S. 3401: Tax Relief Act of 2012
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S. 3401: Tax Relief Act of 2012
112th Congress · introduced 2012-07-18 · Taxation · Latest: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 460.
federal
Follow this bill, step by step
- Where it came from: introduced 2012-07-18 · official record
- Who proposed it: Sen. Hatch, Orrin G. [R-UT] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 460. 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.
Official title
Tax Relief Act of 2012
Plain summary
Tax Relief Act of 2012 - Extends through 2013: (1) the Economic Growth and Tax Relief Reconciliation Act of 2001, and (2) the reduction in the tax rates for dividend and capital gain income enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Amends the Internal Revenue Code to extend for an additional two years: (1) the increased exemption amount for the alternative minimum tax (AMT); (2) the offset against the AMT for certain nonrefundable personal tax credits; and (3) the increased expensing allowance for depreciable business assets, including computer software. Directs the Senate Committee on Finance to report tax reform legislation not later than 12 months after the enactment of this Act.
Congressional Research Service summary (Introduced in Senate), 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
Tax Relief Act of 2012
Source: Congressional Research Service summary (Introduced in Senate)
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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: Sen. Hatch, Orrin G. [R-UT] · 1 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Mitch McConnell (R-KY)
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 (2)
- 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.
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s3401.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>
Record fed-us-cong112-s3401 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112