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S Amdt 1465 - Temporary Payroll Tax Cut Extension - National Key Vote

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Title: Temporary Payroll Tax Cut Extension

Vote Smart's Synopsis:

Vote to adopt an amendment to HR 3630 that extends the temporary payroll tax holiday until February 29, 2012, extends the emergency unemployment compensation program until March 6, 2012, and requires the president to issue a permit for the construction of the Keystone XL pipeline project.

Highlights:

  • Extends the temporary employee payroll tax rate of 4.2 percent through February 29, 2012 (Sec. 101).
  • Exempts self-employment income in excess of $18,350 that was earned during 2012 from the payroll tax (Sec. 101).
  • Extends the termination date of the emergency unemployment compensation program from January 3, 2012, to March 6, 2012 (Sec. 201).
  • Extends the Temporary Assistance for Needy Families (TANF) program through February 29, 2012 (Sec. 312).
  • Requires the president to grant a permit for the construction of the Keystone XL pipeline project within 60 days of the enactment of the bill, unless the president determines that the pipeline project would not “serve the national interest” (Sec. 501).
  • Requires the Keystone XL pipeline permit, if granted by the president, to require reconsideration of routing he pipeline through Nebraska (Sec. 501).

NOTE: THIS LEGISLATION NEEDED A THREE-FIFTHS MAJORITY VOTE TO PASS.

Full Bill Text

NOTE: THIS IS A SUBSTITUTE AMENDMENT, WHICH REPLACES THE ENTIRE TEXT OF THE LEGISLATION WITH A NEW TEXT. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

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