Did you miss this week's issue of NTUF's Taxpayer's Tab? If so, here's a quick recap.
If you live in a high cost area of the country and pay taxes, New York Congressman Jerry Nadler's bill H.R. 1631, Tax Equity Act of 2011, would give you a tax cut. The act would allow the IRS to adjust individual income tax rates in certain regions to offset the area's cost of living. H.R. 1631 is scored as a revenue bill under NTUF's BillTally methodolgy and is therefore a no cost bill. It is, however, "The Wildcard" bill of the week.
Other highlights from The Tab include legislation sponsored by Congressman Emanuel Cleaver (MO-5). The bill, H.R. 628, would reinstate certain emergency funding for the State Temporary Assistance for Needy Family Programs by depositing $12.5 billion into a contingency fund. H.R. 628 is The Tab's "Most Expensive Bill of the Week." Congressman Dave Camp (MI-4) and Senator Orrin Hatch (UT) have introduced legislation to give states greater flexibility in how they use unemployment compensation funds. The "Most Friended Bill of the Week" is H.R. 1404 and S. 750, the Fair Elections Now Act, sponsored by Congressman John Larson (CT-1) and Senator Dick Durbin (IL).
For more details, including NTUF's preliminary cost estimates for each of these bills, read the entire Taxpayer's Tab online.
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