Paying a Fair Share Act of 2012
Latest action · Apr 16, 2012 Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 51 - 45. Record Vote Number: 65. (consideration: CR S2313; text: CR S2313)
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.
- IntroducedMar 22, 2012
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Paying a Fair Share Act of 2012 - Amends the Internal Revenue Code to require an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year (tentative fair share tax). Establishes the amount of such tax as the excess (if any) of the tentative fair share tax over the excess of: (1) the sum of the taxpayer's regular tax liability, the alternative minimum tax (AMT) amount, and the payroll tax for the taxable year; over (2) certain tax credits. Provides for a phase-in of such tax. Requires an inflation adjustment to the $1 million income threshold for taxable years beginning after 2013.
Expresses the sense of the Senate that Congress should enact tax reform that repeals unfair and unnecessary tax loopholes and expenditures, simplifies the tax system, and makes sure that the wealthiest taxpayers pay a fair share of taxes.
Recorded votes 1
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| Senate 65 | On Cloture on the Motion to Proceed S. 2230 | Cloture on the Motion to Proceed Rejected51–45 | Apr 16, 2012 |
Cosponsors 16
Members who signed on, in the order they did. Signatures ran from Mar 22, 2012 to Apr 18, 2012; 13 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Al Franken | Original | Mar 22, 2012 |
| D-CA | Barbara Boxer | Original | Mar 22, 2012 |
| I-VT | Bernard Sanders | Original | Mar 22, 2012 |
| D-MI | Carl Levin | Original | Mar 22, 2012 |
| D-NY | Charles E. Schumer | Original | Mar 22, 2012 |
| D-HI | Daniel K. Akaka | Original | Mar 22, 2012 |
| D-RI | Jack Reed | Original | Mar 22, 2012 |
| D-WV | John D. Rockefeller IV | Original | Mar 22, 2012 |
| D-AK | Mark Begich | Original | Mar 22, 2012 |
| D-VT | Patrick J. Leahy | Original | Mar 22, 2012 |
| D-CT | Richard Blumenthal | Original | Mar 22, 2012 |
| D-IL | Richard J. Durbin | Original | Mar 22, 2012 |
| D-IA | Tom Harkin | Original | Mar 22, 2012 |
| D-NJ | Frank R. Lautenberg | Apr 16, 2012 | |
| D-OR | Jeff Merkley | Apr 16, 2012 |
Actions 9
Everything that happened, newest first.
- Apr 16, 2012Motion to proceed to measure considered in Senate. (consideration: CR S2289-2293, S2294-2305, S2313-2314)
- Apr 16, 2012Cloture on the motion to proceed to the measure not invoked in Senate by Yea-Nay Vote. 51 - 45. Record Vote Number: 65. (consideration: CR S2313; text: CR S2313)
- Mar 29, 2012Motion to proceed to measure considered in Senate. (consideration: CR S2188, S2223-2224)
- Mar 29, 2012Cloture motion on the motion to proceed to measure presented in Senate. (consideration: CR S2223-2224; text: CR S2223)
- Mar 28, 2012Motion to proceed to measure considered in Senate. (consideration: CR S2117)
In the Congressional Record 9
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S5287 | Sheldon Whitehouse D-RI | Jul 24, 2012 |
| House · Senate | Debate and remarks H2015–H2017, S2521 | Henry C. "Hank" Johnson, Jr. D-GA, Keith Ellison D-MN, Lynn C. Woolsey D-CA, Roy Blunt R-MO | Apr 19, 2012 |
| House · Senate | Debate and remarks H1853, H1854, H1857, S2345 | Harry Reid D-NV, Joe Wilson R-SC, Sheila Jackson Lee D-TX, Shelley Berkley D-NV | Apr 17, 2012 |
| Senate | Debate and remarks S2287–S2305, S2308–S2311, S2313, S2314Cloture motions S2313Recorded votes S2313cloture motion on motion to proceed | Al Franken D-MN (cloture motion), Barbara A. Mikulski D-MD, Barbara Boxer D-CA (cloture motion), Bernard Sanders I-VT (cloture motion), Bob Corker R-TN, Carl Levin D-MI (cloture motion), Charles E. Schumer D-NY (cloture motion), Daniel K. Akaka D-HI (cloture motion), Daniel K. Inouye D-HI, Debbie Stabenow D-MI (cloture motion), Harry Reid D-NV (cloture motion), Jack Reed D-RI (cloture motion), Jeff Bingaman D-NM (cloture motion), Joe Manchin III D-WV, John Barrasso R-WY, John D. Rockefeller IV D-WV (cloture motion), John Thune R-SD, Jon Kyl R-AZ, Joseph I. Lieberman I-CT, Mark Begich D-AK (cloture motion), Michael B. Enzi R-WY, Mitch McConnell R-KY, Patrick J. Leahy D-VT (cloture motion), Patrick J. Toomey R-PA, Patty Murray D-WA (cloture motion), Richard Blumenthal D-CT (cloture motion), Richard J. Durbin D-IL (cloture motion), Rob Portman R-OH, Sheldon Whitehouse D-RI (cloture motion), Sherrod Brown D-OH (cloture motion), Susan M. Collins R-ME | Apr 16, 2012 |
| Senate | Debate and remarks S2223Cloture motions S2223 | Al Franken D-MN (cloture motion), Barbara Boxer D-CA (cloture motion), Bernard Sanders I-VT (cloture motion), Carl Levin D-MI (cloture motion), Charles E. Schumer D-NY (cloture motion), Daniel K. Akaka D-HI (cloture motion), Debbie Stabenow D-MI (cloture motion), Harry Reid D-NV (cloture motion), Jack Reed D-RI (cloture motion), Jeff Bingaman D-NM (cloture motion), John D. Rockefeller IV D-WV (cloture motion), Mark Begich D-AK (cloture motion), Patrick J. Leahy D-VT (cloture motion), Patty Murray D-WA (cloture motion), Richard Blumenthal D-CT (cloture motion), Richard J. Durbin D-IL (cloture motion), Sheldon Whitehouse D-RI (cloture motion), Sherrod Brown D-OH (cloture motion) | Mar 29, 2012 |
Related bills 5
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2059 | Paying a Fair Share Act of 2012 | Identical bill | Feb 1, 2012 |
| S 2252 | Rebuild America Act | Related bill | Mar 29, 2012 |
| HR 3903 | Paying a Fair Share Act of 2012 | Identical bill | Feb 7, 2012 |
| HR 5333 | Middle Class Tax Fairness Act of 2012 | Related bill | May 7, 2012 |
| HR 5727 | Rebuild America Act | Related bill | Jun 4, 2012 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to reduce the deficit by imposing a minimum effective tax rate for high-income taxpayers.
- Short Titles as Introduced
- Paying a Fair Share Act of 2012
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Mar 26, 2012Placed on Calendar Senate
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.
