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National Priorities Act of 2007

Introduced: March 8, 2007 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 8, 2007
Read twice and referred to the Committee on Finance.
Mar 8, 2007
Sponsor introductory remarks on measure. (CR S2910-2913)
Mar 8, 2007
Introduced in Senate
 Plain-English summary Congressional Research Service

National Priorities Act of 2007 - Rescinds after 2008 income tax reductions enacted under the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003 for taxpayers with gross incomes in 2008 of over $400,000.

Reduces funding for the Department of Defense by $60 billion in FY2008. Authorizes the Secretary of Defense to make reductions by eliminating waste, fraud, and abuse, and weapon systems and other programs determined to be no longer a national security priority. Exempts from such reductions the needs of military personnel, including pay increases and health care.

Dedicates increases in revenues resulting from this Act to: (1) various programs for health care, education, energy conservation, and affordable housing; (2) increasing the earned income credit; and (3) reducing the federal deficit.

What's happening now March 8, 2007

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1