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Key Votes

HR 8 - Job Protection and Recession Prevention Act of 2012 - Key Vote

National Key Votes

Wally Herger, Jr. voted Yea (Concurrence Vote) on this Legislation.

Read statements Wally Herger, Jr. made in this general time period.

Stages

Family

Issues

Stage Details

Legislation - Signed (Executive) - Became Public Law No. 112-240 -

Title: Job Protection and Recession Prevention Act of 2012

Signed by President Barack Obama II
Public Law No. 112-240

Legislation - Concurrence Vote Passed (House) (257-167) - (Key vote)

Title: Job Protection and Recession Prevention Act of 2012

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that permanently extends tax cuts established in 2001 and 2003 and increases the income tax rate for certain individuals.

Highlights:
  • Specifies that the income tax rate will be 39.6 percent for the following incomes for tax years beginning in the 2013 tax year (Sec. 101):
    • An income of $450,000 for married individuals filing jointly;
    • An income of $425,000 for individuals filing as head of household; and
    • An income of $400,000 for single individuals.
  • Increases the capital gains tax rate from 15 to 20 percent for the following capital gains incomes beginning January 1, 2013 (Sec. 102):
    • An income of $450,000 for married individuals filing jointly;
    • An income of $425,000 for individuals filing as head of household; and
    • An income of $400,000 for single individuals.
  • Increases the maximum estate tax from 35 to 40 percent for tax years beginning January 1, 2013 (Sec. 101).
  • Increases the income amount for determining the alternative minimum taxable incomes to the following amounts permanently (Sec. 104):
    • From incomes of $45,000 to $78,750 in the case of married individuals filing jointly or a surviving spouse; and
    • From incomes of $33,750 to $50,600 in the case of a single individual who is not a surviving spouse.
  • Extends the following acts on a permanent basis (Secs. 101-102):
    • The Economic Growth and Tax Relief Reconciliation Act of 2001; and
    • The Jobs and Growth Tax Relief Reconciliation Act of 2003.
  • Extends the following tax credits from 2012 to 2018 (Sec. 103):
    • The American Opportunity Tax Credit;
    • The Child Tax Credit; and
    • The Earned Income Tax Credit
  • Extends the Indian Employment Tax Credit from December 31, 2011 until December 31, 2013 (Sec. 304). 
See The Voting Record

Legislation - Bill Passed With Amendment (Senate) (89-8) - (Key vote)

Title: Job Protection and Recession Prevention Act of 2012

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to pass a bill that permanently extends tax cuts established in 2001 and 2003 and increases the income tax rate for certain individuals.

Highlights:
  • Specifies that the income tax rate will be 39.6 percent for the following incomes for tax years beginning in the 2013 tax year (Sec. 101):
    • An income of $450,000 for married individuals filing jointly;
    • An income of $425,000 for individuals filing as head of household; and
    • An income of $400,000 for single individuals.
  • Increases the capital gains tax rate from 15 to 20 percent for the following capital gains incomes beginning January 1, 2013 (Sec. 102):
    • An income of $450,000 for married individuals filing jointly;
    • An income of $425,000 for individuals filing as head of household; and
    • An income of $400,000 for single individuals.
  • Increases the maximum estate tax from 35 to 40 percent for tax years beginning January 1, 2013 (Sec. 101).
  • Increases the income amount for determining the alternative minimum taxable incomes to the following amounts permanently (Sec. 104):
    • From incomes of $45,000 to $78,750 in the case of married individuals filing jointly or a surviving spouse; and
    • From incomes of $33,750 to $50,600 in the case of a single individual who is not a surviving spouse.
  • Extends the following acts on a permanent basis (Secs. 101-102):
    • The Economic Growth and Tax Relief Reconciliation Act of 2001; and
    • The Jobs and Growth Tax Relief Reconciliation Act of 2003.
  • Extends the following tax credits from 2012 to 2018 (Sec. 103):
    • The American Opportunity Tax Credit;
    • The Child Tax Credit; and
    • The Earned Income Tax Credit
  • Extends the Indian Employment Tax Credit from December 31, 2011 until December 31, 2013 (Sec. 304). 
See The Voting Record

Legislation - Bill Passed (House) (256-171) - (Key vote)

Title: Job Protection and Recession Prevention Act of 2012

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to pass a bill that extends tax cuts established in 2001 and 2003 until the end of 2013.

Highlights:
  • Extends the Economic Growth and Tax Relief Reconciliation Act of 2001 from December 31, 2012 to December 31, 2013 (Sec. 102).
  • Extends the Jobs and Growth Tax Relief Reconciliation Act of 2003 from December 31, 2012 to December 31, 2013 (Sec. 102).
  • Requires Congress to introduce a bill to provide for “comprehensive tax reform” no later than April 30, 2013, and requires this bill to be expedited through the House of Representatives and the Senate (Sec. 203).
  • Requires the tax reform bill to contain certain policy elements including, but not limited to, the following (Sec. 203):
    • Consolidation of the 6 individual income tax brackets into no more than 2 brackets and at a rate of no more than 25 percent for each bracket;
    • Reduction of the corporate tax rate to no more than 25 percent;
    • Repeal of the Alternative Minimum Tax;
    • Proposals that expand the tax base to maintain revenue between 18 and 19 percent of the economy; and
    • Conversion of the tax system from a “worldwide” system to a “territorial” system.
See The Voting Record

Legislation - Introduced (House) -

Title: Job Protection and Recession Prevention Act of 2012


Sponsors

  • David Lee 'Dave' Camp (MI - R) (Out Of Office)

Co-sponsors

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