S. 14 · 110th Congress
Invest in America Act
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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KylSponsor25 cosponsors · 25 R
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Allard
LA
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Alexander
SB
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Brownback
JB
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Bunning
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Burr
SC
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Chambliss
TC
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Coburn
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Craig
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Crapo
JD
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DeMint
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Ensign
ME
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Enzi
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Graham
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Grassley
OH
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Hatch
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Inhofe
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Lott
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McConnell
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Martinez
PR
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Roberts
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Smith
CT
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Thomas
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Vitter
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Isakson
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Specter22 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Invest in America Act - Repeals the general termination date (i.e., December 31, 2010) of the Economic Growth and Tax Relief Reconciliation Act of 2001 (thus making provisions of that Act that reduce income tax rates and repeal the estate and gift tax permanent).
What it does: CRS summary · Introduced in Senate · Apr 17, 2007
Invest in America Act - Repeals the general termination date (i.e., December 31, 2010) of the Economic Growth and Tax Relief Reconciliation Act of 2001 (thus making provisions of that Act that reduce income tax rates and repeal the estate and gift tax permanent).
Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 applicable to the reduction in taxes on dividends and capital gains.
Amends the Internal Revenue Code to make permanent: (1) the tax credit for increasing research activities; (2) the increased expensing allowance for small business assets; and (3) the tax deduction for certain expenses of elementary and secondary school teachers. Repeals the alternative minimum tax on individuals after 2006.
Expresses the sense of the Senate that the Committee on Finance should report legislation before December 31, 2007, to simplify the federal income tax system, without raising tax rates.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Invest in America Act
Latest action (Apr 17, 2007): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Apr 17, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.