Key Votes
S 2230 - Establishes a Minimum 30 Percent Tax Rate for High-Income Taxpayers - Key Vote
National Key Votes
Orrin Hatch Did Not Vote on this legislation.
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Stage Details
Legislation - Cloture Not Invoked (Senate) (51-45) - April 16, 2012 (Key vote)
Title: Establishes a Minimum 30 Percent Tax Rate for High-Income Taxpayers
Vote on a motion to invoke cloture on a bill that establishes a minimum tax rate of 30 percent for taxpayers earning more than $1 million, effective for the 2012 tax year.
- Establishes a minimum tax rate of 30 percent of adjusted gross income, minus the deduction for charitable contributions, for all high-income taxpayers, effective for taxable years beginning after December 31, 2011 (Sec. 2).
- Defines “high-income taxpayer” as any taxpayer, other than a corporation, who has an adjusted gross income for that taxable year in excess of $1 million, or $500,000 for a married individual filing separately (Sec. 2).
- Requires the $1 million threshold used to identify high-income taxpayers to be adjusted annually for inflation for taxable years beginning after 2013 (Sec. 2).
- Specifies that if a high-income taxpayer chooses not to itemize his or her deductions, no amount for charitable contributions shall be subtracted from the taxpayer's adjusted gross income (Sec. 2).
NOTE: THIS IS A VOTE TO INVOKE CLOTURE ON A MOTION TO PROCEED, WHICH SENDS THE LEGISLATION TO THE FLOOR OF THE SENATE FOR DEBATE AND AMENDMENT. A MOTION TO PROCEED ALONE REQUIRES A MAJORITY FOR APPROVAL. HOWEVER, THE MOTION CAN BE FILIBUSTERED, AND WHEN THIS OCCURS, A CLOTURE VOTE IS NECESSARY TO VOTE ON THE MOTION TO PROCEED. A THREE-FIFTHS MAJORITY OF THE SENATE IS NECESSARY TO INVOKE CLOTURE.
Legislation - Introduced (Senate) - March 22, 2012
Title: Establishes a Minimum 30 Percent Tax Rate for High-Income Taxpayers
Sponsors
Co-sponsors
- Daniel Kahikina Akaka Sr. (HI - D) (Out Of Office)
- Mark Begich (AK - D)
- Richard Blumenthal (CT - D)
- Barbara Boxer (CA - D)
- Richard J. 'Dick' Durbin (IL - D)
- Al Franken (MN - D)
- Thomas 'Tom' Harkin (IA - D)
- Frank R. Lautenberg (NJ - D) (Out Of Office)
- Patrick J. Leahy (VT - D)
- Carl Levin (MI - D)
- Claire McCaskill (MO - D)
- Jeffery A. 'Jeff' Merkley (OR - D)
- John Francis 'Jack' Reed (RI - D)
- John D. 'Jay' Rockefeller IV (WV - D)
- Bernard 'Bernie' Sanders (VT - I)
- Charles E. 'Chuck' Schumer (NY - D)
