Summary: (This measure has not been amended since it was passed by the Senate on March 25, 2010. The summary of that version is repeated here.) Health Care and Education Reconciliation Act of 2010 - Title I: Coverage, Medicare, Medicaid, and Revenues - Subtitle A: Coverage - (Sec. 1001) Amends Internal Revenue Code provisions added by the Patient Protection and Affordable Care Act (PPACA) to revise the formula for calculating the refundable tax credit for premium assistance for coverage under a qualified health plan by establishing a sliding scale from the initial to the final premium percentage for individuals and families with household incomes up to 400% of the federal poverty line. Requires adjustments, after 2014 and after 2018, of the initial and final premium percentages to reflect the excess (if any) of the rate of premium growth over the rate of growth of income and the consumer price index. Reduces from 9.8% to 9.5% of a taxpayer's household income the maximum amount an employee's required contribution to an employer-sponsored plan may be for such employee to be treated as eligible for employer-sponsored minimum essential coverage. Increases the percentage of employer cost sharing for the out-of-pocket expenses of individuals with household incomes between 100% and 400% of the federal poverty line. (Sec. 1002) Revises the provisions setting forth penalties to be imposed on individuals who decline to purchase health care coverage by: (1) lowering the maximum penalty amount from $495 to $325 in 2015 and from $750 to $695 in 2016; and (2) increasing the penalty rates based on taxpayer household income for taxable years beginning in 2014 and 2015 and for taxable years beginning after 2015. (Sec. 1003) Revises the provisions setting forth penalties to be imposed on employers with 50 or more employees who decline to offer employees health care coverage to allow an exemption for the first 30 employees (including part-time employees) when calculating the penalty. Increases the applicable penalty amount per employee to $2,000. Eliminates the assessment on large employers with extended waiting periods for enrollment in employer-sponsored plans. (Sec. 1004) Modifies the definition of "modified adjusted gross income" for purposes of the tax credit for premium assistance and the individual responsibility requirement for purchasing health care coverage. Extends the exclusion from gross income for employer-provided health care coverage to adult children up to age 26. Requires Exchanges that offer health care plans to provide the Secretary of the Treasury and taxpayers with specified information, including information about the level of coverage, the total premium for coverage, and the aggregate amount of any advance payment of the premium assistance tax credit. Amends title XIX (Medicaid) of the Social Security Act to allow a disregard of 5% of modified adjusted gross income for purposes of determining eligibility for medical assistance. (Sec. 1005) Establishes a Health Insurance Reform Implementation Fund within the Department of Health and Human Services (HHS) and makes appropriations to the Fund for the administrative costs of carrying out PPACA and this Act. Subtitle B: Medicare - (Sec. 1101) Amends part D (Voluntary Prescription Drug Benefit Program) of title XVIII (Medicare) of the Social Security Act (SSA) to direct the Secretary of HHS to provide a one-time $250 rebate in 2010 to all Medicare part D enrollees who enter the Medicare part D coverage gap (also known as the Medicare donut hole, the difference between the standard initial coverage limit and the catastrophic or out-of-pocket coverage threshold for which the Medicare beneficiary is financially responsible). Amends PPACA to: (1) delay until January 1, 2011, the deadline for establishment of a Medicare coverage gap discount program, as well as the effective date of the requirement that a part D drug manufacturer participate in it; and (2) repeal the increase by $500 in the 2010 standard initial coverage limit (thus restoring the provisions in effect before enactment of PPACA). Amends SSA title XVIII, as amended by PPACA, to reduce the coinsurance percentage for covered brand-name and generic drugs to 25% by 2020 (thus closing the donut hole with 75% discounts). Revises the growth rate of the out-of-pocket cost threshold. (Sec. 1102) Amends PPACA to repeal: (1) certain provisions concerning Medicare Advantage (MA) payments, benchmarks, and capitation rates; and (2) a requirement that the Secretary analyze the differences in coding patterns between MA and the original Medicare fee-for-service programs, and incorporate the results into risk scores for 2014 and subsequent years. Amends SSA title XVIII to freeze MA payments in 2011. Reduces MA benchmarks relative to current levels, varying them from 95% of Medicare spending in high-cost areas to 115% of Medicare spending in low-cost areas. Creates an incentive system to increase payments to high-quality plans by at least 5%. Extends the authority of the Centers for Medicare & Medicaid Service to adjust MA risk scores for observed differences in coding patterns relative to fee-for-service. Repeals the Comparative Cost Adjustment Program under the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. (Sec. 1103) Requires MA plans whose medical loss ratios are not at least .85 to remit to the Secretary an amount equal to a specified percentage of plan revenue. Requires the Secretary to: (1) prohibit enrollment in such a plan of new enrollees for three consecutive contract years; and (2) terminate the Medicare+Choice contract if the plan fails to have a .85 medical loss ratio for five consecutive contract years. (Sec. 1104) Amends SSA title XVIII (Medicare), as amended by PPACA, with respect to specified reductions to Medicare disproportionate share hospital (DSH) payments for FY2015 and ensuing fiscal years, especially to subsection (d) hospitals, to reflect lower uncompensated care costs relative to increases in the number of insured. (Generally, a subsection [d] hospital is an acute care hospital, particularly one that receives payments under Medicare's inpatient prospective payment system [IPPS] when providing covered inpatient services to eligible beneficiaries.) Advances the beginning of such reductions from FY2015 to FY2014. Revises the reduction formula to lower the reduction scheduled to occur over ten years. (Sec. 1105) Revises the hospital market basket reduction applicable to payments to inpatient hospitals, long-term care hospitals, inpatient rehabilitation facilities, psychiatric hospitals, and outpatient hospitals. (Sec. 1106) Postpones from August 1, 2010, to December 31, 2010, the date by which physician-owned hospitals must have a provider agreement in order to participate in Medicare under a rural provider and hospital exception to the physician-ownership or -investment prohibition if they also meet certain requirements addressing conflicts of interest, bona fide investments, patient safety issues, and expansion limitations. Modifies the expansion limitation imposed on such a rural hospital under which the number of operating rooms, procedure rooms, and beds for which the hospital is licensed at any time on or after the enactment of PPACA is no greater than the number of such rooms and beds for which the hospital is licensed as of such date. Allows an exception to the expansion limitation for a high Medicaid hospital that treats the highest percentage of Medicaid patients in their county (and is not the sole hospital in the county). (Sec. 1107) Revises the special rule in the physician fee schedule for imaging services, in particular the PPACA adjustment in the practice expense relative value units with respect to advanced diagnostic imaging services to reflect a higher presumed utilization rate. Replaces the multiyear phase-in of the assumed utilization rate from 50% to 75% with a flat 75% rate for 2011 and subsequent years. (Sec. 1108) Modifies the employee wage and rent portions of the practice expense geographic index adjustment for 2010 and subsequent years. Requires such portions to reflect 1/2 (instead of 3/4) of the difference between the relative costs of employee wages and rents in each of the different fee schedule areas and the national average of such employee wages and rents. (Sec. 1109) Directs the Secretary to provide for a specified payment for FY2011 and FY2012 to qualifying subsection (d) hospitals located in a county that ranks, based upon age, sex, and race adjusted spending per enrollee for Medicare parts A and B benefits, within the lowest quartile of such counties in the United States. Subtitle C: Medicaid - (Sec. 1201) Amends SSA title XIX (Medicaid), as amended by PPACA, to repeal the permanent 100% federal matching rate (federal medical assistance percentage [FMAP]) for Nebraska for the Medicaid costs of newly eligible mandatory individuals (expansion populations). Provides federal Medicaid matching payments for the costs of services to expansion populations at the following rates in all states: (1) 100% in 2014, 2015, and 2016; (2) 95% in 2017; (3) 94% in 2018; (4) 93% in 2019; and (5) 90% thereafter. Reduces, in the case of expansion states, the state share of the costs of covering nonpregnant childless adults by 50% in 2014, 60% in 2015, 70% in 2016, 80% in 2017, 90% in 2018. (Sec. 1202) Requires that Medicaid payment rates to primary care physicians (family medicine, general internal medicine, or pediatric medicine) for furnishing primary care services in 2013 and 2014 be at least 100% of Medicare payment rates under both fee-for-service plans and managed-care plans. Requires a 100% FMAP for the costs to states of meeting this requirement. (Sec. 1203) Lowers the reduction in federal Medicaid DSH payments and advances the reductions to begin in FY2014. Directs the Secretary to develop a methodology for reducing federal DSH allotments to all states in order to achieve the mandated reductions. Extends through FY2013 the federal DSH allotment for a state that has a $0 allotment after FY2011. (Sec. 1204) Authorizes Puerto Rico, Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands to elect to operate a Health Benefits Exchange. Increases federal Medicaid payments to such territories. Raises the caps on federal Medicaid funding for each of the territories. (Sec. 1205) Postpones from October 1, 2010, until October 1, 2011, the effective date of the Community First Choice option established for state Medicaid programs to offer home and community-based attendant services and supports to Medicaid beneficiaries with disabilities who would otherwise require care in a hospital, nursing facility, intermediate care facility for the mentally retarded, or an institution for mental diseases. (Sec. 1206) Revises the definition of a new formulation of an existing drug, for purposes of applying the additional rebate, to specify a line extension of a single source drug or an innovator multiple source drug that is an oral solid dosage form of the drug. Subtitle D: Reducing Fraud, Waste, and Abuse - (Sec. 1301) Revises the meaning of a community mental health center that provides Medicare partial hospitalization services as a distinct and organized intensive ambulatory treatment service