Stop the Sequester Job Loss Now Act

Summary

Stop the Sequester Job Loss Now Act - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to repeal the FY2013 sequester and reduce the FY2014 sequester. Eliminates the 2% maximum permissible reduction in budget authority for veterans' medical care. Extends through FY2014 agricultural commodity programs generally under the Food, Conservation, and Energy Act of 2008, but not the direct payment programs for wheat, corn, grain sorghum, barley, oats, upland cotton, long and medium grain rice, soybeans, other oilseeds, and peanuts. Amends the Internal Revenue Code, with respect to deductions from income, to set a special rule that a major integrated oil company's domestic production gross receipts shall not include any gross receipts from the production, refining, processing, transportation, or distribution of oil, natural gas, or any of their primary products. Prohibits a major integrated oil company from using the last-in, first-out (LIFO) accounting method in inventorying goods. Prescribes a special rule to limit the foreign tax credit and tax deferrals for amounts paid or accrued by a major integrated oil company that is a dual capacity taxpayer (a person subject to a levy of a foreign country or U.S. possession and receives, or will receive, directly or indirectly a specific economic benefit from such county or possession). Requires an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum (fair share) 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. Declares that it is the sense of the House that Congress should replace the entire 10-year sequester established by the Budget Control Act of 2011 with a balanced approach that would: (1) increase revenues without increasing the tax burden on middle-income Americans; and (2) decrease long-term spending while maintaining the Medicare guarantee, protecting Social Security and a strong social safety net, and making strategic investments in education, science, research, and critical infrastructure necessary to compete in the global economy.

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

Timeline

1. 14 February 2013

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Agriculture, 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

2. 14 February 2013

   Introduced

   Introduced in House

   Source: IntroReferral

3. 14 February 2013

   Introduced

   Introduced in House

   Source: IntroReferral

4. 1 March 2013

   Referred

   Referred to the Subcommittee on General Farm Commodities and Risk Management.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 14 February 2013 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 February 2013

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 14 February 2013

  ViewDownloadOpen at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in House

  summary · EN · 14 February 2013

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Van Hollen, Chris [D-MD] · D · Sponsor
• Rep. Hoyer, Steny H. [D-MD-5] · D · Sponsor
• Rep. Miller, George [D-CA-11] · D · Sponsor
• Rep. DeLauro, Rosa L. [D-CT-3] · D · Sponsor
• Rep. Pocan, Mark [D-WI-2] · D · Sponsor
• Rep. Castor, Kathy [D-FL-14] · D · Sponsor
• Rep. Moran, James P. [D-VA-8] · D · Sponsor
• Rep. Kildee, Daniel T. [D-MI-5] · D · Sponsor
• Rep. Huffman, Jared [D-CA-2] · D · Sponsor
• Rep. Holt, Rush [D-NJ-12] · D · Sponsor
• Rep. Tsongas, Niki [D-MA-3] · D · Cosponsor
• Rep. Keating, William R. [D-MA-9] · D · Cosponsor
• Rep. Tierney, John F. [D-MA-6] · D · Cosponsor
• Rep. Moore, Gwen [D-WI-4] · D · Cosponsor
• Rep. Cicilline, David N. [D-RI-1] · D · Cosponsor
• Rep. Swalwell, Eric [D-CA-15] · D · Cosponsor
• Rep. Esty, Elizabeth H. [D-CT-5] · D · Cosponsor
• ROBERT BRADY · D · Cosponsor
• Rep. Johnson, Henry C. "Hank" [D-GA-4] · D · Cosponsor
• Rep. Shea-Porter, Carol [D-NH-1] · D · Cosponsor
• Rep. Langevin, James R. [D-RI-2] · D · Cosponsor
• · hsag00 · Standing
• · hsbu00 · Standing
• · hswm00 · Standing

Related records

• related to ← Paying a Fair Share Act of 2013
• related to ← Medical Device Tax Elimination Act
• related to ← Stop the Sequester Job Loss Now Act Through 2014
• related to ← End Welfare for Big Oil Act of 2013
• related to ← Job Preservation and Economic Certainty Act of 2013
• related to ← Job Preservation and Sequester Replacement Act of 2013
• related to ← Paying a Fair Share Act of 2013
• related to ← IDEA Full Funding Act