United States · Bill · S
S. 552 (112th)
Emergency Deficit Reduction Act
Introduced
10 March 2011
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
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Subjects
Discovery layer
Source updated
14 August 2025
Summary
Emergency Deficit Reduction Act - Amends the Internal Revenue Code to: (1) impose an additional 5.4% tax on individual taxpayers whose modified adjusted gross income exceeds $1 million ($2 million in the case of a joint return); (2) repeal the amortization of intangible and drilling and development costs for oil, gas, and geothermal wells; (3) repeal the percentage depletion allowance for oil and gas wells; and (4) deny a tax deduction for income attributable to the domestic production of oil, natural gas, or primary products thereof.
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Votes
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Versions
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 10 March 2011
Introduced in Senate (PDF)
Introduced in Senate · EN · 10 March 2011
Introduced in Senate
summary · EN · 10 March 2011
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/112th-congress/senate-bill/552
- Open data entity: https://api.congress.gov/v3/bill/112/s/552