Stop the Sequester Job Loss Now Act
Latest action. Referred to the subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on General Farm Commodities and Risk Management.
Stop the Sequester Job Loss Now Act - Amends the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) to repeal the FY2013 sequester and reduce the FY2014 sequester.
Eliminates the 2% maximum permissible reduction in budget authority for veterans' medical care.
Extends through FY2014 agricultural commodity programs generally under the Food, Conservation, and Energy Act of 2008, but not the direct payment programs for wheat, corn, grain sorghum, barley, oats, upland cotton, long and medium grain rice, soybeans, other oilseeds, and peanuts.
Amends the Internal Revenue Code, with respect to deductions from income, to set a special rule that a major integrated oil company's domestic production gross receipts shall not include any gross receipts from the production, refining, processing, transportation, or distribution of oil, natural gas, or any of their primary products.
Prohibits a major integrated oil company from using the last-in, first-out (LIFO) accounting method in inventorying goods.
Prescribes a special rule to limit the foreign tax credit and tax deferrals for amounts paid or accrued by a major integrated oil company that is a dual capacity taxpayer (a person subject to a levy of a foreign country or U.S. possession and receives, or will receive, directly or indirectly a specific economic benefit from such county or possession).
Requires an individual taxpayer whose adjusted gross income exceeds $1 million to pay a minimum (fair share) tax rate of 30% of the excess of the taxpayer's adjusted gross income over the taxpayer's modified charitable contribution deduction for the taxable year.
Declares that it is the sense of the House that Congress should replace the entire 10-year sequester established by the Budget Control Act of 2011 with a balanced approach that would: (1) increase revenues without increasing the tax burden on middle-income Americans; and (2) decrease long-term spending while maintaining the Medicare guarantee, protecting Social Security and a strong social safety net, and making strategic investments in education, science, research, and critical infrastructure necessary to compete in the global economy.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on February 14, 2013. 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 March 1, 2013: Referred to the Subcommittee on General Farm Commodities and Risk Management.
- 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 113th Congress (2013-14), 296 of the 9,091 bills and joint resolutions introduced became law, about 3.3 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?
Chris Van Hollen (D-MD) introduced it on February 14, 2013, and 20 members have since signed on as cosponsors.
They are 20 Democrats.
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 February 14, 2013, 4956 days ago. The most recent recorded action was 4941 days ago, on March 1, 2013.
Measures do not carry over. Anything the 113th Congress has not finished by January 3, 2015 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