9/23/14: Job creation has been a priority of the new House Majority Leader, Kevin McCarthy (R-CA). (See his priorities for September.) Last week, the House passed a package bill which consisted of 15 bills that they had previously already passed.
From our Hill Sources: It's unlikely that the Senate will consider this package of bills.
- HR 4: Jobs for America Act – To make revisions to Federal law to improve the conditions necessary for economic growth and job creation.
The Jobs for America Act consists of 15 House-passed bills "that will make various changes to federal law to improve the conditions necessary for economic growth and job creation," according to the House Rules Committee:
- Save American Workers Act (HR 2575): –Bipartisan– Repeals Obamacare’s 30-hour definition of full-time employment and the 120-hours-per- month definition of full-time equivalents, and replaces those thresholds with 40-hours- per-week for full-time employees and 174-hours-permonth for full-time equivalents. — Passed by the House on Apr. 3, 2014 —
- Hire More Heroes Act (HR 3474): –Bipartisan– Incentivizes businesses to hire veterans by excluding them from Obamacare’s employer mandate threshold. Amends the Internal Revenue Code of 1986 to permit an employer, when determining whether it must provide health care coverage to its employees under the Patient Protection and Affordable Care Act (PPACA), to exclude employees who have coverage under a healthcare program administered by the Department of Defense (DOD). This includes TRICARE or coverage provided by the Department of Veterans Affairs (VA). — Passed by the House on March 11, 2014 —
- American Research and Competitiveness Act (HR 4438): –Bipartisan– Makes the R&D Tax Credit permanent, paving the way for increased innovation and investment in the U.S. Makes permanent and increases to 20 percent the alternative simplified method for calculating the research credit. — Passed by the House on May 9, 2014 —
- America's Small Business Tax Relief Act (HR 4457): –Bipartisan– Makes section 179 expensing permanent ensuring that our small businesses have the certainty they need to grow their businesses and create jobs. Makes permanent the maximum expensing allowance at $500,000 and the phaseout threshold at $2 million. — Passed by the House on June 12, 2014 —
- S Corporation Permanent Tax Relief Act (HR 4453): –Bipartisan– Provides the necessary flexibility for S corporations to access capital and make new investments. Amends the Internal Revenue Code to reduce from 10 to 5 years the period during which the built-in gains of an S corporation are subject to tax and to make such reduction permanent. — Passed by the House on June 12, 2014 —
- Bonus depreciation (HR 4718): –Bipartisan– Making bonus depreciation permanent in order to lower the cost of capital for businesses. Makes permanent the 50-percent additional first-year depreciation deduction for qualified property. — Passed by the House on June 11, 2014 —
- Repeal of the Medical Device Tax: (Passed by the House as part of HJRes 59) –Bipartisan– Repeals the excise tax on medical device manufacturers and importers.
- Small Business Capital Access and Job Preservation Act (HR 1105): –Bipartisan– Scales back costly Dodd-Frank Act regulations so that more capital can be invested in small- and medium-sized businesses. Provides an exemption from SEC registration for advisers to private equity funds that are not leveraged and that do not have outstanding a principal amount in excess of twice their funded capital commitments. — Passed by the House on Dec. 4, 2013 —
- Small Business Mergers, Acquisitions, Sales, and Brokerage Act (HR 2274): –Bipartisan– Exempts certain brokers from onerous regulations when they facilitate the purchase or sale of businesses so that more capital can be used to innovate and create jobs. — Passed by the House on Jan. 14, 2014 —
- Unfunded Mandates Information and Transparency Act (HR 899): –Bipartisan– Equips Congress and the public with tools to determine the true costs of regulations. Provides for a Committee chairman or ranking member to request that the Congressional Budget Office (CBO) perform an assessment comparing the authorized level of funding in a bill or resolution to the prospective costs of carrying out any changes to a condition of Federal assistance being imposed on state, local, or tribal governments. — Passed by the House on Feb. 28, 2014 —
- Achieving Less Excess in Regulation and Requiring Transparency (ALERRT) Act (HR 2804): promotes jobs, better wages, and economic growth through regulatory reform. — Passed by the House on Feb. 27, 2014 —
- Regulations From the Executive in Need of Scrutiny (REINS) Act (HR 367): ensures that Congress votes on all new major rules before they can be enforced. Requires passage of a joint resolution of approval for a major rule before it can take effect. — Passed by the House on Aug. 2, 2013 —
- Permanent Internet Tax Freedom Act (HR 3086): –Bipartisan– Protects internet access for all Americans and fosters growth in the digital economy. Permanently extends the Internet Tax Freedom Act (ITFA), which generally prohibits states and local governments from taxing Internet access or placing multiple or discriminatory taxes on Internet commerce. — Passed by the House on July 15, 2014 —
- Restoring Healthy Forests for Healthy Communities Act (HR 1526): will put Americans back to work by promoting responsible timber production. Requires the Forest Service to produce at least half of the sustainable annual yield of timber each year and share 25 percent of receipts with the counties. Protects the environment by requiring projects to complete National Environmental Policy Act (NEPA) and Endangered Species Act (ESA) consultations. — Passed by the House on Sept. 20, 2013 —
- National Strategic and Critical Minerals Production Act (HR 761): –Bipartisan– Allows the U.S. to develop resources that are critical to our economic competiveness. — Passed by the House on Sept. 18, 2013–
