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HR 6535 112th Congress House Taxation Appropriations Budget process Capital gains tax Conflicts and wars Defense spending Income tax rates Military operations and strategy

Save America's National Economy Act

Introduced: September 21, 2012 Introduced by: Nadler, Jerrold Democratic · New York 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
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.
Sep 21, 2012
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now September 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.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1