offering less than 24-hour-daily care. Establishes new requirements for such community mental health centers. Requires such a center to provide: (1) daily care other than in an individual's home or in an inpatient or residential setting; and (2) at least 40% of its services to individuals who are not eligible for Medicare benefits. (Sec. 1302) Repeals Medicare prepayment medical review limitations to facilitate additional reviews designed to reduce fraud and abuse. (Sec. 1303) Makes additional appropriations to the Health Care Fraud and Abuse Control Account of the Federal Hospital Insurance Trust Fund for FY2011-FY2016. Makes additional appropriations to the Medicare Integrity Program for FY2010 and each subsequent year, indexed for inflation. (Sec. 1305) Revises requirements for the enrollment process for Medicare service providers and suppliers. Requires the Secretary to: (1) withhold payment for a 90-day period after submission of a claim; and (2) conduct enhanced oversight in cases where the Secretary identifies a significant risk of fraud among newly enrolling durable medical equipment (DME) suppliers in a particular category or geographical area. Subtitle E: Provisions Relating to Revenue - (Sec. 1401) Amends the Internal Revenue Code to delay until 2018 the excise tax on high cost employer-sponsored health coverage plans. Increases the dollar thresholds for such tax to $10,200 for self-only coverage and $27,500 for other than self-only coverage (family plans). Increases such threshold amounts for retirees and employees in high risk professions. Excludes separate dental and vision plans from such tax. Allows employers to reduce the cost of plan coverage when applying such tax based upon the age and gender characteristics of all plan employees. (Sec. 1402) Includes net investment income in the Medicare taxable base and imposes a 3.8% tax on such income, beginning in 2013. Excludes from such tax the net investment income of taxpayers with adjusted gross incomes of less than $200,000 ($250,000 for joint returns). Defines "net investment income" to include interest, dividends, annuities, royalties, rents, passive income, and net gain from the disposition of nonbusiness property. (Sec. 1403) Amends PPACA to delay until 2013 the $2,500 limitation on annual salary reduction contributions by an employee to a health flexible spending arrangement under a cafeteria plan. Delays until 2014 the annual inflation adjustment to such limitation amount. (Sec. 1404) Delays until 2011 the fee on sales of branded prescription drugs. Sets forth a schedule of applicable amounts for 2011 through 2018 upon which such fee is based. (Sec. 1405) Imposes a tax on sales after 2012 of any taxable medical device by the manufacturer, producer, or importer equal to 2.3% of the price for which such device is sold. Defines "taxable medical device" as any device intended for humans, except eyeglasses, contact lenses, hearing aids, and any other medical device generally purchased by the general public at retail. Repeals the excise tax on medical devices enacted by PPACA. (Sec. 1406) Delays until 2014 the annual fee on the net premium income of health insurance providers. Allows a reduced fee for tax-exempt insurance providers. Sets forth a schedule of applicable amounts upon which such fee is based for calendar years between 2014 and 2018. Imposes a penalty on health insurance providers who understate net premium income subject to such tax. (Sec. 1407) Delays until 2013 the elimination of the tax deduction for expenses allocable to the Medicare Part D subsidy. (Sec. 1408) Revises the definition of "cellulosic biofuel" for purposes of the cellulosic biofuel producer tax credit to exclude any fuel if more than 4% of such fuel is any combination of water and sediment or the ash content of such fuel is more than 1% (determined by weight). (Sec. 1409) Sets forth rules for the application of the economic substance doctrine to transactions affecting taxpayer liability. Treats a transaction as having economic substance if: (1) the transaction changes in a meaningful way the taxpayer's economic position; and (2) the taxpayer has a substantial purpose, other than tax avoidance, for entering into a transaction. Imposes penalties for underpayments attributable to transactions lacking economic substance. (Sec. 1410) Increases by 15.75% in the third quarter of 2014, the estimated tax payment of corporations with assets of $1 billion or more. Subtitle F: Other Provisions - (Sec. 1501) Amends the Trade Act of 1974 to make appropriations for the community college and career training grant program for FY2011-FY2014. Requires that states receive not less than .5% of amounts appropriated in each fiscal year. Title II: Education and Health - Subtitle A: Education - SAFRA Act - Part I: Investing in Students and Families - (Sec. 2101) Amends the Higher Education Act of 1965 to authorize and appropriate such sums as may be necessary to fully fund maximum Pell Grant amounts, beginning in FY2010. Authorizes and appropriates an additional amount for FY2011. Establishes a new formula for determining increases in the maximum Pell Grant award beginning with the 2013-2014 school year. Ties increases in the maximum Pell Grant amount, from the 2013-2014 school year through the 2017-2018 school year, to increases in the Consumer Price Index. (Sec. 2102) Authorizes and appropriates funds for the College Access Challenge Grant program for FY2010-FY2014. Terminates the authority of the Secretary of Education (Secretary, for purposes of this subtitle) to award grants under such program after FY2014. Increases the minimum state allotment under such program from 0.5% to 1% of the total amount appropriated for such program in a fiscal year. (Sec. 2103) Extends funding for grants to historically Black colleges and universities and other minority-serving institutions through FY2019. Terminates the Secretary's authority to award such grants after FY2019. Part II: Student Loan Reform - (Sec. 2201) Prohibits any new loans from being made or insured under the Federal Family Education Loan (FFEL) program after June 2010, including payments to reduce student costs and FFEL Plus Loans. (Sec. 2206) Allows borrowers who have loans under both the Direct Loan (DL) and FFEL programs, or who have a loan under either program as well as an FFEL that has been sold to the Secretary, to consolidate such loans under the DL program from July 2010 through June 2011, if the borrower has not begun repaying such loans. (Sec. 2207) Terminates after June 2010 unsubsidized Stafford Loans for middle-income borrowers and special allowances. (Sec. 2209) Requires DLs for students and the parents of students attending institutions of higher education (IHEs) outside of the United States to be disbursed through a financial institution located or operating in the United States which is designated by the Secretary to receive DL funds and transfer them to such schools. (Sec. 2212) Directs the Secretary to: (1) award DL servicing contracts to nonprofit servicers that meet certain federal standards and have the capacity to service their loan account allocation; (2) allocate the loan accounts of 100,000 borrowers to each of the nonprofit servicers; and (3) establish a separate pricing tier for each of the first 100,000 borrower loan accounts at a competitive market rate. Permits the Secretary to reallocate, increase, reduce, or terminate a nonprofit servicers allocation based on the performance of such servicer. Makes nonprofit servicers ineligible for such contracts if they have not been awarded such a contract before July 1, 2014, or have had their contract terminated and not been awarded a new contract before such date. Provides funding to the Secretary, from FY2010-2019, for the administrative costs of servicing such contracts. Directs the Secretary to provide IHEs with technical assistance in establishing and administering DL programs. Authorizes and appropriates FY2010 funding for the provision of such assistance. Requires the Secretary to provide payments to loan servicers for retaining jobs at locations in the United States where such servicers were operating under the FFEL program on January 1, 2010. Authorizes and appropriates FY2010-FY2011 funding for the provision of such payments. (Sec. 2213) Lowers the cap on annual, income-based student loan repayments for new borrowers after July 1, 2014 from 15% to 10% of the amount by which a borrower's and the borrower's spouse's adjusted gross income exceeds 150% of the poverty line. Requires the Secretary to forgive the remaining balance of such loans after 20 (currently, 25) years of repayment. Subtitle B: Health - (Sec. 2301) Amends the Patient Protection and Affordable Care Act (PPACA) to apply to grandfathered health plans for plan years beginning on or after January 1, 2014, provisions that prohibit a health plan from applying any waiting period for coverage that exceeds 90 days. (A grandfathered health plan is a group health plan or health insurance coverage in which an individual was enrolled on the date of enactment of PPACA.) Applies to grandfathered health plans for plan years beginning on or after six months after enactment of PPACA provisions that: (1) prohibit a health plan from establishing lifetime limits on the dollar value of benefits for any participant or beneficiary; (2) prohibit a health plan from rescinding coverage of an enrollee except in the case of fraud or intentional misrepresentation of material fact; and (3) require a health plan that provides dependent coverage of children to make such coverage available for an adult child under 26 years of age. Applies to grandfathered group health plans for plan years beginning on or after January 1, 2014, provisions that: (1) prohibit a health plan from establishing annual limits on the dollar value of benefits for any participant or beneficiary, except that restrictions on annual limits apply for plan years beginning on or after six months after enactment of PPACA; and (2) prohibit a health plan from imposing any preexisting condition exclusions, except that such requirements apply for plan years beginning on or after six months after enactment of PPACA for enrollees under 19 years of age. Requires grandfathered group health plans for plan years beginning before January 1, 2014, to provide dependent coverage to an adult child until age 26 only if such child is not eligible to enroll in an employer-sponsored health plan other than such grandfathered health plan. Repeals the requirement that an adult child be unmarried in order to qualify for dependent coverage until age 26. (Sec. 2302) Limits the 340B drug discount program to outpatients drugs and removes exceptions to the prohibition on enrolled hospitals obtaining covered outpatient drugs through a group purchasing organization or a group purchasing arrangement (thus restoring the provisions in effect before enactment of PPACA). Excludes certain drugs designated for a rare disease or condition as covered outpatient drugs for covered entities added to the program under PPACA. (Sec. 2303) Increases the authorization of appropriations for FY2011-FY2015 to the Community Health Center Fund to provide enhanced funding for the community health center program.

