S. 749 · 112th Congress
Fair Elections Revenue Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
12 cosponsors · 11 D, 1 I
12 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Fair Elections Revenue Act of 2011 - Amends the Internal Revenue Code to impose an excise tax on payments made pursuant to a U.S. government contract to any person that is not a state or local government, a foreign nation, or a tax-exempt organization and that has contracts with the U.S. government in excess of $10 million.
What it does: CRS summary · Introduced in Senate · Apr 6, 2011
Fair Elections Revenue Act of 2011 - Amends the Internal Revenue Code to impose an excise tax on payments made pursuant to a U.S. government contract to any person that is not a state or local government, a foreign nation, or a tax-exempt organization and that has contracts with the U.S. government in excess of $10 million. Sets the rate of such tax imposed on any payment to a qualified person under any such contract at 0.50% of the amount paid and limits the aggregate annual amount of tax so imposed for any calendar year to not more than $500,000.
Expresses the sense of the Senate that the tax revenues raised by this Act should be used for the financing of a Fair Elections Fund and the public financing of Senate elections.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Fair Elections Revenue Act of 2011
Latest action (Apr 12, 2011): Committee on the Judiciary Subcommittee on the Constitution, Civil Rights and Human Rights. Hearings held.
Policy area: Taxation · Origin: Senate · Introduced: Apr 6, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.