/  H.R. 8—Job Protection and Recession Prevention Act of 2012

H.R. 8 - Job Protection and Recession Prevention Act of 2012

Bill Text

  • Text of H.R. 8 PDF XML

    Job Protection and Recession Prevention Act of 2012

Rule Information

COMMITTEE ACTION:
REPORTED BY RECORD VOTE of 8-3 on Tuesday, July 31, 2012.

FLOOR ACTION ON H. RES. 747: 
Adopted by record vote of 240-184, after agreeing to the previous question by record vote of 240-183 and agreeing to the Scott of South Carolina Amendment by record vote of 238-186, on Wednesday, August 1, 2012.  

MANAGERS: Scott/Slaughter

1. Structured rule for H.R. 6169.

2. Provides one hour of debate on the bill equally divided and controlled by the chair and ranking minority member of the Committee on Rules and two hours of debate on the subject of reforming the Internal Revenue Code of 1986 equally divided and controlled by the chair and ranking minority member of the Committee on Ways and Means.

3. Waives all points of order against consideration of the bill and provides that it shall be considered as read.

4. Waives all points of order against provisions in the bill.

5. Makes in order the amendment in the nature of a substitute to H.R. 6169 printed in Part A of the Rules Committee report if offered by Representative Slaughter of new York or her designee. The amendment shall be considered as read, shall be debatable for 20 minutes equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

6. Waives all points of order against the amendment printed in part A of the report.

7. Provides one motion to recommit with or without instructions.

8. Structured rule for H.R. 8.

9. Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Ways and Means.

10. Waives all points of order against consideration of the bill and provides that it shall be considered as read.

11. Waives all points of order against provisions in the bill..

12. Makes in order the amendment in the nature of a substitute to H.R. 8 printed in Part B of the Rules Committee report if offered by Representative Levin of Michigan or his designee. The amendment shall be considered as read, shall be debatable for 20 minutes equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

13. Waives all points of order against the amendment printed in Part B of the report.

14. Provides one motion to recommit with or without instructions.

15. Section 3 provides that on any legislative day during the period from August 3, 2012, through September 7, 2012: (a) the Journal of the proceedings of the previous day shall be considered as approved; (b) the Chair may adjourn the House to meet at a date and time within the limits of clause 4, section 5, article I of the Constitution; and (c) bills and resolutions introduced shall be numbered, listed in the Congressional Record, and when printed shall bear the date of introduction, but may be referred at a later time.

16. Section 4 authorizes the SPeaker to appoint Members to perform the duties of the Chair for the duration of the period addressed by section 3.

17. Section 5 provides that each day during the period addressed by section 3 shall not constitute a calendar day for purposes of section 7 of the War Powers Resolution (50 U.S.C. 1546).

18. Section 6 provides that each day during the period addressed by section 3 shall not constitute a legislative day for purposes of clause 7 of rule XIII (resolutions of inquiry).

19. Section 7 provides that for each day during the period addressed by section 3 shall not constitute a calendar or legislative day for purposes of clause 7(c)(1) of rule XXII (motions to instruct conferees).

20. Section 8 authorizes the Speaker to entertain motions to suspend the rules on the legislative day of August 2, 2012.

21. Section 9 waives the requirement of clause 6(a) of rule xIII (requiring a two-thirds vote to consider a report from the Committee on Rules on the same day it is presented to the House) with respect to any resolution reported through the legislative day of August 2, 2012.

Amendments

# Version # Sponsor(s) Party Summary Status
3 Version 1 Blumenauer (OR) Democrat Would restore estate tax relief in 2013, providing taxable estates an exemption rate of $3.5 million, a maximum tax rate of 45%, and provide unification of the estate and gift taxes and portability of estate tax relief. Submitted
5 Version 1 Jackson Lee (TX) Democrat AMENDMENT 1: Above the Line Deduction for Teacher’s Classroom Expenses The first extends the “Above-the-line deduction of up to $250 for teacher classroom expenses” until December 31, 2013. Section 62 (a)(2)(D) The offset will be an amendment which closes a loophole that allows corporations to take a deduction for the fair market value of an exercised corporate stock option, over-and-above the value of the deduction that they receive when the option is issued. It does two significant things: raises money and shuts down an egregious loophole. Submitted
6 Version 1 Jackson Lee (TX) Democrat 35 percent and moves the exclusion level for estates up to $3.5 million. For estates from $3.5 million to $9,999,999, the rate shall be 45 percent. For estates above $10 million the rate of taxation shall be 55 percent. The effective date shall be January 1, 2013. The expiration is December 31, 2013. Submitted
1 Version 1 Levin, Sander (MI) Democrat SUBSTITUTE Would extend for one year certain expired or expiring tax provisions that apply to middle-income taxpayers with income below $250,000 for married couples filing jointly, and below $200,000 for single filers, including, but not limited to, marginal rate reductions, capital gains and dividend rate preferences, alternative minimum tax relief, marriage penalty relief, and expanded tax relief for working families with children and college students. Made In Order
2 Version 1 Posey (FL) Republican Would prevent the Treasury Department from implementing their rule on January 1, 2013, requiring financial institutions to report information on non-resident alien deposits. Submitted
4 Version 1 Thompson, Mike (CA) Democrat Would allow farmers and ranchers to defer payment of the estate tax as long as the land is owned within the family and remains in agricultural production. Would also defer the tax for land placed into a conservation easement. Submitted