measure amended passed senate march summary version repeated health_care_and_education reconciliation act title coverage medicare medicaid coverage sec provisions added patient_protection affordable care act ppaca revise formula calculating refundable tax credit premium assistance coverage qualified health plan establishing sliding scale initial final premium percentage individuals families household incomes federal poverty line requires adjustments initial final premium percentages reflect excess rate premium growth rate growth income consumer price index reduces taxpayer household income maximum employee required contribution employer sponsored plan employee treated eligible employer sponsored minimum essential coverage increases percentage employer cost sharing pocket expenses individuals household incomes federal poverty line sec revises provisions setting forth penalties imposed individuals decline purchase health care coverage lowering maximum penalty increasing penalty rates based taxpayer household income taxable years beginning taxable years beginning sec revises provisions setting forth penalties imposed employers employees decline offer employees health care coverage allow exemption employees including time employees calculating penalty increases applicable penalty employee eliminates assessment large employers extended waiting periods enrollment employer sponsored plans sec modifies definition modified adjusted gross income purposes tax credit premium assistance individual responsibility requirement purchasing health care coverage extends exclusion gross income employer provided health care coverage adult children age requires exchanges offer health care plans provide secretary treasury taxpayers specified information including information level coverage total premium coverage aggregate advance payment premium assistance tax credit amends title xix medicaid social security act allow disregard modified adjusted gross income purposes determining eligibility medical assistance sec department_of_health_and_human_services hhs makes appropriations fund administrative costs carrying ppaca act subtitle amends voluntary prescription drug benefit program title xviii medicare social security act ssa direct secretary hhs provide time rebate medicare enrollees enter medicare coverage gap known medicare donut hole difference standard initial coverage limit catastrophic pocket coverage threshold medicare beneficiary financially responsible amends ppaca delay january deadline establishment medicare coverage gap discount program effective date requirement drug manufacturer participate repeal increase standard initial coverage limit restoring provisions effect enactment ppaca amends ssa title xviii amended ppaca reduce coinsurance percentage covered brand generic drugs closing donut hole discounts revises growth rate pocket cost threshold sec amends ppaca repeal certain provisions concerning payments benchmarks capitation rates requirement secretary analyze differences coding patterns original medicare fee service programs incorporate results risk scores subsequent years amends ssa title xviii freeze payments reduces benchmarks relative current levels varying medicare spending high cost areas medicare spending low cost areas creates incentive system increase payments high quality plans extends authority adjust risk scores observed differences coding patterns relative fee service repeals medicare_prescription_drug improvement modernization act sec requires plans medical loss ratios remit secretary equal specified percentage plan revenue requires secretary prohibit enrollment plan new enrollees consecutive contract years terminate contract plan fails medical loss ratio consecutive contract years sec amends ssa title xviii medicare amended ppaca respect specified reductions medicare disproportionate share hospital dsh payments fy2015 ensuing fiscal years especially subsection hospitals reflect lower uncompensated care costs relative increases number insured generally subsection hospital acute care hospital particularly receives payments medicare inpatient prospective payment system ipps providing covered inpatient services eligible beneficiaries advances beginning reductions fy2015 fy2014 revises reduction formula lower reduction scheduled occur years sec revises hospital market basket reduction applicable payments inpatient hospitals long term care hospitals inpatient rehabilitation facilities psychiatric hospitals outpatient hospitals sec postpones august december date physician owned hospitals provider agreement order participate medicare rural provider hospital exception physician ownership prohibition meet certain requirements addressing conflicts interest bona fide investments patient safety issues expansion limitations modifies expansion limitation imposed rural hospital number operating rooms procedure rooms beds hospital licensed time enactment ppaca greater number rooms beds hospital licensed date allows exception expansion limitation high medicaid hospital treats highest percentage medicaid patients county sole hospital county sec revises special rule physician fee schedule imaging services particular ppaca adjustment practice expense relative value units respect advanced diagnostic imaging services reflect higher presumed utilization rate replaces multiyear phase assumed utilization rate flat rate subsequent years sec modifies employee wage rent portions practice expense geographic index adjustment subsequent years requires portions reflect instead difference relative costs employee wages rents different fee schedule areas national average employee wages rents sec directs secretary provide specified payment fy2011 fy2012 qualifying subsection hospitals located county ranks based age sex race adjusted spending enrollee medicare parts benefits lowest quartile counties united_states subtitle medicaid sec amends ssa title xix medicaid amended ppaca repeal permanent federal matching rate federal medical assistance percentage fmap nebraska medicaid costs newly eligible mandatory individuals expansion populations provides federal medicaid matching payments costs services expansion populations following rates states reduces case expansion states state share costs covering adults sec requires medicaid payment rates primary care physicians family medicine general internal medicine pediatric medicine furnishing primary care services medicare payment rates fee service plans managed care plans requires fmap costs states meeting requirement sec lowers reduction federal payments advances reductions begin fy2014 directs secretary develop methodology reducing federal dsh allotments states order achieve mandated reductions extends fy2013 federal dsh allotment state allotment fy2011 sec authorizes puerto_rico virgin_islands guam american_samoa northern_mariana islands elect operate increases federal medicaid payments territories raises caps federal medicaid funding territories sec postpones october october effective date option established state medicaid programs offer home community based attendant services supports medicaid beneficiaries disabilities require care hospital nursing facility intermediate care facility mentally retarded institution mental diseases sec revises definition new formulation existing drug purposes applying additional rebate specify line extension single source drug innovator multiple source drug oral solid dosage form drug subtitle reducing fraud waste abuse sec revises meaning community mental health center provides medicare partial hospitalization services distinct organized intensive ambulatory treatment service offering hour daily care establishes new requirements community mental health centers requires center provide daily care individual home inpatient residential setting services individuals eligible medicare benefits sec repeals medicare prepayment medical review limitations facilitate additional reviews designed reduce fraud abuse sec makes additional appropriations federal_hospital_insurance_trust_fund fy2011 fy2016 makes additional appropriations subsequent year indexed inflation sec revises requirements enrollment process medicare service providers suppliers requires secretary withhold payment day period submission claim conduct enhanced oversight cases secretary identifies significant risk fraud newly enrolling durable medical equipment dme suppliers particular category geographical area subtitle provisions relating revenue sec amends internal revenue code delay excise tax high cost employer sponsored health coverage plans increases dollar thresholds tax self coverage self coverage family plans increases threshold amounts retirees employees high risk professions excludes separate dental vision plans tax allows employers reduce cost plan coverage applying tax based age gender characteristics plan employees sec includes net investment income medicare taxable base imposes tax income beginning excludes tax net investment income taxpayers adjusted gross incomes joint returns defines net investment income include interest dividends annuities royalties rents passive income net gain disposition nonbusiness property sec amends ppaca delay limitation annual salary reduction contributions employee health flexible spending arrangement cafeteria plan delays annual inflation adjustment limitation sec delays fee sales branded prescription drugs sets forth schedule applicable amounts fee based sec imposes tax sales taxable medical device manufacturer producer importer equal price device sold defines taxable medical device device intended humans contact lenses hearing aids medical device generally purchased general public retail repeals excise tax medical devices enacted ppaca sec delays annual fee net premium income health insurance providers allows reduced fee tax exempt insurance providers sets forth schedule applicable amounts fee based calendar years imposes penalty health insurance providers net premium income subject tax sec delays elimination tax deduction expenses allocable medicare subsidy sec revises definition cellulosic biofuel purposes cellulosic biofuel producer tax credit exclude fuel fuel combination water sediment ash content fuel determined weight sec sets forth rules application economic substance doctrine transactions affecting taxpayer liability treats transaction having economic substance transaction changes meaningful way taxpayer economic position taxpayer substantial purpose tax avoidance entering transaction imposes penalties underpayments attributable transactions lacking economic substance sec increases quarter estimated tax payment corporations assets billion subtitle provisions sec amends trade act appropriations community college career training grant program fy2011 fy2014 requires states receive amounts appropriated fiscal year title education education act investing students families sec amends higher education act authorize appropriate sums necessary fully fund maximum pell_grant amounts beginning fy2010 authorizes appropriates additional fy2011 establishes new formula determining increases maximum pell_grant award beginning school year ties increases maximum pell_grant school year school year increases consumer price index sec authorizes appropriates funds program fy2010 fy2014 terminates authority secretary education secretary purposes subtitle award grants program fy2014 increases minimum state allotment program total appropriated program fiscal year sec extends funding grants historically black colleges universities minority serving institutions fy2019 terminates secretary authority award grants fy2019 student loan reform sec prohibits new loans insured federal_family_education_loan ffel program june including payments reduce student costs ffel plus loans sec allows borrowers loans ffel programs loan program ffel sold secretary consolidate loans program july june borrower begun repaying loans sec terminates june unsubsidized stafford_loans middle income borrowers special allowances sec requires dls students parents students attending institutions higher education ihes outside united_states disbursed financial institution located operating united_states designated secretary receive funds transfer schools sec directs secretary award servicing contracts nonprofit servicers meet certain federal standards capacity service loan account allocation allocate loan accounts borrowers nonprofit servicers establish separate pricing tier borrower loan accounts competitive market rate permits secretary reallocate increase reduce terminate nonprofit allocation based performance servicer makes nonprofit servicers ineligible contracts awarded contract july contract terminated awarded new contract date provides funding secretary fy2010 administrative costs servicing contracts directs secretary provide ihes technical assistance establishing administering programs authorizes appropriates fy2010 funding provision assistance requires secretary provide payments loan servicers retaining jobs locations united_states servicers operating ffel program january authorizes appropriates fy2010 fy2011 funding provision payments sec lowers cap annual income based student loan repayments new borrowers july borrower borrower spouse adjusted gross income exceeds poverty line requires secretary forgive remaining balance loans currently years repayment subtitle health sec amends patient protection affordable care act ppaca apply grandfathered health plans plan years beginning january provisions prohibit health plan applying waiting period coverage exceeds days grandfathered health plan group health plan health insurance coverage individual enrolled date enactment ppaca applies grandfathered health plans plan years beginning months enactment ppaca provisions prohibit health plan establishing lifetime limits dollar value benefits participant beneficiary prohibit health plan rescinding coverage enrollee case fraud intentional misrepresentation material fact require health plan provides dependent coverage children coverage available adult child years age applies grandfathered group health plans plan years beginning january provisions prohibit health plan establishing annual limits dollar value benefits participant beneficiary restrictions annual limits apply plan years beginning months enactment ppaca prohibit health plan imposing preexisting condition exclusions requirements apply plan years beginning months enactment ppaca enrollees years age requires grandfathered group health plans plan years beginning january provide dependent coverage adult child age child eligible enroll employer sponsored health plan grandfathered health plan repeals requirement adult child unmarried order qualify dependent coverage age sec limits 340b drug discount program drugs removes exceptions prohibition enrolled hospitals obtaining covered outpatient drugs group purchasing organization group purchasing arrangement restoring provisions effect enactment ppaca excludes certain drugs designated rare disease condition covered outpatient drugs covered entities added program ppaca sec increases authorization appropriations fy2011 fy2015 provide enhanced funding community health center program


Summary: Amends the Internal Revenue Code to exclude from determination of the production period for distilled spirits any period allocated to the natural aging process for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period.

amends internal revenue code exclude determination production period distilled spirits period allocated natural aging process purposes determining taxpayer expense capitalize interest costs paid incurred production period


Summary: Community Bank and Automotive Industry Recapitalization Act of 2010 - Amends the Internal Revenue Code to exclude from gross income gain from the sale of qualified investment property acquired within 18 months after the enactment of this Act and held for more than five years. Defines "qualified investment property" as original issue stock in a community bank with less than $10 billion in assets or an automotive company.

automotive industry recapitalization act amends internal revenue code exclude gross income gain sale qualified investment property acquired months enactment act held years defines qualified investment property original issue stock community bank billion assets automotive company


Summary: Amends the Congressional Budget Act of 1974 to require the concurrent resolution on the budget for: (1) FY2012 to include a detailed benchmark plan to reduce discretionary spending to eliminate the budget deficit by FY2020; and (2) FY2013-FY2020 to be compliant with such plan, but include any necessary adjustments to meet its goal. Requires the congressional budget committees, if they determine that an economic emergency exists, to include such a statement in the applicable budget resolution. Provides that if such statement is included in the budget resolution, then the detailed benchmark plan to eliminate the budget deficit by FY2020: (1) is not required to be included in such budget resolution; and (2) shall be postponed by one fiscal year. Makes it out of order in both chambers to consider any budget resolution for any fiscal year through 2020 if it is in violation of this Act. Permits waiver or suspension of such requirement, or successful appeals from rulings of the Chair, only by an affirmative vote of three-fifths (60) of the Senate.

amends congressional_budget_act require concurrent resolution budget fy2012 include detailed benchmark plan reduce discretionary spending eliminate budget deficit fy2020 fy2013 fy2020 compliant plan include necessary adjustments meet goal requires congressional budget committees determine economic emergency exists include statement applicable budget resolution provides statement included budget resolution detailed benchmark plan eliminate budget deficit fy2020 required included budget resolution shall fiscal year makes order chambers consider budget resolution fiscal year violation act permits waiver suspension requirement successful appeals rulings chair affirmative vote fifths senate


Summary: Informed Taxpayers' Federal Government Annual Reporting Act of 2010 - Directs the Secretary of the Treasury to prepare for each fiscal year and include in any published instructions for filling out a federal income tax return and on the homepage of the Internal Revenue Service (IRS) website a three-part report containing: (1) federal revenues, outlays, the budget deficit or surplus, and total gross federal debt for the fiscal year and the preceding fiscal year; (2) the number of income tax filers and nonfilers among U.S. households, the number of filers who have an income tax liability greater than zero for the current taxable year, the amount of the total gross federal debt for the fiscal year per such filer, and the difference between the debt per filer for the fiscal year and the preceding fiscal year; and (3) estimates, for the succeeding fiscal year and each of the next 10 fiscal years, of the federal revenues, outlays, and budget deficits or surpluses, the aggregate of such revenues and outlays and the net of such deficits and surpluses, and the average total amount of the total gross federal debt.

annual reporting act directs secretary treasury prepare fiscal year include published instructions filling federal income tax return homepage internal_revenue_service irs website report containing federal revenues outlays budget deficit surplus total gross federal debt fiscal year preceding fiscal year number income tax filers households number filers income tax liability greater zero current taxable year total gross federal debt fiscal year filer difference debt filer fiscal year preceding fiscal year estimates succeeding fiscal year fiscal years federal revenues outlays budget deficits surpluses aggregate revenues outlays net deficits surpluses average total total gross federal debt


Summary: (This measure has not been amended since it was passed by the Senate on December 8, 2010. The summary of that version is repeated here.) Medicare and Medicaid Extenders Act of 2010 - Title I: Extensions - (Sec. 101) Amends title XVIII (Medicare) of the Social Security Act (SSA) to set the 2011 update to the single conversion factor in the formula for the physicians' fee schedule at zero (thus freezing the physician payment update for 2011). Requires the conversion factor for 2012 and subsequent years to be computed as if the zero update for 2011 had never applied. (Sec. 102) Amends the Tax Relief and Health Care Act of 2006, as modified by other federal law, to extend section 508 hospital reclassifications through FY2011. ("Section 508" refers to Section 508 of the Medicare Modernization Act of 2003 [MMA], which allows the temporary reclassification of a hospital with a low Medicare area wage index, for reimbursement purposes, to a nearby location with a higher Medicare area wage index, so that the "Section 508 hospital" will receive the higher Medicare reimbursement rate.) (Sec. 103) Extends through calendar 2011 the 1.0 floor on geographic indexing adjustments to the work portion of the physician fee schedule. (Sec. 104) Extends through December 31, 2011, the process allowing exceptions to limitations on medically necessary therapy caps. (Sec. 105) Amends the Medicare, Medicaid, and SCHIP Benefits Improvement and Protection Act of 2000 to extend until January 1, 2012, an exception to a payment rule that permits laboratories to receive direct Medicare reimbursement when providing the technical component of certain physician pathology services that had been outsourced by certain (rural) hospitals. (Sec. 106) Amends SSA title XVIII to extend the bonus and increased payments for ground ambulance services until January 1, 2012. Amends the Medicare Improvements for Patients and Providers Act of 2008 (MIPPA) to extend the payment of certain urban air ambulance services until January 1, 2012. Extends increased payments for super rural ambulance services until January 1, 2012. (Sec. 107) Amends MIPPA to extend the physician fee schedule mental health add-on payment provision through December 31, 2011. (Sec. 108) Extends through 2011 hold harmless provisions under the prospective payment system for hospital outpatient department services. (Sec. 109) Amends the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, as modified by other federal law, to extend from July 1, 2010, until July 1, 2012, the reasonable cost reimbursement for clinical diagnostic laboratory service for qualifying rural hospitals with under 50 beds. (Sec. 110) Amends SSA title XIX (Medicaid) to extend the Qualifying Individual (Q1) Program through December 31, 2011, at specified allocations. (Sec. 111) Extends the Transitional Medical Assistance (TMA) Program through December 31, 2011. (Sec. 112) Amends the Public Health Service Act to extend through FY2013 the authorization of appropriations for: (1) type I diabetes research; and (2) diabetes prevention and treatment through Indian health facilities. Title II: Other Provisions - (Sec. 201) Amends the Patient Protection and Affordable Care Act (PPACA) to apply to elections made on and after enactment of PPACA the 12-month special Medicare part B (Supplementary Medical Insurance) enrollment period (under title XVIII [Medicare] of the Social Security Act [SSA]) for military retirees, their spouses (including widows/widowers), and dependent children, who are otherwise eligible for TRICARE (the health care plan under the Department of Defense [DOD]) and entitled to Medicare part A (Hospital Insurance) based on disability or end stage renal disease (ESRD), but who have declined Medicare part B (Supplementary Medical Insurance). (Sec. 202) Repeals the delay until FY2012 of the implementation of Version 4 of the Resource Utilization Groups (RUG-IV) for purposes of reimbursing skilled nursing facilities (SNFs) under Medicare. Allows RUG-IV to go into effect on October 1, 2010. (Sec. 203) Revises specified requirements for reallocating unused residency positions to qualifying hospitals for primary care residents for purposes of payments to hospitals for graduate medical education (GME) costs. Applies such requirements to hospitals which are members of the same affiliated group. Makes the reference level for each such hospital the reference resident level with respect to the cost reporting period that results in the smallest difference between such level and the otherwise applicable resident limit. (Sec. 204) Amends the Public Health Service Act and SSA title XIX (Medicaid) to require the inclusion of orphan drugs for rare diseases or conditions among covered outpatient drugs under the 340B drug discount program (which limits the cost of covered outpatient drugs to certain federal grantees) for eligible children's hospitals. (Sec. 205) Makes technical corrections to SSA titles XIX and XXI (Children's Health Insurance Program) (CHIP). Repeals the requirement that Medicaid agencies exclude individuals or entities from participating in Medicaid for a specified period of time if the entity or individual owns, controls, or manages an entity that: (1) has failed to repay overpayments during a specified period; (2) is suspended, excluded, or terminated from participation in any Medicaid program; or (3) is affiliated with an individual or entity that has been suspended, excluded, or terminated from Medicaid participation. Delays until calendar 2014 the increase from 100% to 133% of the income official poverty line applicable to a family of the size involved of the income level the state must establish with respect to a Medicaid group containing children born after September 30, 1983 (or, at state option, after any earlier date), who have attained between 6 and 19 years of age. Amends the Children's Health Insurance Program Reauthorization Act of 2009 with respect to the requirement that the Secretary of Health and Human Services (HHS) calculate or publish any national or state-specific error rate based on the application of the federal payment error rate measurement (PERM) requirements to CHIP. Declares that the Secretary of Health and Human Services is not required to calculate or publish a national or a state-specific error rate for FY2009 or FY2010. Revises requirements for CHIP coverage of the children of state employees as targeted low-income children. Repeals the requirement that the hardship exception in favor of such a child, where the annual aggregate amount of premiums and cost-sharing imposed for coverage of the child's family would exceed 5% of the family's income for the year involved, be determined only on a case-by-case basis. Revises requirements for calculation of the net average allowable costs of a state in the formula for determining federal payments to states to encourage the adoption and use of certified electronic health record (EHR) technology. (Sec. 206) Makes appropriations to the Secretary of HHS for the Centers for Medicare and Medicaid Services Program Management Account with respect to Medicare claims reprocessing. (Sec. 207) Decreases the amounts available for expenditure from the Medicare Improvement Fund for FY2015. (Sec. 208) Amends the Internal Revenue Code to raise the ceiling on the increase allowed in the tax imposed as a result of excess advance payments of the health insurance tax credit under PPACA to a taxpayer whose household income is less than 500% (currently, less than 400%) of the poverty line for the size of the family involved.

