Teachers and First Responders Back to Work Act of 2011

Teachers and First Responders Back to Work Act of 2011 - Directs the Secretary of Education to allocate grants to states and, through them, subgrants to local educational agencies (LEAs) for the costs of retaining, recalling, rehiring, or hiring employees to provide early childhood, elementary, or secondary education and related services.

Allows states to reserve up to 10% of their grant for awards, for the same purposes, to state-funded early learning programs.

Requires LEAs and state-funded early learning programs to obligate such funds by the close of FY2013.

Prohibits the use of such grants to supplant state funding for education.

Directs the Attorney General to carry out a competitive grant program pursuant to the Omnibus Crime Control and Safe Streets Act of 1968 for the hiring, rehiring, or retention of career law enforcement officers.

Makes appropriations to the Community Oriented Policing Stabilization Fund to carry out such program and for transfer to a First Responder Stabilization Fund from which the Secretary of Homeland Security (DHS) shall make competitive grants for hiring additional firefighters pursuant to the Federal Fire Prevention Control Act of 1974.

Amends the Internal Revenue Code to impose on individual taxpayers in taxable years beginning after 2012 an additional tax equal to 0.5% of so much of their modified adjusted gross income as exceeds $1 million. Defines "modified adjusted gross income" as adjusted gross income reduced by any deduction allowed for investment interest. Provides for an inflation adjustment to the $1 million threshold amount for taxable years beginning after 2013.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov