HR 5974 · 112th Congress 2011–2013, ended

Invest in America Now Act of 2012

Introduced Jun 20, 2012 Originated House Sponsor Sander M. Levin D-MI

Latest action · Jun 20, 2012 Referred to the House Committee on Ways and Means.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

IntroducedJun 20, 2012
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Invest in America Now Act of 2012 - Amends the Internal Revenue Code to: (1) extend through 2012 the 100% bonus depreciation allowance for business assets; (2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation; and (3) deny major integrated oil companies a tax deduction for income attributable to the domestic production, transportation, or distribution of oil, natural gas, and primary products thereof.

Cosponsors 17

Members who signed on, in the order they did. Signatures ran from Jun 20, 2012 to Jul 17, 2012; 14 are original cosponsors, there from the day it was introduced.

Seat	Cosponsor		Signed on
D-NJ	Bill Pascrell, Jr.	Original	Jun 20, 2012
D-NY	Charles B. Rangel	Original	Jun 20, 2012
D-MD	Chris Van Hollen	Original	Jun 20, 2012
D-OR	Earl Blumenauer	Original	Jun 20, 2012
D-CA	Fortney Pete Stark	Original	Jun 20, 2012
D-WA	Jim McDermott	Original	Jun 20, 2012
D-CT	John B. Larson	Original	Jun 20, 2012
D-GA	John Lewis	Original	Jun 20, 2012
D-NY	Joseph Crowley	Original	Jun 20, 2012
D-CA	Mike Thompson	Original	Jun 20, 2012
D-MA	Richard E. Neal	Original	Jun 20, 2012
D-WI	Ron Kind	Original	Jun 20, 2012
D-NV	Shelley Berkley	Original	Jun 20, 2012
D-CA	Xavier Becerra	Original	Jun 20, 2012
D-ME	Michael H. Michaud		Jul 9, 2012
D-WI	Tammy Baldwin		Jul 9, 2012
D-RI	David N. Cicilline		Jul 17, 2012

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

Chamber	Committee	What it did
House	Ways and Means Committee	Referred Jun 20, 2012

Actions 2

Everything that happened, newest first.

Jun 20, 2012Introduced in House
Jun 20, 2012Referred to the House Committee on Ways and Means.

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: The Congress enacts this bill pursuant to Sections 7 & 8 of Article I of the United States Constitution and Amendment XVI of the United States Constitution.

The sponsor’s statement, as printed in the page H3915.

Related bills 6

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
S 12	Job Creation Act of 2011	Related bill	Jan 25, 2011
HR 1773	Made in America Act of 2011	Related bill	May 5, 2011
S 2237	Small Business Jobs and Tax Relief Act	Related bill	Jul 12, 2012
S 2240	A bill to amend the Internal Revenue Code of 1986 to extend the allowance for bonus depreciation for certain business assets.	Related bill	Mar 27, 2012
HR 3630	Middle Class Tax Relief and Job Creation Act of 2012	Related bill	Feb 22, 2012

Show all 6 related bills

Titles 2

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To amend the Internal Revenue Code of 1986 to extend bonus depreciation, and for other purposes.
Short Titles as Introduced: Invest in America Now Act of 2012

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

Jun 20, 2012Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.