ABSTRACT

Congressional Budget Office Notes on Estimated Effects on Direct Spending and Revenues: H.R. 1, For the People Act of 2021   [open pdf - 296KB]

Alternate Title: H.R. 1, For the People Act of 2021, as Published by the Committee on Rules on February 25, 2021: Estimated Effects on Direct Spending and Revenues

This is the Congressional Budget Office (CBO) Notes on Estimated Effects on Direct Spending and Revenues as posted on the Committee on Rules website on February 25, 2021. From the Document: "H.R. 1 would create an additional assessment on many criminal and civil penalties currently imposed by the federal government, or on related settlements, equal to 4.75 percent of the penalty or settlement amount. The proceeds from those additional assessments would be deposited into the Freedom From Influence Fund created under H.R. 1. The additional assessments on nontax penalties and settlements would generally apply only to organizations. The additional assessments on tax penalties would apply to all taxpayers except individual taxpayers whose taxable income does not exceed the dollar amount at which the top tax bracket begins."

Publisher:
Date:
2021-03-01
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: https://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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