H.R.9: Small Business Tax Cut Act

About This Bill

  • This bill was introduced in the 112th Congress
  • This bill is primarily about taxation
  • Introduced March 21, 2012
  • Latest Major Action April 23, 2012

Bill Sponsor

Bill Summary

Small Business Tax Cut Act - Amends the Internal Revenue Code to allow a qualified small business a tax deduction equal to 20% of the lesser of qualified domestic business income or taxable income. Defines: (1) "qualified small business" as any employer engaged in a trade or business if such employer had fewer than 500 full-time employees in either 2010 or 2011; and (2) "qualified domestic business income" as an amount equal to the excess (if...

(Source: Library of Congress)

What Lawmakers Are Saying About This Bill

There are 5 statements associated with H.R.9.

Congressional Budget Office Estimate

The Congressional Budget Office has produced a cost estimate for H.R.9.

Bill Actions

Date Description
Referred to the House Committee on Ways and Means.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 21 - 14.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 112-425.
Placed on the Union Calendar, Calendar No. 292.
Rules Committee Resolution H. Res. 620 Reported to House. Rule provides for consideration of H.R. 9 with 1 hour of general debate. Motion to recommit with or without instructions allowed. Measure will be considered read. A specified amendment is in order. The resolution waives all points of order against consideration of the bill. The resolution provides that the amendment in the nature of a substitute, now printed in the bill, shall be considered as adopted. The resolutions waives all points of order against provisions of the bill, as amended. The resolution makes in order the amendment in the nature of a substitute, for 20 minutes of debate, which shall not be subject to amendment.
Rule H. Res. 620 passed House.
Considered under the provisions of rule H. Res. 620.
Rule provides for consideration of H.R. 9 with 1 hour of general debate. Motion to recommit with or without instructions allowed. Measure will be considered read. A specified amendment is in order. The resolution waives all points of order against consideration of the bill. The resolution provides that the amendment in the nature of a substitute, now printed in the bill, shall be considered as adopted. The resolutions waives all points of order against provisions of the bill, as amended. The resolution makes in order the amendment in the nature of a substitute, for 20 minutes of debate, which shall not be subject to amendment.
DEBATE - Pursuant to the provisions of H.Res. 620, as amended, the House proceeded with 70 minutes of debate on H.R. 9.
DEBATE - Pursuant to the provisions of H. Res. 620, as amended, the House proceeded with 25 minutes of debate on the Levin substitute amendment.
Mr. Deutch moved to recommit with instructions to Ways and Means.
DEBATE - The House proceeded with 10 minutes of debate on the Deutch motion to recommit with instructions. The instructions contained in the motion seek to report the same back to the House forthwith with amendments to prevent the tax deduction from allowing companies to ship jobs overseas. It would also prevent the tax deduction from being used on income from prostitution, pornography, drug trafficking, lobbying, golf courses that discriminate based on sex or race, or by taxpayers who violate Iran sanctions. Further, any Member of Congress taking the deduction would have to disclose the deduction amount and type of business income from which it came.
The previous question on the motion to recommit with instructions was ordered without objection.
On motion to recommit with instructions Failed by recorded vote: 179 - 229 (Roll no. 176).
On passage Passed by the Yeas and Nays: 235 - 173, 1 Present (Roll no. 177).
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Finance.
March 21, 2012

Introduced in the House by Eric Cantor (R-Va.)

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