Congress 109 - HR 4388 - Tax Revision Act of 2005

Sponsor

Cosponsors

Topics

Agriculture and Food Alcohol tax Armed Forces and National Security Caribbean area Collection of accounts Commerce Crime and Law Enforcement Earned income tax credit Economics and Public Finance Education Exports Federal-territorial relations Finance and Financial Sector Foreign Trade and International Finance Free trade Government Operations and Politics Higher education Imports Income tax Intergovernmental tax relations International Affairs Latin America Military pay Puerto Rico Revenue sharing Social Welfare Student loan funds Tariff preferences Tax administration Tax deductions Tax returns Taxation Terrorism Trade agreements Undercover operations Valuation Virgin Islands

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Summary

Tax Revision Act of 2005 - Amends the Internal Revenue Code to extend through 2006: (1) the taxpayer election to include combat zone compensation as earned income for purposes of computing the earned income tax credit; (2) the increased cover over (payment) to the Treasuries of Puerto Rico and the Virgin Islands of distilled spirit excise tax revenues; (3) the authority for certain Internal Revenue Service (IRS) undercover investigative operations; and (4) the authority for disclosure of tax return information for combined employment tax reporting, for combating terrorist activities, and for student loan repayment.

Allows, through 2006, the tax deduction for income attributable to domestic production activities for taxpayers with income from sources in Puerto Rico.

Amends the Dominican Republic-Central America-United States Free Trade Agreement Implementation Act (CAFTA-DR) to revise formulae for determining the regional value-content of certain import/export goods.

Actions

Dec 13, 2005

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 327.
Dec 12, 2005

Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Dec 7, 2005

Motion to reconsider laid on the table Agreed to without objection.
Dec 7, 2005

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 423 - 0 (Roll no. 617). (text: CR H11150)
Dec 7, 2005

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 423 - 0 (Roll no. 617).(text: CR H11150)
Dec 7, 2005

Considered as unfinished business. (consideration: CR H11181-11182)
Dec 7, 2005

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Dec 7, 2005

DEBATE - The House proceeded with forty minutes of debate on H.R. 4388.
Dec 7, 2005

Considered under suspension of the rules. (consideration: CR H11150-11152)
Dec 7, 2005

Mr. McCrery moved to suspend the rules and pass the bill, as amended.
Nov 18, 2005

Referred to the House Committee on Ways and Means.
Nov 18, 2005

Introduced in House

Amendments

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