Bills
Ways and Means Committee Ranking Member Sander Levin (D-Mich.) joined a bipartisan group of members from the House to introduce legislation to crack down on currency manipulation by China and other nations. The House legislation already has 101 Democratic and Republican co-sponsors.
On January 1, 2013 Ways and Means Ranking Member Sander Levin (D-MI), Chairman Dave Camp (R-MI), Trade Subcommittee Ranking Member Jim McDermott (D-WA), and Trade Subcommittee Chairman Kevin Brady (R-TX) introduced the “U.S.
Summary of the Investing in American Innovation Act of 2012:
Extending the R&D Tax Credit
Tax Credits for “Insourcing” Jobs
The bill creates a new tax credit to provide an incentive for U.S. companies to move jobs from overseas back to America. Specifically, the initiative will allow companies to qualify for a tax credit equal to 20% of the cost associated with bringing jobs and business activity back to the United States.
H.R. 6061: The WIPA and PABSS Continuation of Services Act of 2012, would extend two expiring programs that support return-to-work efforts by Social Security and SSI disability beneficiaries.
“The ‘carried interest’ loophole that allowed Romney to pay a 15% tax on his income when he was amassing his fortune at Bain Capital should be one of the first tax dodges to go. Ending it would restore some sense of fairness.