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HR 2411 112th Congress House Taxation Budget deficits and national debt Employment taxes

Reduce America's Debt Now Act of 2011

Introduced: July 6, 2011 Introduced by: Crawford, Eric A. "Rick" Republican · Arkansas See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 6, 2011
Referred to the House Committee on Ways and Means.
Jul 6, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Reduce America's Debt Now Act of 2011 - Authorizes an employee to elect for an employer to deduct and withhold upon the payment of his or her wages amounts to be used to reduce the public debt.

Disallows an itemized deduction under the Internal Revenue Code for such withholding.

Requires the Secretary of the Treasury to: (1) modify withholding exemption certificates (Form W-4) to include such an election, and (2) include on the certificate a reasonably conspicuous statement that any amounts deducted and withheld from such wages are not deductible as charitable contributions for federal income tax purposes.

Amends the Code to redefine "wages" to exclude any amount deducted and withheld pursuant to an election under this Act for purposes of employment taxes and collection of income taxes.

What's happening now July 6, 2011

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2