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United States · Bill · S

S. 14 (110th)

Invest in America Act

referredUnited States· United States Congress· EN

Introduced

17 April 2007

Last action

17 April 2007 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Kyl, Jon [R-AZ], Sen. McConnell, Mitch [R-KY], Sen. Grassley, Chuck [R-IA], Sen. Lott, Trent [R-MS], Sen. Ensign, John [R-NV], Sen. Hatch, Orrin G. [R-UT], Sen. Thomas, Craig [R-WY], Sen. Smith, Gordon H. [R-OR], Sen. Bunning, Jim [R-KY], Sen. Crapo, Mike [R-ID], Sen. Roberts, Pat [R-KS], Sen. DeMint, Jim [R-SC], Sen. Alexander, Lamar [R-TN], Sen. Martinez, Mel [R-FL], Sen. Chambliss, Saxby [R-GA], Sen. Brownback, Sam [R-KS], Sen. Craig, Larry E. [R-ID], Sen. Allard, Wayne [R-CO], Sen. Graham, Lindsey [R-SC], Sen. Enzi, Michael B. [R-WY], Sen. Inhofe, James M. [R-OK], Sen. Burr, Richard [R-NC], Sen. Coburn, Tom [R-OK], Sen. Vitter, David [R-LA], Sen. Isakson, Johnny [R-GA], Sen. Specter, Arlen [R-PA]

Subjects

Taxation

Source updated

14 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Invest in America Act - Repeals the general termination date (i.e., December 31, 2010) of the Economic Growth and Tax Relief Reconciliation Act of 2001 (thus making provisions of that Act that reduce income tax rates and repeal the estate and gift tax permanent). Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 applicable to the reduction in taxes on dividends and capital gains. Amends the Internal Revenue Code to make permanent: (1) the tax credit for increasing research activities; (2) the increased expensing allowance for small business assets; and (3) the tax deduction for certain expenses of elementary and secondary school teachers. Repeals the alternative minimum tax on individuals after 2006. Expresses the sense of the Senate that the Committee on Finance should report legislation before December 31, 2007, to simplify the federal income tax system, without raising tax rates.

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

Timeline

  1. 17 April 2007

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 17 April 2007

    Introduced

    Sponsor introductory remarks on measure. (CR S4602-4604)

    Source: IntroReferral

  3. 17 April 2007

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 17 April 2007

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 17 April 2007

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 17 April 2007

    Open at official source

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Sponsors

Related records

Sources

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