S. 749 · 112th Congress
Fair Elections Revenue Act of 2011
- Stage
- In committee
- Sponsor
- Richard Durbin
- Introduced
- 2011-04-06
- Latest action
- 2011-04-12 · Committee on the Judiciary Subcommittee on the Constitution, Civil Rights and Human Rights. Hearings held.
Summary
Fair Elections Revenue Act of 2011 - Amends the Internal Revenue Code to impose an excise tax on payments made pursuant to a U.S. government contract to any person that is not a state or local government, a foreign nation, or a tax-exempt organization and that has contracts with the U.S. government in excess of $10 million. Sets the rate of such tax imposed on any payment to a qualified person under any such contract at 0.50% of the amount paid and limits the aggregate annual amount of tax so imposed for any calendar year to not more than $500,000.
Expresses the sense of the Senate that the tax revenues raised by this Act should be used for the financing of a Fair Elections Fund and the public financing of Senate elections.