Stop the Sequester Job Loss Now Act Through 2014
Latest action · May 20, 2013 Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Agriculture, 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.
- IntroducedMay 20, 2013
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Stop the Sequester Job Loss Now Act Through 2014 - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to repeal the FY2013-FY2014 sequesters.
Makes the budgetary resources for FY2013, which were sequestered by the presidential sequestration order, available for obligation for the same purpose, in the same amount as otherwise would have been available on the date of enactment of this Act and before October 1, 2013, and in the same manner as if such order had not been issued.
Reduces the defense discretionary spending limits for the security category for FY2017-FY2021.
Eliminates the 2% maximum permissible reduction in budget authority for veterans' medical care.
Extends through FY2014 agricultural commodity programs generally under the Food, Conservation, and Energy Act of 2008, but not the direct payment programs for wheat, corn, grain sorghum, barley, oats, upland cotton, long and medium grain rice, soybeans, other oilseeds, and peanuts.
Amends the Internal Revenue Code to: (1) prohibit the use of the last-in, first out (LIFO) accounting method by major integrated oil companies, (2) deny such oil companies a tax deduction for income attributable to the domestic production of oil and gas, and (3) deny them also the tax deduction for intangible drilling and development costs.
Requires an individual high-income taxpayer whose adjusted gross income exceeds $1 million (adjusted annually for inflation) to pay a minimum (fair share) 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.
Declares that it is the sense of the House that Congress should replace the entire 10-year sequester established by the Budget Control Act of 2011 with a balanced approach that would: (1) increase revenues without increasing the tax burden on middle-income Americans; and (2) decrease long-term spending while maintaining the Medicare guarantee, protecting Social Security and a strong social safety net, and making strategic investments in education, science, research, and critical infrastructure necessary to compete in the global economy.
Cosponsors 4
Members who signed on, in the order they did. Signatures ran from May 22, 2013 to Jun 19, 2013.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-FL | Frederica S. Wilson | May 22, 2013 | |
| D-NH | Carol Shea-Porter | Jun 3, 2013 | |
| D-CA | Eric Swalwell | Jun 3, 2013 | |
| D-RI | David N. Cicilline | Jun 19, 2013 |
Actions 2
Everything that happened, newest first.
- May 20, 2013Introduced in House
- May 20, 2013Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Agriculture, 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 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 321 | Paying a Fair Share Act of 2013 | Related bill | Feb 13, 2013 |
| HR 699 | Stop the Sequester Job Loss Now Act | Related bill | Mar 1, 2013 |
| HR 766 | Paying a Fair Share Act of 2013 | Related bill | Feb 15, 2013 |
| HR 1426 | Big Oil Welfare Repeal Act of 2013 | Related bill | Apr 9, 2013 |
Subjects
Assigned by the Library of Congress. Policy area: Economics and Public Finance.
- Accounting and auditing
- Agricultural prices, subsidies, credit
- Appropriations
- Budget deficits and national debt
- Budget process
- Corporate finance and management
- Defense spending
- Economics and Public Finance
- Education programs funding
- Executive agency funding and structure
- Income tax deductions
- Income tax rates
- Infrastructure development
- Medicare
- Oil and gas
- Research administration and funding
- Social security and elderly assistance
- Veterans' education, employment, rehabilitation
- Veterans' loans, housing, homeless programs
- Veterans' medical care
- Veterans' pensions and compensation
Text 1
Each version as it was printed, newest first.
- May 20, 2013Introduced 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.