measure amended passed senate december summary version repeated medicare medicaid extenders act title extensions sec amends title xviii medicare social security act ssa set update single conversion factor formula physicians fee schedule zero freezing physician payment update requires conversion factor subsequent years computed zero update applied sec amends tax relief health care act modified federal law extend section hospital reclassifications fy2011 section refers section medicare modernization act allows temporary reclassification hospital low medicare area wage index reimbursement purposes nearby location higher medicare area wage index section hospital receive higher medicare reimbursement rate sec extends calendar floor geographic indexing adjustments work portion physician fee schedule sec extends december process allowing exceptions limitations medically necessary therapy caps sec amends medicare medicaid schip benefits improvement protection act extend january exception payment rule permits laboratories receive direct medicare reimbursement providing technical component certain physician pathology services certain rural hospitals sec amends ssa title xviii extend bonus increased payments ground ambulance services january amends medicare_improvements_for_patients_and_providers_act extend payment certain urban air ambulance services january extends increased payments super rural ambulance services january sec amends extend physician fee schedule mental health add payment provision december sec extends hold harmless provisions prospective payment system hospital outpatient department services sec amends medicare_prescription_drug improvement modernization act modified federal law extend july july reasonable cost reimbursement clinical diagnostic laboratory service qualifying rural hospitals beds sec amends ssa title xix medicaid extend december specified allocations sec extends tma program december sec amends public_health_service_act extend fy2013 authorization appropriations type diabetes research diabetes prevention treatment indian health facilities title provisions sec amends patient_protection affordable care act ppaca apply elections enactment ppaca month special medicare supplementary_medical_insurance enrollment period title xviii medicare social security act ssa military retirees spouses including widows widowers dependent children eligible tricare health care plan department_of_defense dod entitled medicare based disability end stage renal disease esrd declined medicare supplementary_medical_insurance sec repeals delay fy2012 implementation version purposes reimbursing skilled nursing facilities snfs medicare allows effect october sec revises specified requirements unused residency positions qualifying hospitals primary care residents purposes payments hospitals graduate medical education gme costs applies requirements hospitals members affiliated group makes reference level hospital reference resident level respect cost reporting period results smallest difference level applicable resident limit sec amends public_health_service_act ssa title xix medicaid require inclusion orphan drugs rare diseases conditions covered outpatient drugs 340b drug discount program limits cost covered outpatient drugs certain federal grantees eligible children hospitals sec makes technical corrections ssa titles xix chip repeals requirement medicaid agencies exclude individuals entities participating medicaid specified period time entity individual owns controls manages entity failed repay overpayments specified period suspended excluded terminated participation medicaid program affiliated individual entity suspended excluded terminated medicaid participation delays calendar increase income official poverty line applicable family size involved income level state establish respect medicaid group containing children born september state option earlier date attained years age amends respect requirement secretary health_and_human_services hhs calculate publish national state specific error rate based application federal payment error rate measurement requirements chip declares secretary health_and_human_services required calculate publish national state specific error rate fy2009 fy2010 revises requirements chip coverage children state employees targeted low income children repeals requirement hardship exception favor child annual aggregate premiums cost sharing imposed coverage child family exceed family income year involved determined case case basis revises requirements calculation net average allowable costs state formula determining federal payments states encourage adoption use certified electronic health record ehr technology sec makes appropriations secretary hhs respect medicare claims reprocessing sec decreases amounts available expenditure medicare_improvement_fund fy2015 sec amends internal revenue code raise ceiling increase allowed tax imposed result excess advance payments health insurance tax credit ppaca taxpayer household income currently poverty line size family involved


Summary: Economic Freedom Act of 2010 - Amends the Internal Revenue Code to: (1) eliminate the tax on the capital gains of individuals and corporations; (2) reduce the maximum corporate income tax rate to 12.5%; (3) allow a permanent and unlimited expensing allowance for depreciable business assets; and (4) reduce payroll tax rates for employers, employees, and self-employed individuals in 2010. Makes permanent the repeal of the estate and generation-skipping transfer taxes. Rescinds unobligated balances available in the American Recovery and Reinvestment Act of 2009. Repeals provisions of such Act relating to the Temporary Assistance to Needy Families program, economic recovery payments, premium assistance for COBRA (health insurance continuation benefits) payments, Medicare and Medicaid health information technology, state fiscal relief, broadband technology, and limits on executive compensation. Amends the Emergency Economic Stabilization Act to repeal the authority for the Troubled Asset Relief Program (TARP). Requires the Secretary of the Treasury to sell all stock and warrants acquired by the Secretary under TARP.

economic freedom act amends internal revenue code eliminate tax capital gains individuals corporations reduce maximum corporate income tax rate allow permanent unlimited expensing allowance depreciable business assets reduce payroll tax rates employers employees self employed individuals makes permanent repeal estate generation skipping transfer taxes rescinds unobligated balances available american_recovery_and_reinvestment_act repeals provisions act relating temporary_assistance needy families program economic recovery payments premium assistance cobra health insurance continuation benefits payments medicare medicaid health information technology state fiscal relief broadband technology limits executive compensation amends emergency economic stabilization act repeal authority troubled_asset_relief_program tarp requires secretary treasury sell stock warrants acquired secretary tarp


Summary: Autofill Act of 2010 - Amends the Internal Revenue Code to require the Secretary of the Treasury to: (1) establish a program to allow taxpayers to download income tax forms that are populated with tax return information (e.g., wages, withholding, and self-employment income) previously reported to the Secretary for the taxable year; (2) establish standards for data download to tax preparation software; and (3) provide on the website of the Department of the Treasury a secure function that allows a taxpayer to download, as both a printable document file and in a form suitable for input to automatic tax preparation software, the 1040, 1040A, and 1040EZ forms that are populated with tax return information previously reported to the Secretary. Establishes deadlines for reporting tax return information to the Secretary and for making such information available for populating tax returns.

amends internal revenue code require secretary treasury establish program allow taxpayers download income tax forms populated tax return information wages withholding self employment income previously reported secretary taxable year establish standards data download tax preparation software provide website department_of_the_treasury secure function allows taxpayer download document file form suitable input automatic tax preparation software 1040ez forms populated tax return information previously reported secretary establishes deadlines reporting tax return information secretary making information available tax returns


Summary: Amends the Internal Revenue Code to make permanent and increase the alternative minimum tax (AMT) exemption amount to $100,000 for married couples filing a joint tax return and surviving spouses and to $75,000 for unmarried individuals. Adjusts such increased exemption amounts for inflation in taxable years beginning after 2010.

amends internal revenue code permanent increase alternative minimum tax amt exemption married couples filing joint tax return surviving spouses unmarried individuals adjusts increased exemption amounts inflation taxable years beginning


Summary: Amends the Internal Revenue Code to suspend until 2015 the dollar limitation, and the reduction in such limitation, on certain depreciable business and investment asssets.

amends internal revenue code suspend dollar limitation reduction limitation certain depreciable business investment


Summary: Restitution for Local Government Act of 2010 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require any profit made by the Secretary of the Treasury under the Troubled Asset Relief Program (TARP) to be used to purchase from local governments any securities, bonds, and other financial instruments issued by Lehman Brothers Holding, Inc. that were held by such governments on September 12, 2008. Limits the aggregate amount of all such purchases to $1.7 billion. Prohibits the purchase of financial instruments held by a pension fund.

restitution local government act amends emergency economic stabilization act eesa require profit secretary treasury troubled_asset_relief_program tarp purchase local governments securities bonds financial instruments issued held governments september limits aggregate purchases billion prohibits purchase financial instruments held pension fund


