S 3521 · 112th Congress · Taxation

Family and Business Tax Cut Certainty Act of 2012

Introduced 2012-08-28· Sponsored by Sen. Baucus, Max [D-MT]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Motion to proceed to consideration of measure withdrawn in Senate. (consideration: CR S6405)(2012-09-19)

Plain Language Summary

[AI summary unavailable — showing source text] Family and Business Tax Cut Certainty Act of 2012 - Amends the Internal Revenue Code to extend through 2013 expiring tax expenditures for individuals, businesses, and the energy sector. Expresses the sense of the Senate that: (1) comprehensive tax reform is vital to U.S. economic growth and competitiveness and should begin in 2013; (2) a major focus of comprehensive tax reform should be broadening the tax base so as to lower tax rates, including by reforming, eliminating, or significantly reducing tax expenditures; and (3) whenever possible, federal energy tax expenditures should be responsibly phased-out so that energy technologies can function without reliance on federal subsidies. Provides for compliance of the budgetary effects of this Act with the Statutory Pay-As-You-Go Act of 2010.…

Summarized by Claude AI · Non-partisan · For informational purposes only