Tax Revision Act of 2005
Latest action. Referred to the House Committee on Ways and Means.
Tax Revision Act of 2005 - Amends the Internal Revenue Code to extend through 2006 the: (1) election to include combat zone compensation as earned income for purposes of calculating the earned income tax credit; (2) increased cover over (payment) of distilled spirits excise tax to the Treasuries of Puerto Rico and the Virgin Islands; (3) authority for certain Internal Revenue Service (IRS) undercover investigative operations; and (4) authority to disclose tax return information for combined employment tax reporting, for combating terrorist activities, and for student loan repayments.
Extends eligibility for the tax deduction for domestic production activities to such activities in Puerto Rico.
Grants a limited federal guarantee of bonds issued by the states of Alabama, Louisiana, or Mississippi for Hurricane Katrina relief.
Allows a taxpayer election to base eligibility for the earned income and child tax credit on earned income reported in a year preceding the year of Hurricanes Rita and Wilma. Authorizes the Secretary of the Treasury to adjust the application of tax laws to prevent taxpayers affected by Hurricanes Rita or Wilma from losing certain tax benefits.
Expresses the sense of Congress that the Secretary should designate a series of bonds as Gulf Coast Recovery Bonds in response to Hurricanes Katrina, Rita, and Wilma.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on November 15, 2005. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on November 15, 2005: Referred to the House Committee on Ways and Means.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 109th Congress (2005-06), 482 of the 10,701 bills and joint resolutions introduced became law, about 4.5 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
WILLIAM THOMAS (R-CA) introduced it on November 15, 2005, and 2 members have since signed on as cosponsors.
They are 2 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on November 15, 2005, 7604 days ago. The most recent recorded action was 7604 days ago, on November 15, 2005.
Measures do not carry over. Anything the 109th Congress has not finished by January 3, 2007 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers