Save America's National Economy Act
Latest action · Sep 21, 2012 Referred to the Committee on the Budget, and in addition to the Committee on Ways and Means, 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.
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.
- IntroducedSep 21, 2012
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Save America's National Economy Act - Repeals provisions of the Balanced Budget and Emergency Deficit Control Act of 1985, as added by the Budget Control Act of 2011, that require automatic reductions in discretionary spending (sequestration) between FY2013 and FY2021.
Amends the Internal Revenue Code to: (1) increase individual income tax rates for taxpayers whose taxable income exceeds $1 million, and (2) provide for an adjustment in the capital gains tax of taxpayers whose taxable income is subject to the 45% tax bracket.
Establishes caps on funding levels for overseas contingency operations and related activities for FY2013-FY2021.
Cosponsors 1
Members who signed on, in the order they did. All signed on Sep 21, 2012.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-IL | Janice D. Schakowsky | Original | Sep 21, 2012 |
Actions 2
Everything that happened, newest first.
- Sep 21, 2012Introduced in House
- Sep 21, 2012Referred to the Committee on the Budget, and in addition to the Committee on Ways and Means, 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.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 1124 | Fairness in Taxation Act of 2011 | Related bill | Mar 16, 2011 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Sep 21, 2012Introduced in House
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.