S 3412 - Middle Class Tax Cut Act - National Key Vote
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Jay Rockefeller IV voted Yea (Passage) on this Legislation.
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Read statements Jay Rockefeller IV made in this general time period.
Timeline
- Senate Bill Passed
- July 25, 2012
- Introduced
- July 19, 2012
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Title: Middle Class Tax Cut Act
Vote Smart's Synopsis:
Vote to pass a bill that extends tax cuts established in 2001, 2003, and 2010 until the end of 2013, and increases income taxes for certain high-income individuals, effective for taxable years beginning after December 31, 2012.
Highlights:
- Increases the income tax rate for taxpayers earning more than $250,000 per year from 35 percent to 39.6 percent (Sec. 101).
- Extends the tax cuts established by the Economic Growth and Tax Relief Reconciliation Act of 2001 from December 31, 2012 to December 31, 2013 (Sec. 101).
- Extends the tax cuts established by the Jobs and Growth Tax Relief Reconciliation Act of 2003 from December 31, 2012 to December 31, 2013 (Sec. 102).
- Extends the American Opportunity Tax Credit, the Child Tax Credit, and the Earned Income Tax Credit through 2013 (Sec. 103).
- Increases the alternative minimum tax exemption amount as follows (Sec. 201):
- From $74,450 to $78,750 for married taxpayers filing jointly and surviving spouses; and
- From $48,450 to $50,600 for single taxpayers and taxpayers who are married but filing separately.
Title: Middle Class Tax Cut Act