H.R. 2111 — Small Business Tax Fairness Act of 2001

Summary

Small Business Tax Fairness Act of 2001 - Amends the Internal Revenue Code, with respect to small businesses, to, among other things: (1) provide for the full deduction of the health insurance costs of self-employed individuals; (2) increase the expensing limitation; (3) increase the business meal deduction, including individuals subject to Federal hours of service limits; (4) exclude income averaging for farmers and fishermen from alternative minimum tax liability; (5) repeal occupational taxes relating to distilled spirits, wine, and beer; (6) provide for an accelerated phase-in of specified increases in the volume cap on private activity bonds; and (7) exclude, subject to limitation, from gross income the discharge of certain qualified residential indebtedness.

Minimum Wage Increase Act of 2001 - Amends the Fair Labor Standards Act of 1938 to increase the Federal minimum wage, as of September 1, 2001, and April 1, 2002, respectively.

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Legislative Actions

2001-06-07
Introduced in House
2001-06-07
Introduced in House
2001-06-07
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
2001-06-07
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
2001-06-07
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
2001-08-10
Referred to the Subcommittee on Workforce Protections.

Small Business Tax Fairness Act of 2001

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