Summary: Smuggled Tobacco Prevention Act of 2010 or the STOP Act - Amends the Internal Revenue Code to restrict the sale, lease, importation, or delivery of tobacco production machines to persons lawfully engaged in: (1) the sale, lease, or delivery of such machines; (2) the manufacture or processing of tobacco products, including for personal use; or (3) the application of unique identification markings onto tobacco product packages. Defines "tobacco production machine" as a machine used to manufacture, process, or package tobacco products or to apply unique identification markings to packages of tobacco products. Requires any person leasing, importing, exporting, or delivering a tobacco production machine to keep records relating to any transfers or deliveries of such machines. Requires manufacturers and importers of tobacco products to affix a unique identification marking to each package of tobacco products prior to sale or distribution of such products. Directs the Secretary of the Treasury to design a system of unique identification markings that does not interfere with state and local tax stamps and markings. Requires wholesalers of tobacco products to obtain permits for selling or exporting tobacco products. Establishes new criminal offenses relating to the distribution of tobacco products. Increases the civil penalty for tobacco-related infractions from $1,000 to $10,000. Establishes in the Treasury the Anti-Contraband Tobacco Trafficking Fund to finance the enforcement provisions of this Act and other laws relating to contraband or illegal tobacco products using the increased civil and criminal fines provided by this Act. Amends the Tariff Act of 1930 to impose a civil penalty for the importation of tobacco products and cigarette papers and tubes by fraudulent means.

smuggled tobacco prevention act stop act amends internal revenue code restrict sale lease importation delivery tobacco production machines persons lawfully engaged sale lease delivery machines manufacture processing tobacco products including personal use application unique identification markings tobacco product packages defines tobacco production machine machine manufacture process package tobacco products apply unique identification markings packages tobacco products requires person leasing importing exporting delivering tobacco production machine records relating transfers deliveries machines requires manufacturers importers tobacco products affix unique identification marking package tobacco products prior sale distribution products directs secretary treasury design system unique identification markings interfere state local tax stamps markings requires wholesalers tobacco products obtain permits selling exporting tobacco products establishes new criminal offenses relating distribution tobacco products increases civil penalty tobacco related establishes treasury finance enforcement provisions act laws relating contraband illegal tobacco products increased civil criminal fines provided act amends tariff act impose civil penalty importation tobacco products cigarette papers tubes fraudulent means


Summary: Municipal Finance Improvements Act of 2010 - Amends the Internal Revenue Code to require the issuer of a tax-exempt state or local bond to obtain an optimal bond financing certification. Defines "optimal bond financing certification" as a written statement by an independent qualified financial advisor that the issuance fees and aggregate interest cost to the bond issuer are reasonable without materially increasing the risks to the issuer or bond obligors. Allows a tax credit for small issuers of tax-exempt bonds. Defines a "small issuer" as any issuer of tax-exempt bonds with an aggregate face value not exceeding $50 million in a calendar year.

municipal finance improvements act amends internal revenue code require issuer tax exempt state local bond obtain optimal bond financing certification defines optimal bond financing certification written statement independent qualified financial advisor issuance fees aggregate interest cost bond issuer reasonable materially increasing risks issuer bond allows tax credit small issuers tax exempt bonds defines small issuer issuer tax exempt bonds aggregate face value exceeding million calendar year


Summary: Motherhood Fairness Act of 2010 - Amends the Internal Revenue Code to allow a child tax credit to the birth mother of a child who is formally placed for adoption and to the taxpayer who adopts such child.

fairness act amends internal revenue code allow child tax credit birth mother child formally placed adoption taxpayer adopts child


Summary: Real Estate Investment Incentive Act of 2010 - Amends the Internal Revenue Code to reduce to 5% the rate of tax on net capital gains from the sale or exchange of depreciable real property placed in service before January 1, 2011. Defines "depreciable real property" as investment property which is part of a building with fewer than two residential rental units.

real estate investment incentive act amends internal revenue code reduce rate tax net capital gains sale exchange depreciable real property placed service january defines depreciable real property investment property building fewer residential rental units


Summary: National Disaster Tax Extenders Act - Amends the Internal Revenue Code to exclude a casualty loss tax deduction for disaster losses sustained after December 31, 2009, and before January 1, 2011, from an individual's gross income in determining adjusted gross income. Extends through 2010: (1) such casualty loss deduction; (2) expensing of disaster abatement and cleanup expenses; (3) the five-year carryback period of net operating losses attributable to federally declared disasters; and (4) the special depreciation allowance for qualified disaster assistance property.

exclude casualty loss tax deduction disaster losses sustained december january individual gross income determining adjusted gross income extends casualty loss deduction expensing disaster abatement cleanup expenses year carryback period net operating losses attributable federally declared disasters special depreciation allowance qualified disaster assistance property


Summary: Tax Information for New Fiscal Oversight Act of 2010 - Directs the Joint Committee on Taxation, beginning with its 2011 annual tax expenditure report, to: (1) analyze each tax expenditure identified in such report for its equity, efficiency, and ease of administration; and (2) reflect in such report the aggregate annual revenue lost due to such tax expenditures.

tax information new fiscal oversight act directs joint_committee_on_taxation beginning annual tax expenditure report analyze tax expenditure identified report equity efficiency ease administration reflect report aggregate annual revenue lost tax expenditures


Summary: Foreign-Held Debt Transparency and Threat Assessment Act - Expresses the sense of Congress about the growing federal debt of the United States, the increasing U.S. dependence on foreign creditors like its largest foreign creditor, the People's Republic of China, whose holdings could give China a tool with which to manipulate U.S. policymaking (including with respect to Taiwan) and pose a direct threat to the national economy and national security. Directs the President to report quarterly to certain congressional committees on the risks posed by foreign holdings of U.S. debt instruments, and make such report public on the Internet. Directs the Comptroller General to report annually to certain congressional committees on such risks. Directs the President to formulate, report to the appropriate congressional committees, and implement a plan of action to reduce an unsustainable level of risk to an acceptable and sustainable level, in a manner that results in a reduction in federal spending, in any case in which the President or the Comptroller General makes specified determinations that a foreign country's holdings of U.S. debt instruments pose an unacceptable risk to long-term national security or economic stability, or that the levels of risk posed by the federal debt are unsustainable.

foreign held debt transparency threat assessment act expresses sense congress growing federal debt united_states increasing dependence foreign creditors like largest foreign creditor holdings china tool policymaking including respect taiwan pose direct threat national economy national security directs president report quarterly certain congressional committees risks posed foreign holdings debt instruments report public internet directs comptroller general report annually certain congressional committees risks directs president formulate report appropriate congressional committees implement plan action reduce unsustainable level risk acceptable sustainable level manner results reduction federal spending case president comptroller_general makes specified determinations foreign country holdings debt instruments pose unacceptable risk long term national security economic stability levels risk posed federal debt unsustainable


Summary: War is Making You Poor Act - Limits amounts made available to the Department of Defense (DOD) in any appropriations Act for fiscal year 2011 that may be available for the base budget or for overseas contingency operations in Iraq, Afghanistan, or Pakistan. Amends the Internal Revenue Code to allow individual taxpayers whose modified adjusted gross income is $35,000 or less ($70,000 for married couples) a tax credit (designated as the War is Making You Poor Tax Credit) equal to their net income tax liability for the first taxable year beginning in 2011.

war making poor act limits amounts available department_of_defense dod appropriations act fiscal year available base budget overseas contingency operations iraq afghanistan pakistan amends internal revenue code allow individual taxpayers modified adjusted gross income married couples tax credit designated war making poor tax credit equal net income tax liability taxable year beginning


Summary: Green Energy Efficient Roofs and Job Creation Act of 2010 - Amends the Internal Revenue Code to classify as 20-year property for depreciation purposes a roof replacement on a commercial building during 2010 or 2011 with a roof assembly which has the new insulation installed entirely above the roof deck and which meets or exceeds the minimum R-value for the appropriate climate zone as specified in the International Energy Conservation Code.

efficient roofs job creation act amends internal revenue code classify year property depreciation purposes roof replacement commercial building roof assembly new insulation installed entirely roof deck meets exceeds minimum value appropriate climate zone specified


Summary: Amends the Internal Revenue Code to classify any computer-based gambling machine, including slot machines and video lottery terminals, as five-year property for depreciation purposes.

amends internal revenue code classify computer based gambling machine including slot machines video lottery terminals year property depreciation purposes


Summary: Investing Income at Home Act of 2010 - Amends the Internal Revenue Code to exclude from the definition of "personal holding company income" foreign affiliate dividends designated for reinvestment in the United States. Imposes an additional tax on such dividends if they are not reinvested in the United States within five years.

investing income home act amends internal revenue code exclude definition personal holding company income foreign affiliate dividends designated reinvestment united_states imposes additional tax dividends reinvested united_states years


Summary: Family Farm Estate Tax Relief Act of 2010 - Amends the Internal Revenue Code to: (1) exclude from the value of a decedent's gross estate farmland used by an heir for farming purposes; (2) impose a recapture tax on an heir who disposes of such farmland after the decedent's death or who ceases to use such farmland for farming purposes; and (3) increase the limitation on the estate tax exclusion for land subject to a qualified conservation easement to $5 million and the percentage of the value of such land that is excludable.

amends internal revenue code exclude value decedent gross estate farmland heir farming purposes impose recapture tax heir disposes farmland decedent death ceases use farmland farming purposes increase limitation estate tax exclusion land subject qualified conservation easement million percentage value land excludable


