PlainBillCongress, translated.Legislation. Context. Public interest.Sponsor introductory remarks on measure. (CR E262-263)
Congressional Research Service
Version 00 · Introduced in House · Feb 17, 2011
Investing in Our Future Act of 2011- Amends the Internal Revenue Code to impose an excise tax on currency transactions exceeding $10,000 equal to 0.005% of the value of the currency acquired in the transaction (currency transaction tax).
Establishes in the Treasury: (1) the Child Care Assistance Trust Fund, which shall be funded with 10% of the revenues from the currency transactions tax and which shall be used to provide increased allocations to states for child care assistance; (2) the Multilateral Global Health Trust Fund, which shall be funded with 25% of the revenues from such tax and from which the Secretary of State shall make grants to assist developing countries in addressing HIV/AIDS, tuberculosis, malaria, maternal mortality, family planning, neglected diseases, and other health issues; and (3) the Global Climate Change Adaptation and Mitigation Trust Fund, which shall be funded with 25% of the revenues from such tax and which shall be used for contributions to the Green Climate Fund, and the Adaptation Fund, established pursuant to the United Nations Framework Convention on Climate Change. Requires remaining tax revenues to be used for federal budget deficit reduction or reduction of the federal debt.
People & committees
Rep. Stark, Fortney Pete [D-CA-13] · D–CA
Legislative record
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Sponsor introductory remarks on measure. (CR E262-263)
Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
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