House vote: H.R. 4453 // June 12, 2014
S Corporation Permanent Tax Relief Act of 2014
Sponsor: David Reichert (R-WA)
S Corporation Permanent Tax Relief Act of 2014 - Amends the Internal Revenue Code, with respect to the taxation of S corporations, to make permanent: (1) the reduction of the period (10 to 5 years) during which the built-in gains of such corporations are subject to tax, and (2) the rule requiring an adjustment to the basis of an shareholder's stock in an S corporation that makes tax deductible contributions of appreciated property. Prohibits the entry of the budgetary effects of this Act on any PAYGO (Pay As You Go) scorecard.
Taxation Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 4.2% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Nay | Won | 229 | 52.5% |
| Yea | Lost | 188 | 43.3% |
| Not represented on this question | No position taken | 0 | 4.2% |