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Code · BILL · 113th Congress · S. 278 (Introduced in Senate) — To replace the Budget Control Act sequester for fiscal year 2013 by eliminating tax loopholes. · Sec. 1

Sec. 1. Short title; table of contents

185 words·~1 min read·/bill/113/s/278/is/section-1·

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This Act may be cited as the . Job Preservation and Sequester Replacement Act of 2013 The table of contents of this Act is as follows: Sec. 1. Short title; table of contents. TITLE I—Elimination of sequestration for fiscal year 2013 Sec. 101. No sequestration for 2013. TITLE II—Elimination of Tax Loopholes for High-Income Taxpayers Sec. 201. Minimum tax for high-income earners. Sec. 202. Requiring high-income professionals to pay their payroll taxes. Sec. 203. Elimination of private jet giveaway.
TITLE III—Elimination of tax loopholes for offshoring manufacturers Sec. 301. Ending tax breaks for offshoring manufacturers. TITLE IV—Elimination of tax loopholes for oil and gas companies Sec. 401. Modifications of foreign tax credit rules applicable to major integrated oil companies which are dual capacity taxpayers. Sec. 402. Limitation on section 199 deduction attributable to oil, natural gas, or primary products thereof. Sec. 403. Limitation on deduction for intangible drilling and development costs.
Sec. 404. Limitation on percentage depletion allowance for oil and gas wells. Sec. 405. Limitation on deduction for tertiary injectants. Sec. 406. Repeal of outer Continental Shelf deep water and deep gas royalty relief.
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