Summary: Check the Debt Act of 2010 - Amends the Internal Revenue Code to allow individual taxpayers (other than nonresident aliens) to designate $3 or more of their tax liability ($6 for married couples filing a joint tax return) to reduce the public debt.

check debt act amends internal revenue code allow individual taxpayers nonresident aliens designate tax liability married couples filing joint tax return reduce public debt


Summary: Stop Outsourcing and Create American Jobs Act of 2010 - Directs the Secretary of the Treasury to develop and publish a list of countries that are tax havens for corporations. Amends the Internal Revenue Code to increase the penalties on corporations for: (1) underpayment of tax involving an undisclosed foreign financial asset located in a tax haven country; (2) reportable transaction understatements involving transactions in a tax haven country; and (3) fraud, tax evasion, or false statements involving transactions in a tax haven country. Grants a preference in the award of federal contracts to contractors who have not engaged in outsourcing. Defines "outsourcing" as the laying off of a U.S. worker from a job and the hiring or contracting for the same job to be performed in a foreign country. Requires revenues generated by this Act to be set aside for the reduction of the public debt.

stop outsourcing directs secretary treasury develop publish list countries tax havens corporations amends internal revenue code increase penalties corporations underpayment tax involving undisclosed foreign financial asset located tax haven country reportable transaction understatements involving transactions tax haven country fraud tax evasion false statements involving transactions tax haven country grants preference award federal contracts contractors engaged outsourcing defines outsourcing laying worker job hiring contracting job performed foreign country requires revenues generated act set aside reduction public debt


Summary: Securing Knowledge, Innovation, and Leadership Act of 2010 or the SKIL Act of 2010 - Amends the Immigration and Nationality Act to exempt from the annual H-1B (specialty occupation) visa cap an alien who has: (1) earned a master's or higher degree from an accredited U.S. university; or (2) been awarded a medical specialty certification based on post-doctoral training and experience in the United States. Increases the annual H-1B cap, with a 20% increase for the following year if the previous year's quota is reached. Exempts from worldwide immigration caps an alien who: (1) has earned a master's or higher degree from an accredited U.S. university; (2) has been awarded medical specialty certification based on postdoctoral training and experience in the United States; (3) will work in shortage occupations; (4) has earned a master's degree or higher in science, technology, engineering, or math and has been working in a related field in the United States during the three-year period preceding his or her immigrant visa application; (5) has extraordinary ability or received a national interest waiver; or (6) is the spouse or minor child of an employment-based immigrant. Increases the annual immigrant visa cap. Revises student visa provisions. Authorizes an L-1 (intracompany transfer) visa extension beyond the fifth or seventh year if the individual has a immigrant application pending. Permits an alien with an approved labor certification to apply for permanent resident status adjustment if there is no visa immediately available by paying a $500 supplemental fee. Directs the Secretary of Homeland Security (DHS) to establish a pre-certification procedure for employers who file multiple employment petitions. Revises certain labor certification provisions. Prohibits immigration application approval until background and security checks have been completed and any fraud allegations have been resolved. Authorizes temporary workers (E, H, I, L O, or P visas) who have not violated their status to renew their same category visa from within the United States.

innovation leadership act act amends immigration nationality act exempt annual h-1b specialty occupation visa cap alien earned master higher degree accredited university awarded medical specialty certification based post doctoral training experience united_states increases annual h-1b cap increase following year previous year quota reached exempts worldwide immigration caps alien earned master higher degree accredited university awarded medical specialty certification based postdoctoral training experience united_states work shortage occupations earned master degree higher science technology engineering math working related field united_states year period preceding immigrant visa application extraordinary ability received national interest waiver spouse minor child employment based immigrant increases annual immigrant visa cap revises student visa provisions authorizes l-1 intracompany transfer visa extension fifth seventh year individual immigrant application pending permits alien approved labor certification apply permanent resident status adjustment visa immediately available paying supplemental fee directs secretary homeland_security dhs establish pre certification procedure employers file multiple employment petitions revises certain labor certification provisions prohibits immigration application approval background security checks completed fraud allegations resolved authorizes temporary workers visas violated status renew category visa united_states


Summary: Amends the Internal Revenue Code to allow the Secretary of the Treasury to pay advance refunds or credits of 2008 recovery rebates after December 31, 2008, if necessary to correct a manifest injustice.

amends internal revenue code allow secretary treasury pay advance refunds credits recovery rebates december necessary correct manifest


Summary: Main Street Fairness Act - Grants the consent of Congress to the Streamlined Sales and Use Tax Agreement (Agreement), the multistate agreement on sales and use tax collection and administration adopted on November 12, 2002. Authorizes each state that is a party to the Agreement (member state), after 10 states (comprising at least 20% of the total population of all states imposing a sales tax) have petitioned for and have become member states, to require all remote sellers not qualifying for the small seller exception to collect and remit sales and use taxes on remote sales owed to each such member state under the terms of the Agreement. Terminates such authority if the requirements of this Act cease to be satisfied or an amendment adopted to the Agreement is outside the scope of administration of sales and use taxes by the member states or is inconsistent with the provisions of this Act. Permits a federally recognized Indian tribe that imposes a generally applicable sales tax to petition to become a member state. Allows any person affected by the Agreement to petition the Governing Board established by the Agreement for a determination of any issue arising under the Agreement. Provides for judicial review of Governing Board determinations by the United States Court of Federal Claims and grants such Court exclusive jurisdiction over actions for judicial review. Sets forth minimum requirements for simplifying the administration of multistate sales and use taxation under the Agreement. Provides for judicial review of any civil action challenging the constitutionality of this Act by a panel of three judges of a U.S. District Court. Expresses the sense of Congress that each member state under the Agreement should work with other member states to prevent double taxation where a foreign country has imposed a transaction tax on a digital good or service.

fairness act grants consent congress streamlined sales use tax agreement agreement multistate agreement sales use tax collection administration adopted november authorizes state party agreement member state states comprising total population states imposing sales tax petitioned member states require remote sellers qualifying small seller exception collect remit sales use taxes remote sales owed member state terms agreement terminates authority requirements act cease satisfied amendment adopted agreement outside scope administration sales use taxes member states inconsistent provisions act permits federally recognized indian tribe imposes generally applicable sales tax petition member state allows person affected agreement petition governing_board established agreement determination issue arising agreement provides judicial review governing_board determinations grants court exclusive jurisdiction actions judicial review sets forth minimum requirements simplifying administration multistate sales use taxation agreement provides judicial review civil action challenging constitutionality act panel judges district_court expresses sense congress member state agreement work member states prevent double taxation foreign country imposed transaction tax digital good service


Summary: Responsible Estate Tax Act - Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) eliminating the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent for estates of decedents dying after 2009 (thus restoring prior law). Declares that the sunset provision (general terminating date of December 10, 2010) of EGTRRA shall not apply to title V of such Act ( Estate, Gift, and Generation-Skipping Transfer Tax Provisions). Amends the Internal Revenue Code to: (1) revise estate tax brackets for estates over $750,000 and impose a maximum tax rate of 55% on estates over $50 million; (2) impose a 10% surtax on estates over $500 million; (3) increase to $3 million the reduction in valuations of farmland for estate tax puposes; (4) increase to $2 million the maximum estate tax exclusion for contributions of conservation easements; (5) require executors of estates to file information returns and provide valuations and consistent basis information to persons acquiring property from decedents or by gift; (6) set forth estate valuation rules for certain transfers of nonbusiness assets and limit estate tax discounts for certain individuals with minority interests in a business acquired from a decedent; and (7) revise rules for valuing assets in grantor retained annuity trusts to require that the right to receive fixed amounts from an annuity last for a term of not less than 10 years, that such fixed amounts not decrease during the first 10 years of the annuity term, and that the remainder interest have a value greater than zero when transferred.

responsible estate tax act repeals provisions economic_growth_and_tax_relief_reconciliation_act egtrra eliminating tax estates generation skipping transfers step basis provisions property acquired decedent estates decedents dying restoring prior law declares sunset provision general terminating date december egtrra shall apply title act estate gift generation-skipping_transfer_tax_provisions amends internal revenue code revise estate tax brackets estates impose maximum tax rate estates million impose surtax estates million increase million reduction valuations farmland estate tax increase million maximum estate tax exclusion contributions conservation easements require executors estates file information returns provide valuations consistent basis information persons acquiring property decedents gift set forth estate valuation rules certain transfers nonbusiness assets limit estate tax discounts certain individuals minority interests business acquired decedent revise rules valuing assets grantor retained annuity trusts require right receive fixed amounts annuity term years fixed amounts decrease years annuity term remainder interest value greater zero transferred


Summary: Investing in Our Future Act of 2010 - Amends the Internal Revenue Code to impose an excise tax on currency transactions exceeding $10,000 equal to 0.005% of the value of the currency acquired in the transaction (currency transaction tax). Establishes in the Treasury: (1) the Child Care Assistance Trust Fund, which shall be funded with 20% of the revenues from the currency transactions tax and which shall be used to provide increased allocations to states for child care assistance; (2) the Multilateral Global Health Trust Fund, which shall be funded with 40% of the revenues from such tax and from which the Secretary of State shall make grants to assist developing countries in addressing HIV/AIDS, tuberculosis, malaria, maternal mortality, family planning, neglected diseases, and other health issues; and (3) the Global Climate Change Adaptation and Mitigation Trust Fund, which shall be funded with 40% of the revenues from such tax and which shall be used for contributions to a United Nations Framework Convention on Climate Change global climate fund for climate change adaptation and mitigation.

