H.R. 6535: Save America's National Economy Act

112th Congress · introduced 2012-09-21 · Taxation · Latest: Referred to the Committee on the Budget, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

federal

Follow this bill, step by step

Where it came from: introduced 2012-09-21 · official record
Who proposed it: Rep. Nadler, Jerrold [D-NY-8] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Committee on the Budget, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Save America's National Economy Act

Plain summary

Save America's National Economy Act - Repeals provisions of the Balanced Budget and Emergency Deficit Control Act of 1985, as added by the Budget Control Act of 2011, that require automatic reductions in discretionary spending (sequestration) between FY2013 and FY2021. Amends the Internal Revenue Code to: (1) increase individual income tax rates for taxpayers whose taxable income exceeds $1 million, and (2) provide for an adjustment in the capital gains tax of taxpayers whose taxable income is subject to the 45% tax bracket. Establishes caps on funding levels for overseas contingency operations and related activities for FY2013-FY2021.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Save America's National Economy Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Nadler, Jerrold [D-NY-8] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Janice D. Schakowsky (D-IL)

Sponsor's campaign money: Rep. Nadler, Jerrold [D-NY-8] reported raising $258,402 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Capital gains: The profit from selling something you own, such as stock or real estate, for more than you paid. A capital gains tax is a tax on that profit.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr6535.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr6535 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112