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National
Key Vote
JOBS (Jumpstart Our Business Strength)
Project Vote Smart's Synopsis:
Vote to pass a bill that would repeal the foreign sales corporation/extraterritorial income tax system ruled illegal by the World Trade Organization (WTO) and other purposes.
Official Title of Legislation:
HR 4520: To amend the Internal Revenue Code of 1986 to remove impediments in such Code and make our manufacturing, service, and high-technology businesses and workers more competitive and productive both at home and abroad.
Highlights:
-Provides an estimated $145 billion in new tax reductions to U.S. corporations over the next 10 years.
-Reduces the corporate tax rate from 35% to 32% for domestic manufacturers and small corporations.
-Allow voters who pay no state income tax to write off their state sales taxes on their federal tax return (Sec. 501).
-Permits private collection agencies to track down delinquent taxpayers (Sec. 881).
-Allots $10 billion to buyout annual federal allotments for tobacco farmers (Sec. 626).
Link to Legislation: http://thomas.loc.gov/cgi-bin/query/z?c108:hr4520:
House Passage: 06/17/2004 : Bill Passed 251 - 178 (Roll no. 259) Senate Passage With Amendment: 07/15/2004 : Bill Passed Voice Vote House Conference Report Vote: 10/07/2004 : Conference Report Adopted 280 - 141 (Roll no. 509) Senate Conference Report Vote: 10/11/2004 : Conference Report Adopted: 69 - 17 (Record Vote Number 211) President Passage: 10/22/2004 : Signed Became Public Law Number 108-357
Sponsor: Rep. Thomas, William (R-CA) (out of office)
Cosponsors: Rep. Blackburn, Marsha (R-TN)
Rep. Brady, Kevin (R-TX)
Rep. Brown, Henry Jr. (R-SC)
Rep. Burr, Richard (R-NC) (out of office)
Rep. Camp, David (R-MI)
Rep. Cantor, Eric (R-VA)
Rep. Carter, John (R-TX)
Rep. Collins, Mac (R-GA) (out of office)
Rep. Crane, Philip (-IL) (out of office)
Rep. Culberson, John (R-TX)
Rep. Duncan, John Jr. (R-TN)
Rep. Dunn, Jennifer (R-WA) (out of office)
Rep. English, Philip (R-PA) (out of office)
Rep. Feeney, Tom (R-FL) (out of office)
Rep. Foley, Mark (R-FL) (out of office)
Rep. Granger, Kay (R-TX)
Rep. Harris, Katherine (R-FL) (out of office)
Rep. Hayworth, John Jr. (R-AZ) (out of office)
Rep. Herger, Walter Jr. (R-CA)
Rep. Houghton, Amory Jr. (-NY) (out of office)
Rep. Hulshof, Kenny (R-MO) (out of office)
| Rep. Isakson, John (-GA) (out of office)
Rep. Jenkins, William Lewis (R-TN) (out of office)
Rep. Johnson, Nancy (R-CT) (out of office)
Rep. Johnson, Samuel (R-TX)
Rep. Kingston, Jack (R-GA)
Rep. Lewis, Ron (R-KY) (out of office)
Rep. McCrery, James III (R-LA) (out of office)
Rep. McInnis, Scott (-CO) (out of office)
Rep. Nethercutt, George Jr. (R-WA) (out of office)
Rep. Neugebauer, Randy (R-TX)
Rep. Portman, Robert (R-OH) (out of office)
Rep. Ramstad, James (R-MN) (out of office)
Rep. Rogers, Harold (R-KY)
Rep. Ryan, Paul (R-WI)
Rep. Sessions, Peter (R-TX)
Rep. Shaw, E. Clay Jr. (R-FL) (out of office)
Rep. Smith, Lamar (R-TX)
Rep. Wamp, Zach (R-TN)
Rep. Whitfield, Edward (R-KY)
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PVS provides summaries for each version of the bill selected as a key vote. The summary does not necessarily reflect the final version of the bill. For further status information, call the Voter's Research Hotline at 1-888-VOTE-SMART (1-888-868-3762).
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