investing future act amends internal revenue code impose excise tax currency transactions exceeding equal value currency acquired transaction currency transaction tax establishes treasury child care assistance trust fund shall funded revenues currency transactions tax shall provide increased allocations states child care assistance shall funded revenues tax secretary state shall grants assist developing countries addressing hiv aids tuberculosis malaria maternal mortality family planning neglected diseases health issues shall funded revenues tax shall contributions climate change global climate fund climate change adaptation mitigation


Summary: Close Foreign Tax Loopholes: Make it in America Act of 2010 - Amends the Internal Revenue Code, with respect to the taxation of foreign income and the foreign tax credit, to: (1) suspend the recognition of foreign tax credits until the related foreign income is taken into account for U.S. tax purposes; (2) deny a foreign tax credit for foreign income not subject to U.S. taxation due to a covered asset acquisition (defined as an acquisition that results in an increase in tax basis for U.S. tax purposes but not for foreign tax purposes); (3) apply a separate foreign tax credit limitation for each item of income that would be treated as derived from sources within the United States and that would be treated as arising from sources outside the United States under a treaty obligation (if the taxpayer chooses the benefits of such treaty); (4) limit the amount of foreign tax credits that may be claimed by a U.S. domestic corporation with respect to a deemed dividend paid by a foreign subsidiary; (5) prevent a reduction in earnings in profits of a foreign corporation in an acquisition if more than 50% of the dividends arising from such acquisition would not be subject to U.S. taxation or would be includible in the earnings and profits of a controlled foreign corporation; (6) treat a foreign corporation as a member of an affiliated group for interest allocation and apportionment purposes if more than 50% of its gross income is effectively connected with a U.S. trade or business and at least 80% of either the vote or value of its outstanding stock is owned directly or indirectly by members of the affiliated group; (7) repeal tax rules exempting foreign source income attributable to the active conduct of a foreign trade or business from withholding of tax requirements; (8) treat as income received in the United States amounts received from noncorporate residents or domestic corporations with respect to guarantees and amounts paid by any foreign person if such amounts are connected with income that is effectively connected with the conduct of a trade or business in the United States; and (9) provide that the statute of limitations for assessing any tax on certain foreign transactions shall apply only to items related to a failure to provide information to the Internal Revenue Service (IRS) due to reasonable cause and not willful neglect.

close foreign tax loopholes america act amends internal revenue code respect taxation foreign income foreign tax credit suspend recognition foreign tax credits related foreign income taken account tax purposes deny foreign tax credit foreign income subject taxation covered asset acquisition defined acquisition results increase tax basis tax purposes foreign tax purposes apply separate foreign tax credit limitation item income treated derived sources united_states treated arising sources outside united_states treaty obligation taxpayer chooses benefits treaty limit foreign tax credits claimed domestic corporation respect deemed dividend paid foreign subsidiary prevent reduction earnings profits foreign corporation acquisition dividends arising acquisition subject taxation includible earnings profits controlled foreign corporation treat foreign corporation member affiliated group interest allocation apportionment purposes gross income effectively connected trade business vote value outstanding stock owned directly indirectly members affiliated group repeal tax rules exempting foreign source income attributable active conduct foreign trade business withholding tax requirements treat income received united_states amounts received noncorporate residents domestic corporations respect guarantees amounts paid foreign person amounts connected income effectively connected conduct trade business united_states provide statute limitations assessing tax certain foreign transactions shall apply items related failure provide information internal_revenue_service irs reasonable cause willful neglect


Summary: Fair American Corporate Tax Act or FACT Act - Amends the Internal Revenue Code to: (1) decrease from 35% to 28% the top marginal income tax rate for corporations (including personal service corporations); and (2) provide that the amount of any tax withholding for deductible payments made by a U.S. subsidiary of a foreign parent corporation to a related subsidiary in any country that has a tax treaty with the United States shall not be less than the amount which would be imposed if the payment were made directly to the foreign parent corporation.

fact act amends internal revenue code decrease marginal income tax rate corporations including personal service corporations provide tax withholding deductible payments subsidiary foreign parent corporation related subsidiary country tax treaty united_states shall imposed payment directly foreign parent corporation


Summary: Amends the Internal Revenue Code to repeal provisions that provide for the advance payment of the earned income tax credit.

amends internal revenue code repeal provisions provide advance payment earned income tax credit


Summary: Poverty Measurement Improvement Act - Amends the Social Security Act to require the Bureau of the Census, annually, to publish statistics on levels of family income in the United States that take into account the full benefits poverty income measure and the partial benefits poverty income measure. Defines: (1) "partial benefits poverty income measure" to mean money income as defined by the Bureau for purposes of any survey relating to income or poverty in the United States; and (2) "full benefits poverty income measure" to mean the sum of the partial benefits poverty income measure and other non-cash benefits (including supplemental nutrition assistance benefits, housing subsidies, the actuarial value of health insurance coverage, and any other state or federal means-tested benefits) attributable to the members of the household involved, including non-related members, as calculated by the Bureau by applying its current disposable income methodology. Requires the Bureau to produce corresponding tables and graphs showing for each year the poverty rates (and related data) determined by using each such measure.

poverty measurement improvement act amends social security act require bureau_of_the_census annually publish statistics levels family income united_states account benefits poverty income measure partial benefits poverty income measure defines partial benefits poverty income measure mean money income defined bureau purposes survey relating income poverty united_states benefits poverty income measure mean sum partial benefits poverty income measure non cash benefits including supplemental nutrition assistance benefits housing subsidies actuarial value health insurance coverage state federal means tested benefits attributable members household involved including non related members calculated bureau applying current disposable income methodology requires bureau produce corresponding tables showing year poverty rates related data determined measure


Summary: Amends the Internal Revenue Code to authorize the U.S. Tax Court to: (1) appoint a clerk of court and other necessary employees without regard to civil service provisions governing appointments in the competitive service and to fix and adjust the compensation for such employees; (2) establish programs for employee evaluations, incentive awards, flexible work schedules, premium pay, and resolution of employee grievances; and (3) hire experts and consultants. Requires the Court's personnel management system to incorporate existing merit system principles and employee appeal rights, prohibit employment discrimination and prohibited personnel practices, and provide appropriate preference in hiring. Authorizes the judges and special trial judges of such Court to appoint their own employees, including law clerks, without regard to civil service provisions governing appointments in the competitive service.

amends internal revenue code authorize appoint clerk court necessary employees regard civil service provisions governing appointments competitive service fix adjust compensation employees establish programs employee evaluations incentive awards flexible work schedules premium pay resolution employee grievances hire experts consultants requires court personnel management system incorporate existing merit system principles employee appeal rights prohibit employment discrimination prohibited personnel practices provide appropriate preference hiring authorizes judges special trial judges court appoint employees including law regard civil service provisions governing appointments competitive service


Summary: Community Recovery and Enhancement Act of 2010 or the CRE Act of 2010 - Amends the Internal Revenue Code to allow a new tax deduction for 50% of equity investment in a partnership (qualified debt reduction equity investment) and 50% of any payment on commercial real property (qualified debt reduction payment) made to reduce the principal amount of the qualified indebtedness of such partnership or commercial property. Defines "qualified indebtedness" to mean any indebtedness incurred or assumed by a partnership or other taxpayer before January 1, 2009, which is secured by commercial real property. Requires a recapture in income of any deduction taken by a partnership if such partnership incurs additional indebtedness within three years after receiving a qualified debt reduction equity investment under this Act.

community recovery enhancement act act amends internal revenue code allow new tax deduction equity investment partnership qualified debt reduction equity investment payment commercial real property qualified debt reduction payment reduce principal qualified indebtedness partnership commercial property defines qualified indebtedness mean indebtedness incurred assumed partnership taxpayer january secured commercial real property requires recapture income deduction taken partnership partnership incurs additional indebtedness years receiving qualified debt reduction equity investment act


Summary: Truth in Spending Act of 2010 - Requires the President's annual budget request to Congress to include the most recent reports of the Director of the Office of Management and Budget (OMB) regarding the difference between the actual costs and the estimated costs of direct spending legislation, including proposed legislative language, if any, in such reports. Requires OMB to submit annually for inclusion in the President's budget request reports (with follow-up reports every five fiscal years) on the total estimated cost and total actual cost of direct spending legislation for the then budget year and four outyears. Requires the President, within seven days after receiving an OMB report, to submit proposed legislative language, if any, set forth in the report to both chambers. Prescribes the procedure for fast track consideration of the legislation in both chambers.

truth spending act requires president annual budget request congress include recent reports director office_of_management_and_budget omb difference actual costs estimated costs direct spending legislation including proposed legislative language reports requires omb submit annually inclusion president budget request reports follow reports fiscal years total estimated cost total actual cost direct spending legislation budget year outyears requires president seven days receiving omb report submit proposed legislative language set forth report chambers prescribes procedure fast track consideration legislation chambers


Summary: Amends the Internal Revenue Code to increase from $600 to $2,200 the additional standard tax deduction for individuals age 65 and older and allow an annual inflation adjustment for such increased amount.

amends internal revenue code increase additional standard tax deduction individuals age older allow annual inflation adjustment increased


Summary: Tax Education & Accountability Act or the TEA Act - Amends the Internal Revenue Code to repeal the withholding of income tax. Makes such repeal effective on or after the first January 1 occurring 1 year after the enactment of this Act.

accountability act tea act amends internal revenue code repeal withholding income tax makes repeal effective january occurring year enactment act