rep. Pitts, Joseph R. [R-PA-16], Gregg Harper, Rep. Fallin, Mary [R-OK-5], Louie Gohmert, Blaine Luetkemeyer, Rep. Burton, Dan [R-IN-6], Rep. Kingston, Jack [R-GA-1], Rep. Broun, Paul C. [R-GA-10], Mike Coffman, Robert Wittman, Rep. Forbes, J. Randy [R-VA-4], Pete Sessions, Ted Poe, Rep. Radanovich, George [R-CA-19], Tom McClintock, Robert Aderholt, Rep. Paul, Ron [R-TX-22], Rep. Wamp, Zach [R-TN-3], Jeb Hensarling, Pete Olson, Robert Latta, Rep. Deal, Nathan [R-GA-9], KEVIN BRADY, Rep. Westmoreland, Lynn A. [R-GA-3], Bill Posey, Rep. Fleming, John [R-LA-4]

Subjects

Defence, Taxation, Education

Source updated

14 August 2025

Defence · Taxation · Education

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Summary

Economic Recovery and Middle-Class Tax Relief Act of 2009 - Makes permanent the reductions in the dividend and capital gain tax enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Amends the Internal Revenue Code to: (1) reduce individual and corporate income tax rates; (2) repeal the alternative minimum tax for individual taxpayers; (3) allow inflation adjustments to the basis of capital assets in determining gain or loss; (4) reduce the capital gains tax rate for corporations; (5) repeal limitations on the expensing allowance for depreciable business assets; (6) make permanent the tax credit for increasing research activities; (7) extend the carryback period for net operating losses to seven years; (8) increase the child tax credit; (9) exclude from gross income in 2009 distributions from an individual retirement plan (IRA) and exempt IRAs from mandatory distribution requirements after 2009; and (10) increase the tax deductions for tuition and related expenses and for the interest on qualified education loans. Makes 1% across-the-board rescissions in non-defense discretionary spending for FY2009.

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

Timeline

  1. 13 January 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 13 January 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 13 January 2009

    Introduced

    Referred to House Ways and Means

    Source: IntroReferral

  4. 13 January 2009

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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Sponsors

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Related records

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Sources

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