Congress 107 - HR 2111 - Small Business Tax Fairness Act of 2001

Sponsor

Cosponsors

Topics

Accounting Agriculture and Food Alcohol tax Alcoholic beverage industry Alcoholic beverages Beer Business income tax Business records Commerce Costs Crime and Law Enforcement Debt Depreciation and amortization Expense accounts Farm income Farmers Finance and Financial Sector Fines (Penalties) Fisheries Forfeiture Government Operations and Politics Government paperwork Health Health insurance Housing and Community Development Income tax Industrial development bonds Insurance premiums Labor and Employment Law Marine and coastal resources, fisheries Medical economics Minimum tax Minimum wages Mortgage loans Mortgages Personal income tax Retail trade Self-employed Small business Tax administration Tax deductions Tax exclusion Taxation Wholesale trade Wine

Full Text

View Full Bill Text

Votes

Summary

Small Business Tax Fairness Act of 2001 - Amends the Internal Revenue Code, with respect to small businesses, to, among other things: (1) provide for the full deduction of the health insurance costs of self-employed individuals; (2) increase the expensing limitation; (3) increase the business meal deduction, including individuals subject to Federal hours of service limits; (4) exclude income averaging for farmers and fishermen from alternative minimum tax liability; (5) repeal occupational taxes relating to distilled spirits, wine, and beer; (6) provide for an accelerated phase-in of specified increases in the volume cap on private activity bonds; and (7) exclude, subject to limitation, from gross income the discharge of certain qualified residential indebtedness.

Minimum Wage Increase Act of 2001 - Amends the Fair Labor Standards Act of 1938 to increase the Federal minimum wage, as of September 1, 2001, and April 1, 2002, respectively.

Actions

Aug 10, 2001

Referred to the Subcommittee on Workforce Protections.
Jun 7, 2001

Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
Jun 7, 2001

Introduced in House

Amendments

Related Bills