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S.2237 - Small Business Jobs and Tax Relief Act112th Congress (2011-2012)

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Sponsor: Sen. Reid, Harry [D-NV] (Introduced 03/26/2012)
Latest Action: Senate - 07/12/2012 Returned to the Calendar. Calendar No. 341.  (All Actions)
Roll Call Votes: There have been 4 roll call votes

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This bill has the status Introduced

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Summary: S.2237 — 112th Congress (2011-2012)All Information (Except Text)

There is one summary for S.2237. Bill summaries are authored by CRS.

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Introduced in Senate (03/26/2012)

Small Business Jobs and Tax Relief Act - Amends the Internal Revenue Code to allow certain employers a tax credit for 10% of the excess (if any) of: (1) the wages and compensation paid to their employees in 2012; over (2) the amount of such wages paid in 2011, up to a maximum amount of $5 million. Extends for one year the 100% bonus depreciation allowance for business assets. Increases the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.